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To: Jim Bishop who wrote (13808)	11/10/1999 11:09:00 AM
From: SSP	Read Replies (3) \| Respond to of 150070

Nov. 10, 1999--United Parcel Service, Inc. (NYSE: UPS) today announced its public offering of 109.4 million shares of Class B common stock was priced at $50 per share. The offering is the largest initial public offering ever by an American company. The company anticipates using the net proceeds from the offering to fund a cash tender for some of its Class A common stock. "Our goal is to remain the pre-eminent global company in our industry in the 21st century," said Jim Kelly, UPS Chairman and CEO. "By having available a publicly traded equity security, UPS will be able to take advantage of opportunities around the world to grow its business. The decision to go public reflects our willingness to embrace change, something UPS has done repeatedly since being founded as a messenger company in 1907." The offering was led by Morgan Stanley Dean Witter, and co-managed by Goldman Sachs, Merrill Lynch, Credit Suisse First Boston, Salomon Smith Barney and Warburg Dillon Read. A copy of the final prospectus may be obtained from the offices of Morgan Stanley Dean Witter, 1585 Broadway, New York, NY 10036. UPS, founded in 1907, is the world's largest express carrier and largest package delivery company and a leading global provider of specialized transportation and logistics services, serving more than 200 countries and territories. In 1998, UPS generated revenues of $24.8 billion from the delivery of more than three billion packages and documents worldwide. The company employs more than 330,000 people and serves 1.7 million regular daily shipping customers worldwide. Headquartered in Atlanta, the company resides on the Web at ups.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction. SOURCE: United Parcel Service --30--lk/at* CONTACT: United Parcel Service, Inc. Norman Black, 404/828-7593 or 888/856-8816 (pager) norman.black@ups.com