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UPS Chairman to Lead U.S.-China Business Council

WASHINGTON, D.C., Jan. 20, 2004 – UPS Chairman and CEO Mike Eskew today was elected chairman of the U.S.-China Business Council, the principal organization of U.S. corporations engaged in business relations with the People's Republic of China.

“The United States and China have developed a strong trade and investment relationship over the past few decades,” said Eskew. “The U.S.-China Business Council remains at the forefront of those vital relationships, and I look forward to contributing to the Council’s continued success.”

The United States-China Business Council, Inc. is a private non-profit, non-partisan, member-supported organization. Founded in 1973 as the National Council for U.S.-China Trade, the Council serves several hundred leading U.S. companies from its Washington, D.C., headquarters and field offices in Beijing and Shanghai.

UPS (NYSE:UPS) has served China within its global network since 1988. It gained coveted direct air operating rights in 2001 and since that time, has grown its business from less than US$100 million a year to an expected US$300 million this year.

“The amount of business being done by our customers with China is growing exponentially and it’s a critically important market to UPS,” added Eskew. “We have been expanding our range of services and network of offices to better link China to the world. A forum like the U.S.-China Business Council plays a critical role in helping American businesses understand China’s growing role in world trade.”

Eskew, a 32-year veteran of UPS, has served as the company’s chairman and CEO since 2002. He is a member of the Business Roundtable and also serves on the President’s Export Council.

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.

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• David Bolger
  202-675-3381