Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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3235-0104

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

KUEHN KURT P

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2004

3. Issuer Name and Ticker or Trading Symbol
UNITED PARCEL SERVICE INC [UPS]

(Last)

(First)

(Middle)

55 GLENLAKE PARKWAY, NE

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Senior / Vice President

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

ATLANTA, GA 30328

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	43,462.2794	D
Class A Common Stock	768	I ⁽¹⁾	Child ⁽²⁾
Class A Common Stock	1,064	I ⁽¹⁾	Family Member ⁽²⁾
Class A Common Stock	1,894	I ⁽¹⁾	Spouse ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Phantom Stock Units	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	10,171.9463	$ 0 ⁽³⁾	D
Restricted Performance Units	⁽⁵⁾	⁽⁵⁾	Class A Common Stock	994.5601	$ 0 ⁽³⁾	D
Option to Purchase UPS Class A Common	04/01/2004	04/30/2004	Class A Common Stock	5,196	$ 21.5	D
Option to Purchase UPS Class A Common	11/10/2002	11/09/2009	Class A Common Stock	2,519	$ 50	D
Option to Purchase UPS Class A Common	03/31/2004	03/30/2011	Class A Common Stock	4,490	$ 56.9	D
Option to Purchase UPS Class A Common	04/26/2005	04/25/2012	Class A Common Stock	4,819	$ 60.22	D
Option to Purchase UPS Class A Common	05/03/2008	05/02/2013	Class A Common Stock	2,420	$ 62.4	D

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
KUEHN KURT P 55 GLENLAKE PARKWAY, NE ATLANTA, GA 30328			Senior	Vice President

Signatures

Kurt P. Kuehn		01/09/2004
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Shares are held for the benefit of the person designated.
(2)	Reported for information purposes only. The undersigned disclaims any beneficial ownership in these shares.
(3)	One for One
(4)	The settlement date of the phantom stock generally will be the earlier of death, disability, retirement or termination of employment.
(5)	The settlement date of the restricted performance units generally will be five years from the date of grant.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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