FedEx 401K Unofficial Information Page

2003 Activity

Name
Fund
#		 Wellington
21		 Windsor
22		 500 Index
40		 Int'l Value
46		 PRIMECAP
59		 Extended Mkt Index
98		 Total Int'l Stock Index
113		 Total Bond Market Index
222		 Comments
12/31 $24.56 $12.00 $81.15 $18.83 $38.66 $18.74 $7.72 $10.38 New Year!
01/07 $25.19 $12.56 $85.14 $19.26 $40.65 $19.24 $7.89 $10.32 12/31 Contribution
1/16 $24.85 $12.38 $83.24 $19.13 $39.73 $18.99 $7.83 $10.33 1/15 Contribution
1/28 $23.98 $11.73 $79.25 $18.09 $37.92 $18.29 $7.38 $10.33 Pilot Sick Bank
1/31 $24.03 $11.76 $79.02 $18.07 $37.94 $18.33 $7.43 $10.34 Interest
2/6 $23.74 $11.49 $77.44 $18.03 $37.13 $17.94 $7.39 $10.36 1/31 Contribution + $500 Match
2/19 $23.83 $11.46 $78.14 $18.05 $37.41 $17.78 $7.39 $10.38 2/14 Contribution
2/28 $23.75 $11.45 $77.82 $17.60 $37.56 $17.85 $7.25 $10.44 Interest
3/7 $23.55 $11.30 $76.72 $16.96 $37.10 $17.60 $7.05 $10.46 2/28 Contribution
3/18 $23.92 $11.67 $80.24 $17.32 $38.78 $18.22 $7.19 $10.34 3/14 Contribution
3/28 $23.80 $79.69 $18.32 Distributions
3/31 $23.56 $11.55 $78.27 $17.04 $38.33 $18.12 $7.11 $10.38 Interest
4/4 $24.02 $11.95 $81.14 $17.63 $39.64 $18.53 $7.36 $10.35 3/31 Contribution
4/17 $24.35 $12.28 $82.55 $18.16 $40.55 $18.92 $7.61 $10.36 4/15 Contribution
4/30 $24.95 $12.74 $84.73 $18.67 $41.39 $19.63 $7.80 $10.43 Interest
5/6 $25.41 $13.01 $86.37 $19.32 $42.82 $20.25 $8.07 $10.47 4/30 Contribution
5/16 $25.87 $13.25 $87.37 $19.41 $43.31 $20.54 $8.16 $10.56 5/15 Contribution
5/30 $26.35 $13.57 $89.19 $19.78 $44.39 $21.50 $8.28 $10.58 Interest
6/5 $26.85 $14.00 $91.68 $20.53 $45.96 $22.17 $8.51 $10.59 5/30 Contribution
6/18 $27.17 $14.24 $93.57 $21.50 $46.03 $22.36 $8.85 $10.58 6/13 Contribution
6/20 $26.75 $13.91 $91.94 Distributions
6/30 $26.34 $13.64 $90.02 $20.58 $44.80 $21.98 $8.50 $10.52 Interest
7/8 $26.66 $14.17 $93.14 $21.57 $46.66 $23.02 $8.78 $10.45 6/30 Contribution
7/17 $26.07 $13.78 $90.75 $21.28 $45.98 $22.47 $8.54 $10.37 7/15 Contribution
7/31 $26.12 $13.94 $91.59 $21.88 $46.43 $22.99 $8.77 $10.13 Interest
8/6 $25.91 $13.56 $89.46 $21.52 $45.04 $22.18 $8.62 $10.19 7/31 Contribution
8/18 $26.50 $14.07 $92.56 $22.41 $47.17 $23.22 $8.99 $10.14 8/15 Contribution
8/29 $26.63 $14.28 $93.36 $22.43 $48.50 $23.95 $8.99 $10.17 Interest
9/5 $26.85 $14.50 $94.63 $23.15 $49.08 $24.34 $9.24 $10.23 8/29 Contribution
9/18 $27.22 $14.79 $96.36 $23.55 $49.97 $24.69 $9.54 $10.31 9/15 Contribution
9/26 $26.44 $92.08 Distributions
9/30 $26.51 $14.29 $92.00 $22.72 $47.59 $23.63 $9.24 $10.41 Interest
10/6 $27.03 $14.86 $95.56 $23.66 $49.46 $24.77 $9.68 $10.32 9/30 Contribution
10/16 $27.19 $15.25 $97.08 $24.62 $50.80 $25.36 $9.94 $10.20 10/15 Contribution
10/31 $27.37 $15.23 $97.19 $24.54 $51.22 $25.44 $9.84 $10.27 Interest
11/6 $27.44 $15.50 $97.89 $24.49 $51.76 $25.97 $9.81 $10.21 10/31 Contribution
11/18 $27.35 $15.19 $95.76 $24.70 $50.18 $25.31 $9.87 $10.33 11/14 Contribution
11/30 $27.69 $15.63 $98.03 $25.04 $51.68 $26.32 $10.05 $10.26 Interest
12/4 $28.07 $15.83 $99.13 $25.55 $51.76 $26.26 $10.30 $10.24 11/28 Contribution
12/12 $25.18 $51.61 Distributions
12/18 $28.65 $15.99 $100.99 $25.32 $52.08 $26.33 $10.46 $10.35 12/15 Contribution
12/19 $28.44 $15.91 $26.13 Distributions
12/26 $101.15 Distribution
12/31 $28.81 $16.26 $102.67 $26.24 $53.04 $26.66 $10.64 $10.31 Interest

