Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-136253

TERM SHEET FOR FLOATING RATE NOTES

Dated August 3, 2006

 

Issuer:		FedEx Corporation
Significant Guarantors:		Federal Express Corporation, FedEx Ground Package System, Inc., FedEx Freight Corporation, FedEx Freight East, Inc. and FedEx Kinko’s Office and Print Services, Inc.
Size:		$500,000,000
Maturity:		August 8, 2007
Coupon (Interest Rate):		3-Month LIBOR Telerate plus .08%
Price to public:		100% of principal amount
Interest Payment Dates:		November 8, 2006, February 8, 2007, May 8, 2007 and August 8, 2007
Redemption Provisions:		None
Settlement:		T+3; August 8, 2006
Format:		SEC Registered (No. 333-136253)
Ratings:		Baa2; stable BBB; positive
Book-Running Managers:		Banc of America Securities LLC Citigroup Global Markets Inc. Merrill Lynch, Pierce Fenner & Smith Incorporated
Co-Managers:		J.P. Morgan Securities Inc. SunTrust Capital Markets, Inc. Daiwa Securities America Inc. Greenwich Capital Markets, Inc. KBC Financial Products USA, Inc. KeyBanc Capital Markets, a Division of McDonald Investments Inc. Scotia Capital (USA) Inc.
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322.