UPS Airline Pilots Ratify New Contract

LOUISVILLE, Aug. 31, 2006 – UPS (NYSE:UPS) Airline pilots represented by the Independent Pilots Association today ratified an eight-year labor agreement that runs through 2011.

The 2,623 members who voted ratified the contract by a 13 percent margin, 56.5% to 43.5%. The contract covers 2,775 captains, first officers and flight engineers working for UPS Airlines.

“We are thrilled to have a ratified contract,” said Bob Lekites, vice president of UPS Airline and International Operations. “We are excited about standing shoulder-to-shoulder with our people and moving forward to serve our customers and grow our business.”

“This contract meets our longstanding goals of rewarding our people while maintaining the ability to remain competitive,” he added. “This is a great day for UPS.”

UPS is the world’s largest 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., in the United States, UPS serves more than 200 countries and territories. UPS stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at www.ups.com.

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Mark Giuffre

UPS Airlines

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