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UPS AND TEAMSTERS REACH AGREEMENT ON NEW CONTRACT

 WASHINGTON, Sept. 27 /PRNewswire/ -- United Parcel Service ("UPS") and the International Brotherhood of Teamsters reached a handshake agreement today on a new contract covering 165,000 UPS drivers and package handlers. The tentative accord was immediately endorsed by both parties.
 The agreement calls for UPS employees represented by the Teamsters to receive a pay raise of $2.25 an hour over the four-year contract.
 The existing contract between the company and the union will now be extended through the ratification process. UPS will continue to provide all normal services.
 UPS services will continue without interruption while employees vote on the package. Results of the vote are expected to be announced in three to four weeks. Both sides expressed confidence that the contract will be approved by a wide margin.
 "UPS entered these negotiations with the objectives of rewarding our people for their hard work, while ensuring that the company can continue to provide competitive rates and services. We believe this proposal achieves both objectives," said Dave Murray, UPS chief negotiator.
 The agreement includes these provisions:
 -- Annual hourly wage increases of 60 cents in the first year, and 55 cents in the next three, for a total $2.25 hourly increase.
 -- Increases in UPS contributions to Teamster health, welfare and pension plans of $1.80 over the life of the agreement. This is a substantially higher contribution than the national package.
 -- Important new flexibility for UPS to attract new package volume and grow new services, such as UPS's recently introduced 3 Day Select Service.
 United Parcel Service, the world's largest package distribution, delivers more than 11.5 million packages a day and has more than 1.2 million regular customers. UPS is the nation's largest employer of Teamsters.
 -0- 9/27/93
 /CONTRACT: John Flick of UPS, 404-913-7123, or Judi Mackey of Edelman Worldwide, 212-704-8110/


CO: United Parcel Service ST: Georgia IN: TRN SU: CON

TM -- NY102 -- 6162 09/27/93 20:55 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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