EXHIBIT 21


                   SUBSIDIARIES OF UNITED PARCEL SERVICE, INC.
                              AS OF MARCH 26, 2002


<TABLE>
<CAPTION>
NAME OF SUBSIDIARY                                  JURISDICTION OF ORGANIZATION
- ------------------                                  ----------------------------
<S>                                                 <C>
United Parcel Service General Services Co.          Delaware
United Parcel Service Co.                           Delaware
UPS Worldwide Forwarding, Inc.                      Delaware
United Parcel Service, Inc.                         Ohio
</TABLE>


The names of particular subsidiaries are omitted pursuant to Item 601(b)(21)(ii)
of Regulation S-K.