( BLACK PR WIRE) FAIRFAX, Va. (January 5, 2009) – FedEx Corp. (NYSE: FDX) announced today it has awarded a $331,800 grant to UNCF–the United Negro College Fund– the nation’s largest and most effective minority education organization, to establish the FedEx / UNCF Scholarship Initiative.

The new program targets deserving minority students by providing scholarship opportunities for high school seniors entering historically black colleges and universities (HBCUs), including the 39 UNCF member schools. The program also supports UNCF’s HBCU Empower Me Tour, featuring Hill Harper of CSI: NY, which motivates young people to achieve academic excellence and exercise personal responsibility by helping them focus on building financial knowledge and assets so they can chart their own destiny.

“This FedEx / UNCF Initiative addresses two of the most acute needs that HBCU students face, the increasing cost of college and the tightening credit crunch,” said Michael L. Lomax, Ph.D., president and CEO of UNCF. “The Initiative’s scholarships will help close the gap between the full cost of attending college and students’ family contributions and financial aid packages. The Initiative’s support for the Empower Me Tour will make sure that students have the financial know-how to be savvy savers and borrowers, while they’re in college and for the rest of their lives.”

The FedEx / UNCF Initiative will award five, four-year scholarships for each of the 2009, 2010, and 2011 academic years and support the efforts of UNCF’s awareness programs impacting high school and college students. FedEx has been an active participant in this year’s HBCU Empower Me Tour, which began in September at Howard University and will continue through May. The African-American Sales Network at FedEx has been particularly involved, attending each of the sites to share their positive experience of working for a corporation that embraces diversity.

“UNCF is an important part of our history as a company, and establishing support for scholarships and awareness programs is simply an outgrowth of our strong commitment to diversity,” said Glenn Sessoms, chief diversity officer at FedEx Express.

“This grant will allow FedEx to help UNCF and its member institutions recruit and retain bright and gifted students who will have access to new opportunities, more choices and greater confidence upon entering the workplace. This contribution is part of the FedEx Corporation’s commitment to support organizations and initiatives that positively impact communities they service,” Sessoms said.

Among other criteria, candidates for the FedEx/UNCF Scholarship Program must have a minimum grade point average of 3.0 on a 4.0 scale, a demonstrated financial need and submit a two-page essay outlining their personal objective and community service. Interested students may visit http://www.uncf.org/ForStudents/index.asp or contact UNCF Program Services at 703-205-2052 to learn more about the program and apply.

About UNCF

UNCF—the United Negro College Fund—is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, strengthens its 39 member colleges and universities, and advocates for the importance of minority education.
UNCF institutions and other historically black colleges and universities are highly effective, awarding 18 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 900 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized motto, "A mind is a terrible thing to waste."® Learn more at www.UNCF.org.

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 $39 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 290,000 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 news.fedex.com.