PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes - ------------------------------------------------------------------------------- Pricing Supplement No. 78 Trade Date: 07/28/03 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 07/31/03 Supplement dated December 20, 2001) The date of this Pricing Supplement is July 29, 2003 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UGC2 $9,338,000.00 5.00% 07/15/18 100% Interest Payment Frequency Dates and terms of redemption (begin date) Survivor's Option Subject to Redemption (including the redemption price) - ---------------- ----------------- --------------------- -------------------------------- 01/15/04 Yes Yes 100% 07/15/04 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms - --------------- ------------- ----------- ----------------- ----------- $9,193,261.00 $144,739.00 $3.50 ABN AMRO Financial Services, Inc.