"China continues to be one of the fastest growing markets in the express industry and a key to FedEx international growth and profitability," said Michael L. Ducker, president, FedEx Express International. "FedEx is already the industry leader in China. This acquisition will allow us to solidify that position and ensure our global customers continued access to China."

"With more than 20 years of experience operating in the dynamic Chinese market, this acquisition represents the next step in the evolution of FedEx Express in China," said David L. Cunningham, president, FedEx Express Asia Pacific Operations. "As a wholly foreign-owned enterprise in China, FedEx is able to provide customers with an expanded suite of transportation solutions, as well as the enhanced customer experience that our customers have come to expect."

About FedEx Express

FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $34 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 275,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com.