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Gary Kusin Resigns as Leader of FedEx Kinko's

Press release from the issuing company

MEMPHIS, Tenn.--Jan. 9, 2006-- FedEx Corporation today announced Gary Kusin, president and chief executive officer of FedEx Kinko's Office and Print Services, will leave the company at the end of January and be succeeded by Kenneth A. May, executive vice president and chief operating officer. Kusin assumed leadership of Kinko's when he joined the company in August, 2001, and continued at the helm after FedEx Corp. acquired Kinko's in February 2004. The Dallas-based company was rebranded as FedEx Kinko's Office and Print Services and is one of four FedEx operating companies, along with FedEx Express, FedEx Ground and FedEx Freight. "Gary's leadership transformed FedEx Kinko's into a global network offering the industry's broadest range of business services and helped change the way business is done in the digital age," said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp. "I have the utmost confidence that Ken will take FedEx Kinko's to new heights by building on this outstanding record of innovation and service to our customers," May, 45, was named to his present position in August, 2004 and oversees day-to-day management of the company's worldwide performance. May joined FedEx in 1982 and previously served as senior vice president of U.S. domestic ground operations and senior vice president of Air, Ground and Freight Services at FedEx Express. Brian D. Philips, 38, vice president of U.S. marketing for FedEx, will succeed May as chief operating officer at FedEx Kinko's. Philips is a 12-year veteran of FedEx and his responsibilities include advertising, brand management and retail marketing. Before joining FedEx, Philips worked for Kimberly Clark in brand management.

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