Bob Stoffel Named to Lead All of UPS's Supply Chain Businesses.

Business Editors

ATLANTA--(BUSINESS WIRE)--March 31, 2004

Bob Stoffel, who helped lead the development of UPS's global supply chain capabilities, has been promoted to the company's Management Committee to succeed the retiring Joe Pyne as senior vice president for the Supply Chain Group.

Pyne has served as UPS's senior vice president for the Supply Chain Group since 1999 and before that, served three years as UPS's senior vice president for marketing. He is retiring after almost 35 years of service.

Stoffel, 48, currently is the head of UPS Supply Chain Solutions, the largest of the four business units that comprise the Supply Chain Group of UPS's non-package companies. He oversaw the integration of 16 acquired companies that were added in recent years to UPS Supply Chain Solutions, and also led the unit to profitability.

"Bob Stoffel is well qualified for his new responsibilities," said UPS Chairman and CEO Mike Eskew. "He has served on the front lines of our transformation along with Joe Pyne, acquiring and building the companies that UPS needed to extend to our customers the ability to truly synchronize the flow of goods, information and funds."

The Supply Chain Group that Stoffel will lead - with 2003 revenues exceeding $2 billion -- includes UPS Supply Chain Solutions; UPS Capital Corp., the company's financial arm; UPS Consulting, and UPS Mail Innovations.

To support the growth of UPS Supply Chain Solutions, Stoffel announced an organizational change that places three executives at the top of that organization. Dan Brutto was named vice president and general manager, Global Transportation and Shared Services; Rocky Romanella was named vice president and general manager, The Americas, and John Hafferty will continue as vice president and general manager, Europe and Asia.

All three are long-time UPS executives. Brutto and Hafferty already are managers of UPS Supply Chain Solutions. Romanella is assuming a new job after serving as the vice president of retail services and head of The UPS Store and Mail Boxes Etc.

Stoffel brings to his post broad experience in operations, industrial engineering, marketing and new product development. He joined UPS in 1975 while earning his BS degree in business management from the University of Illinois, Chicago, starting as a part-time loader. He subsequently served as both operations manager and industrial engineering manager in five different UPS operating Districts and Regions. He also worked in UPS's corporate research and development and marketing functions, and also held the positions of vice president of UPS's Quality function and UPS transportation process manager.

In joining the UPS Management Committee, Stoffel becomes one of the company's 12 most senior managers responsible for the day-to-day management of the company. He resides in Alpharetta with this wife, Terri, and three children.

The retiring Pyne joined UPS in 1969 as a part-timer, working as a preloader and sorter before being promoted into management in 1973. A native of Allentown, Pa., he was promoted in 1989 to national marketing planning manager. He then directed marketing for the U.S. and subsequently, UPS's worldwide marketing activities. He assumed his current post in 1999.

"Joe Pyne has been a key leader in this company's efforts to transform itself from a package delivery service to a company that helps customers around the world compete through better management of their supply chains," said Eskew. "He also led UPS marketing efforts during the most significant period of expansion in products and capabilities in the company's history."

UPS is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPS's stock trades on the New York Stock Exchange (UPS) and the company can be found 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, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. 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, 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.