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
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  STOFFEL ROBERT E JR
 2. Date of Event Requiring Statement (Month/Day/Year)
03/22/2004		 3. Issuer Name and Ticker or Trading Symbol
UNITED PARCEL SERVICE INC [UPS]
(Last)
(First)
(Middle)
UNITED PARCEL SERVICES, 55 GLENLAKE PARKWAY, N.E.		 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)
03/31/2004
(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 B Common Stock 14,285
D (1)
 

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)
Date Exercisable Expiration Date Title Amount or Number of Shares
Equity Swap (Obligation to Sell)   (1) 03/09/2007 Class B Common Stock 14,285 $ (1) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
STOFFEL ROBERT E JR
UNITED PARCEL SERVICES
55 GLENLAKE PARKWAY, N.E.
ATLANTA, GA 30328		       Senior Vice President  

Signatures

Robert E. Stoffel, Jr. 03/12/2007
**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) On March 3, 2004 reporting person contributed 14,285 shares of issuer Class B common stock to the ML Allocation Fund LLC (the "Fund") in exchange for an interest in the Fund. The Fund is managed by affiliates of Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S"). An aggregate of 1,504,824 issuer Class B shares were contributed by all members of the Fund. The Fund received payment of $90,356,183.11 under a variable forward contract established upon creation of the Fund. At settlement, the reporting person may receive either a cash payment computed in accordance with the terms of the Fund or 14,285 shares of issuer stock. MLPF&S received a placement fee of 1.5% of the aggregate amount contributed to the Fund and certain affiliates of MLPF&S will receive a monthly service fee and trading advisor fees.

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

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.