MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 9, 2006--FedEx Corp. (NYSE:
FDX) today announced it plans to donate $5.5 million over the next five years to ORBIS International, a nonprofit organization dedicated to the prevention of blindness worldwide. This pledge represents the largest contribution commitment FedEx has made to ORBIS since joining forces more than 20 years ago to save sight.

"Nearly 37 million men, women and children worldwide are blind - and 75 percent do not need to be," said Oliver Foot, president and executive director of ORBIS. "The vast majority of world blindness can be treated or prevented with existing therapies and eye care resources. That's where ORBIS and FedEx come in. By working together, we can deliver education, training and treatment where it is needed most."

Blindness has profound human and socioeconomic consequences in all societies, particularly in the developing world where lost productivity, rehabilitation and education of the blind are significant economic burdens.

"Leading health organizations estimate the direct economic cost of blindness to be about $42 billion, yet treatments to prevent and cure blindness are among the most successful and cost-effective of all health interventions," said David J. Bronczek, president and chief executive officer of FedEx Express. "That's why FedEx has renewed and expanded its long-time commitment to working with ORBIS to help eradicate one of the world's most devastating, yet solvable, health challenges."

A Growing Problem

According to the World Health Organization, one to two million people go blind every year. One adult loses their sight every five seconds, and another child goes blind every minute. The leading cause of blindness worldwide is cataract, followed by glaucoma and then age-related macular degeneration.

"The only sustainable solution to the problem of avoidable blindness is to provide medical communities in developing countries with skills, knowledge and resources to prevent and cure blindness on their own," explained Dr. Eugene Helveston, ORBIS chief ophthalmologist. "The increased support from FedEx helps ensure that we give more people access to much-needed eye care services that industrialized societies often take for granted."

A Focused Approach

The new, multi-million dollar commitment from FedEx runs from 2006 through 2011, and includes financial, logistical and operational support for ORBIS and its Flying Eye Hospital - the world's only DC-10 aircraft converted into a state-of-the-art teaching facility and ophthalmic surgical center.

The latest FedEx contribution is designed to enhance the signature Delivering Sight Worldwide initiative developed by FedEx and ORBIS several years ago. At no cost to ORBIS, FedEx has agreed to:

-- Create a new fellowship program - the FedEx Fellows - in which
ORBIS will award 10 medical training fellowships to
ophthalmologists around the world over the next five years.

-- Support 10 ORBIS Flying Eye Hospital programs held in various
host countries, which are provided entirely free-of-charge to
both host countries and patients. The first of these
FedEx-sponsored medical programs is taking place in Danang,
Vietnam from October 9-20, 2006.

-- Provide employee-volunteer support during ORBIS medical
programs, and help increase awareness about avoidable
blindness.

-- Deliver urgently-needed medical supplies to ORBIS program
sites all over the world.

-- Manage the cost and completion of routine and critical
maintenance procedures, including the annual safety checks for
the ORBIS Flying Eye Hospital to ensure its airworthiness.
FedEx will also provide spare aircraft components as needed.

-- Provide volunteer FedEx pilots to fly the plane to its
sight-saving programs, and train all other volunteer pilots.

A Record of Success

More than three million people have received direct medical treatment since the inception of ORBIS in 1982. In addition, more than 120,000 healthcare professionals have enhanced their skills through ORBIS training programs in 85 countries.

It is through innovative programs and partnerships that ORBIS is able to produce long-term, sustainable solutions to preventable blindness that emphasize the training of medical personnel, strengthening of in-country eye care institutions, and expanding delivery of quality eye care and prevention strategies in the developing world.

"FedEx has demonstrated its support of ORBIS throughout our history, and this renewed commitment provides a terrific boost to ORBIS in our 25th year of operations," Foot said. "The unwavering generosity of FedEx helps us to confidently plan future programs with increased impact and to ensure that other donations we receive can be spent directly on saving sight."

About ORBIS

ORBIS International is a nonprofit humanitarian organization dedicated to saving sight in the developing world by strengthening the capacity of local eye care professionals in their efforts to prevent and treat blindness. Since 1982, ORBIS-trained eye care professionals have given an estimated 27 million people back their sight and their future. For more information about ORBIS, please visit orbis.org.

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $32 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 260,000 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.

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