Distributions

Interest Payments (month end distributions)

Admiral
MM 		Total Bond
Market Index 1
12/31/02 .00115 $.04249
1/31 .00106 $.04638
2/28 .00089 $.04320
3/31 .00095 $0.4783
4/30 .00088 $.04112
5/30 .00087 $.04121
6/30 .00082 $.04574
7/31 .00079 $.03991
8/29 .00074 $.02294
9/30 .00071 $.03627
10/31 .00073 $.04117
11/30 .00070 $.03886
12/31 .00073 $.04170

1 NOTE: Interest is for the Vanguard Total Bond Market Index Fund Institutional Shares, symbol VBTIX (Fund 222). It is slightly higher than the general Vanguard Total Bond Market Index Fund (VBMFX).

2003 Performance Results

401k Fund Returns
Name
Fund #		 Admiral Trsy MM
11		 Wellington
21		 Windsor
22		 500 Index
40		 Int'l Value
46		 PRIMECAP
59		 Extended Mkt Index
98		 Total Int'l
Stock Index
113		 Total Bond
Market Index
222
1/31 0.11% -2.16% -2.00% -2.62% -4.04% -1.86% -2.19% -3.76% 0.06%
2/28 0.09% -1.17% -2.64% -1.52% -2.60% -1.00% -2.62% -2.42% 1.38%
3/31 0.10% -0.04% 0.87% 0.96% -3.18% 2.05% 1.52% -1.93% -0.12%
4/30 0.09% 5.90% 10.30% 8.25% 9.57% 7.98% 8.33% 9.70% 0.88%
5/30 0.09% 5.61% 6.51% 5.26% 5.95% 7.25% 9.53% 6.15% 1.83%
6/30 0.08% 0.65% 1.11% 1.27% 4.04% 0.92% 2.23% 2.66% -0.13%
7/31 0.08% -0.84% 2.20% 1.74% 6.32% 3.64% 4.60% 3.18% -1.43%
8/29 0.07% 1.95% 2.44% 1.93% 2.51% 4.46% 4.18% 2.51% -1.33%
9/30 0.07% 0.26% 0.07% -1.07% 1.29% -1.88% -1.34% 2.78% 2.36%
10/31 0.07% 3.24% 6.58% 5.64% 8.01% 7.63% 7.66% 6.49% -0.95%
11/30 0.07% 1.17% 2.63% 0.86% 2.04% 0.90% 3.46% 2.13% 0.28%
12/31 0.07% 4.82% 4.57% 5.21% 6.63% 3.04% 2.09% 5.87% 0.49%
 
YTD 11/30 0.91% 14.98% 30.92% 21.98% 32.98% 33.68% 40.46% 30.18% 3.13%
YTD 12/31 0.99% 20.42% 36.88% 28.28% 41.80% 37.74% 43.40% 37.82% 4.01%
 
5 year 3.50% 6.19% 7.80% -0.63% 3.56% 5.86% 3.50% 0.85% 6.30%
10 year 4.28% 11.10% 11.39% 10.99% 5.62% 15.08% 10.06% 2.44%1 6.53%2

1No 10-year performance yet. Number is since inception.
2No 10-year performance yet. Number is 10-year performance for Total Bond Market Index Fund Investor Shares (VBMFX).


Vanguard Mutual Funds as of 12/31/2003
(table created using data available from Vanguard's web site) Average Annual Total Returns as of 12/31/2003
Fund Symbol Price Yield Note YTD 12/31 1 Year 5 Year 10 Year
500 INDEX FUND INVESTOR VFINX $102.67 1.48% B 28.50% 28.50% -0.63% 10.99%
ADMIRAL TREASURY MONEY MARKET FUND VUSXX $1.00 0.85% C 0.99% 0.99% 3.50% 4.28%
EXTENDED MARKET INDEX FUND INVESTOR VEXMX $26.66 0.84% B 43.43% 43.43% 4.20% 10.06%
INTERNATIONAL VALUE FUND VTRIX $26.24 N/A 41.90% 41.90% 3.56% 5.62%
PRIMECAP FUND VPMCX $53.04 0.39% B 37.75% 37.75% 5.86% 15.08%
TOTAL BOND MARKET INDEX FUND INSTITUTIONAL VBTIX $10.31 4.16% A 4.10% 4.10% 6.30% ---
(6.69%)E
TOTAL INTERNATIONAL STOCK INDEX FUND VGTSX $10.64 N/A 40.34% 40.34% 0.85% ---
WELLINGTON FUND INVESTOR VWELX $28.81 2.40% B 20.75% 20.75% 6.19% 11.10%
WINDSOR FUND VWNDX $16.26 1.16% B 37.01% 37.01% 7.80% 11.39%

Footnote Explanation
A Thirty day advertised yield net of expenses calculated daily
B Thirty day advertised yield net of expenses calculated monthly at month-end
C Seven day average income yield net of expenses
D Estimated yield based on individual class of shares
E Return is for the Total Bond Market Index Fund (non-institutional shares)