New Airbus A310 Service Also Reduces Transit Times to Hanoi

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today announced it had launched a new Airbus A310 flight service to Vietnam to meet the country’s increasing demand for reliable time-definite express services. The new service increases FedEx capacity into and out of the country fivefold, to more than 30,000kg per day.

As a result of the new service, customers also enjoy an improvement in transit times into and out of the capital, Hanoi, of one day, and can take advantage of the best delivery and cut-off times available in the city. Customer cut-off and transit times out of Ho Chi Minh City are unchanged.

“Expanding our offering in Vietnam is an important part of the FedEx international business strategy and our new service launch demonstrates an ongoing commitment to this growing market,” said Rajesh Subramaniam, senior vice president, International Marketing, FedEx Services. “By investing in infrastructure and systems to build trade opportunities both to and from Vietnam, FedEx can fill a distinct need for more robust connectivity from Vietnam to the rest of the world, while delivering better service to our customers and enhancing the country’s global competitiveness.”

Local businesses in Vietnam that ship internationally, and customers globally with commercial ties to Vietnam, will benefit from the comprehensive FedEx portfolio of services in the country. The service enhancement applies to all FedEx International Priority^® and FedEx International Economy^® shipments that are destined for addresses in Asia, Europe and the U.S.

Since FedEx first established operations in Vietnam in 1994, the company has worked to support the country’s efforts to become a key export market. With a healthy economic growth rate of 8.5%¹, Vietnam’s exports rose more than 20% to US$48 billion² in 2007. According to an estimate by the Ministry of Finance of Vietnam, the country will see an export turnover of US$58.6 billion in 2008, or a year-on-year increase of 22%.³

“The transformation of Vietnam’s economy over the last fifteen years has seen Vietnam emerge as a powerful economic force in this region,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express.