FedEx Freight Wins Gold From Lowe's Home Improvement Warehouse For Service Excellence

MEMPHIS, Tenn., - FedEx Freight has been honored by Lowe's Home Improvement Warehouse, a major retailer of home improvement products and equipment, for its outstanding service. FedEx Freight was awarded the shipper's Gold Team Awards for 2002 at Lowe's carrier conference in Wilkesboro, N.C. FedEx Freight is the leader in regional less-than-truckload (LTL) freight services and a subsidiary of FedEx Corp. [NYSE: FDX].

"We're honored to receive the Lowe's Gold Team Award. It's especially gratifying that both of the FedEx Freight operating companies were recognized. Although we operate independently, we share common values, such as understanding our customers' business needs and working collaboratively to develop solutions that meet and exceed expectations," said Keith Lovetro, president and CEO of FedEx Freight West.

Lowe's presented the annual service awards to FedEx Freight's two operating units for meeting or exceeding consistently its goals in three categories of service. To achieve gold status, a carrier must meet or exceed Lowe's goals every month throughout the year in at least three out of its four categories:

-- Delivery On-time

-- Transit Performance (transit times from origin to destination)

-- Delivery Before Exception (the number of deliveries without exception)

-- Gap Compliance (the measure of deliveries to a store within 24 hours after shipment

-- Arrives at the carrier's service center).

"The Gold Award represents the best-in-class of our valued carrier partners who participated in Lowe's 2002 LTL program," said Rob Long, LTL services manager for Lowe's. "FedEx Freight's achievement of Gold level service represents a significant accomplishment that Lowe's values and appreciates. Lowe's requires a lot from our carrier partners and FedEx Freight has consistently met these tough demands and is a valued partner."

FedEx Freight currently serves more than 950 Lowe's stores and eight distribution centers. In 2002 more than 150,000 shipments were handled for the retailer with an average on-time performance of 98.8 percent. FedEx Freight has been a part of Lowe's transportation program since 1994 and garnered several awards for its service quality during that time, including gold and silver. Each year Lowe's raises the bar on the goals it sets for its carriers to encourage continuous improvement.

"Since becoming FedEx Freight a little over two years ago, we've focused on providing a common face to the customer and being easy to do business with. I'm pleased that our customers, such as Lowe's, recognize our achievements in these areas," said Pat Reed, president and CEO of FedEx Freight East. "I would also like to thank the many employees of both FedEx Freight East and West who provide outstanding service to all of our customers every day."

As a member of the FedEx Corp. family of companies, FedEx Freight is the $2 billion leading U.S. provider of next-day and second-day regional LTL freight services. With corporate offices in Memphis, Tenn., FedEx Freight is composed of two operating companies, FedEx Freight East and FedEx Freight West. More information about FedEx Freight East, based in Harrison, Ark., and about FedEx Freight West, based in San Jose, Calif., can be found at www.fedexfreight.fedex.com.

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