Freight Dog

Fellow Pilots,

Our MEC met today via teleconference for the purpose of consulting with
the Negotiating Committee regarding management's most recent proposal,
which you will find included with this communication.

It is identified by management as "...an official offer from Federal
Express Corporation (the "Company") to resolve immediately and completely
the collective bargaining negotiations currently underway between the
Company and the pilots of Federal Express Corporation..." In reality, it
amounts to nothing more than a low ball Section 3 proposal. Your
Negotiating Committee, MEC and MEC officers unanimously find this offer
wholly inadequate.

It is inexcusable that for the last 14 months the management
negotiators have been unable or unwilling to bargain a fair agreement with
the FedEx pilots. Our union remains prepared to negotiate in good faith and
expeditiously reach agreement on a contract that reflects the full value
of pilots' contributions to the success of Federal Express. We call on
management, once again, to do the same.

Further communications can be found on the MEC website.

Fraternally,

Captain David Webb
Fedex MEC Chairman