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FedEx International Trade Challenge

Team for New Zealand announced to take on global entrepreneurs in FedEx International Trade Challenge
Six students will compete with 18 teams from six countries in Singapore

Auckland New Zealand, 21 July, 2009 - FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, announced last night the six students selected from an initial pool of 80 to represent New Zealand in the FedEx Express/Junior Achievement International Trade Challenge.

Auckland boys Paul Minors (Rangitoto College), Chuck Slogrove (Macleans College), Talman Madson (Long Bay College), joined Aimee Groom (Taradale High School, Napier), Danica Burghout (Queen Margaret College, Wellington) and Anna MacDonald (Southland Girls High). The six will travel to the host country, Singapore, to represent New Zealand at the international final from August 4 –6.

Over the weekend, twelve students took part in an intensive workshop where they were issued a challenge to develop and manufacture a car cover to export to car-owners in Poland. In teams, they had 48 hours to submit a ‘market entry strategy’ for a new product of their own design, detailing their marketing, promotion, pricing, inventory and international product distribution plans, tailored to the Polish market.

Each team had eight minutes to present their strategy to the judges, who were Mathew Koshy, County Manager FedEx Express New Zealand, Donna Dentice, Chief Executive Officer, Young Enterprise Trust, and Chris Chitty, Senior Lecturer in Product Development at Massey University.

The six students were chosen for their understanding of the significance of market research, creativity, planning, and entrepreneurial skills to enter new markets.

Commenting on the calibre of the entries developed by this year’s teams, Mr Koshy said “The finalists presented some excellent and well thought out strategies. The judges found it difficult to select just six students to represent New Zealand, and if these young people are the future entrepreneurs for global trade, then New Zealand has a very bright future ahead of us indeed. FedEx is proud to be able to help facilitate this great learning opportunity.”

“The International Trade Challenge aims to help highlight and develop the entrepreneurial spirit of young people in New Zealand by providing opportunities in international trade education, and these skills certainly shone through in the finalists. We congratulate the winning teams and wish them well in the regional final in Singapore.”

This is the first year New Zealand has been invited to participate in the FedEx International Trade Challenge. The other competing countries include Australia, Hong Kong, Korea, Malaysia, and Singapore.

The International Trade Challenge is part of FedEx’s three-year sponsorship program with Junior Achievement Worldwide that aims to educate and inspire young people to become entrepreneurs by providing them with first-hand experience in international trade, enhance their knowledge in a range of business areas and develop their sense of teamwork, risk-taking and self-confidence.

ENDS

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