Friday, December 28, 2007

FedEx Freight, FedEx National LTL Announce General Rate Increase

MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Freight, a leading U.S. provider of regional next-day and second-day less-than-truckload (LTL) service, and a subsidiary of FedEx Corp. (NYSE: FDX), will implement a 5.48 percent general rate increase (GRI) effective January 14, 2008. Additionally, FedEx National LTL, the long-haul LTL company, will implement a commensurate increase for its general rates.

Rates for other operating companies within FedEx Corp., specifically FedEx Express and FedEx Ground, are not affected.

“FedEx Freight and FedEx National LTL are committed to providing superior service for regional and long-haul shippers throughout North America,” said Dennie Carey, senior vice president, marketing, FedEx Freight. “Sustained investments in our employees, technology, equipment and facilities will enable us to continue offering what customers expect from FedEx – safe and reliable transportation of their shipments by dedicated professionals.”

In 2007, FedEx Freight improved service standards in key markets throughout the U.S., and reduced transit times in more than 1,000 transportation network lanes. Additionally, FedEx National LTL re-engineered its network to provide long-haul shippers with higher levels of reliability and certainty. FedEx National LTL was created in September 2006 when FedEx acquired the business assets of the former Watkins Motor Lines.

Carey also noted that FedEx Freight and FedEx National LTL have taken a leadership role in the purchase of safe and more environmentally sensitive equipment. “It’s our goal to take necessary steps to benefit our employees, customers and the communities in which we live and work.”

The GRI increase will apply to interstate and intrastate traffic, and certain shipments between the United States and Mexico and Canada. Various additional adjustments will include minimum and accessorial charges, as well as adjustments in fuel surcharges and select lanes and service areas.

After January 14, the new base rate and rules tariffs for FedEx Freight will be available on the company’s Web site, www.fedex.com/us/freight/main/ and new base rates and rules tariffs for FedEx National LTL will be available at http://fedex.com/us/national/main/. Customers may access rate quotes via these sites.

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