FOR IMMEDIATE RELEASE                    Contact: Norman Black, Public Relations
                                                  404-828-7593
                                                  Kurt Kuehn, Investor Relations
                                                  404-828-6977


                             UPS ANNOUNCES RESULTS
                           OF CLASS A-1 TENDER OFFER


         ATLANTA, March 6, 2000 - UPS (NYSE: UPS) today announced the results of
its tender offer to purchase shares of its Class A-1 common stock.

         Final confirmation by First Union National Bank, the depositary for
the offer, shows 68,312,335 shares of Class A-1 common stock have been validly
tendered and not withdrawn, all of which UPS has accepted for payment. First
Union expects to begin distributions to tendering shareowners during the week
of March 13, 2000.

         Pursuant to the terms of the tender offer, each Class A-1 shareowner
could tender up to 27% of his or her Class A-1 stock (to a grand total of
100,893,277 shares) at $60 per share. The tender offer expired at 12:00
midnight, Eastern Standard Time, on Friday, March 3, 2000.

         The purchase of the shares in the tender offer is being funded with
the $5.27 billion net proceeds of UPS's Initial Public Offering.

         "The fact that approximately one-third of the eligible Class A-1
shares were not tendered demonstrates that UPS employees, retirees and founding
families apparently have great confidence in the company's long-term
prospects," said UPS Chairman & CEO Jim Kelly.

         To the extent that IPO proceeds were not used in the tender offer,
they will be available for purchases of UPS shares in the future.

         UPS is the world's largest express carrier and largest package
delivery company, serving more than 200 countries and territories around the
world. Headquartered in Atlanta, GA., the company's Web site is located at
http://www.ups.com.

                                      ###

         Except for historical information contained herein, the statements
made in this release constitute forward-looking statements. Such
forward-looking statements involve certain risks and uncertainties, including
statements regarding the intent, belief or current expectations of UPS and its
management regarding the company's strategic directions, prospects and future
results. Many factors may cause actual results to differ materially from those
contained in the forward-looking statements, including our competitive
environment, economic and other conditions in the markets in which we operate,
strikes, work stoppages and slowdowns, governmental regulations, increases in
aviation and motor fuel prices, cyclical and seasonal fluctuations in our
operating results and other risk factors listed from time to time in UPS's
reports filed with the Securities and Exchange Commission, including those
risks detailed in the company's Prospectus, dated Nov. 9, 1999, under the
caption "Risk Factors," which discussions are incorporated herein by reference.