PRICING SUPPLEMENT

                                                   Registration No. 333-08369-01
                                                Filed Pursuant to Rule 424(b)(2)

                           United Parcel Service, Inc.

                                    UPS Notes



Pricing Supplement No. 33                                   Trade Date:  5/14/01
(To Prospectus dated March 22, 2000 and Prospectus          Issue Date:  5/17/01
Supplement dated January 29, 2001)

The date of this Pricing Supplement is May 16, 2001

<TABLE>
<CAPTION>
<S>                    <C>                      <C>                     <C>                   <C>
   CUSIP
    or
Common Code            Principal Amount         Interest Rate           Maturity Date         Price to Public
- -----------            ----------------         -------------           -------------         ---------------
 91131UBJ2               $7,416,000.00              5.35%                  11/15/06                 100%


Interest Payment
   Frequency                                      Subject to                Dates and terms of redemption
  (begin date)         Survivor's Option          Redemption               (including the redemption price)
- ----------------       -----------------          ----------               --------------------------------
    11/15/01                  Yes                     Yes                      100%            05/15/02
 semi-annually                                                                 semi-annually thereafter


                         Discounts and
Proceeds to UPS           Commissions             Reallowance               Dealer              Other Terms
- ---------------          -------------            -----------               ------              -----------
 $7,341,840.00             $74,160.00                $1.50               ABN AMRO, Inc.
</TABLE>