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UPS Employees Ratify New Six Year Contract
August 29, 2002

UPS employees who are organized through the International Brotherhood of Teamsters (IBT) overwhelmingly ratified a new six-year contract with UPS. The new contract will have an effective date of August 1, 2002. According the IBT, the contract was approved by over 70% of its members. Although some business was diverted to competitors during the last few months, UPS feels confident that many of its customers will return.