UPS Board Names Economic Expert Kevin Warsh A Director

US 07/26/12

Atlanta, GA

The UPS (NYSE: UPS) Board of Directors today named as a company director Kevin M. Warsh, a former central banker, presidential advisor and noted economic and financial market expert. The appointment is effective immediately and expands the UPS Board to 13 members.

Warsh, 42, was a member of the Board of Governors of the Federal Reserve. Previously, he served four years at the White House as President George W. Bush's special assistant for economic policy and as executive secretary of the National Economic Council. Warsh currently serves as a distinguished visiting fellow at Stanford University's Hoover Institution and a lecturer at its Graduate School of Business.

A native of upstate New York, Warsh earned his A.B. in public policy from Stanford and J.D. from Harvard Law School. After graduation in 1995, he joined Morgan Stanley & Co. in New York, becoming vice president and executive director of the company's Mergers and Acquisitions Department.

He joined the White House in February 2002, where his primary areas of responsibility included domestic finance, capital markets and macroeconomics.

In February 2006, Warsh was confirmed by the U.S. Senate to join the Federal Reserve's seven-member governing board, becoming the youngest appointee in Fed history at age 35. He focused on financial and economic developments and the conduct of monetary policy. Warsh played a significant role in navigating the financial market turmoil amid the global financial crisis. He also served as the Fed's representative to the Group of Twenty (G-20), consisting of the world's largest 20 economies, and as the Fed's emissary to the emerging and advanced economies in Asia until his departure in April 2011.

Warsh will stand for election to a regular one-year term at UPS's annual shareowners' meeting in May 2013. He will serve on the Audit Committee of the Board.

About UPS

UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at longitudes.ups.com. To get UPS news direct, follow @UPS_News on Twitter.

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