PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes Pricing Supplement No. 68 Trade Date: 05/19/03 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 05/22/03 Supplement dated December 20, 2001) The date of this Pricing Supplement is May 20, 2003 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UFS8 $4,276,000.00 4.00% 05/15/14 100% Interest Payment Frequency Subject to Dates and terms of redemption (begin date) Survivor's Option Redemption (including the redemption price) ---------------- ----------------- ---------- -------------------------------- 11/15/03 Yes Yes 100% 05/15/04 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms --------------- ----------- ----------- ------ ----------- $4,224,688.00 $51,312.00 $1.25 ABN AMRO Financial Services, Inc.