UPS Supply Chain Solutions Names Bob Stoffel President; Unit Provides Integrated Global Logistics, Transportation and Trade Services

    ATLANTA--Jan. 17, 2003--UPS has named Bob Stoffel, a 28-year company veteran, as president of UPS Supply Chain Solutions. The unit provides integrated logistics, transportation and trade services around the world.
    Stoffel, 47, will oversee global operations for UPS Supply Chain Solutions, a $2 billion unit that includes the recent integration of UPS Logistics Group and UPS Freight Services. It encompasses some 20 companies that have been acquired over the last three years including Fritz Companies, a large freight forwarding and customs brokerage company. The UPS Supply Chain Solutions name will be rolled out globally throughout 2003.
    "UPS's strategy is to help customers improve their business performance by synchronizing the flow of goods, funds and information," said UPS Chairman and CEO Mike Eskew. "We have been steadily building our capabilities in the logistics and international trade arena for several years and no one has a broader portfolio of supply chain services in the market today. Bob's unit is at the center of our strategy."
    Stoffel reports to Joe Pyne, UPS senior vice president responsible for UPS Supply Chain Solutions, UPS Consulting, UPS Capital and UPS Mail Innovations.
    UPS Supply Chain Solutions includes a global network of more than 750 facilities in 120 countries and offers an extensive portfolio of logistics and distribution, transportation and freight, freight forwarding, international trade management and customs brokerage services.
    It ranks as a Top 10 international company in the industries of freight forwarding, customs brokerage, third-party logistics, ocean transportation and service parts logistics. The company continues UPS's legacy of operational excellence through a team of in-house logistics and international trade experts and an award-winning IT infrastructure.
    "Our mission is to help our customers realize the powerful benefits of improved supply chain operations," Stoffel said. "A streamlined supply chain means that a business can get paid quicker, lower its capital requirements, minimize management headaches, manage change and gain competitive advantage. We help our customers consistently achieve these results."
    During his 28 years of UPS service, Stoffel has served in both operations and industrial engineering posts in five different operating districts and regions. He also has worked in the corporate marketing and research and development functions. Most recently, Stoffel spent the past three years building a successful global service parts logistics operation while helping lead the integration of the various business units in the Americas that now form UPS Supply Chain Solutions.
    UPS is a leading global provider of specialized transportation and logistics services, serving more than 200 countries and territories. Information about UPS is available at www.ups.com; information about UPS Supply Chain Solutions resides at www.ups-scs.com.

    Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns (or customer behavior in anticipation of such events), increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.