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UPS Board of Directors Meets In China

Submitted by: UPS

Categories: Community Development

Posted: Nov 12, 2002 – 11:00 PM EST


Nov. 12 /CSRwire/ - BEIJING, China – The Board of Directors of UPS (NYSE:UPS) opened its regular quarterly meeting today in China, marking the first time the group has formally met at a site in the increasingly important Asia Pacific Region. During this week’s visit, the 12-member Board of Directors plans to meet with a number of government officials; visit UPS’s joint venture partners, and tour UPS facilities in Beijing. The Board routinely travels to UPS facilities each year.

UPS recently announced plans to open 20 new representative offices in China by the end of 2003 and in the past month, opened three offices in the eastern cities of Xiamen, Shenzhen and Qingdao. The company has established non-stop package express service between China and the United States and constructed an intra-Asia hub in the Philippines, which in turn connects the region with the world.

More than 40 of the 200-plus countries and territories served by UPS are located in the Asia-Pacific region. UPS export volume in China grew more than 40% during this year’s third quarter compared to the prior year period, and average export volume across the region climbed 15% during the quarter.

UPS is the world’s largest global transportation company, offering the most extensive range of e-commerce and supply chain solutions for the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS was chosen for the fourth consecutive year as "The World's Most Admired Company in the Mail, Package and Freight Industry" in a 2002 FORTUNE magazine survey. For more information, visit UPS on the Web at UPS.com.

Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns (or customer behavior in anticipation of such events), increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.

For more information, please contact:

John Wheeler United Parcel Service
Phone: (404) 828-6463

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