Press ReleaseSource: UPS Teamsters, UPS Starting Early on 2008 Contract Negotiations Tuesday September 19, 1:53 pm ET DETROIT--(BUSINESS WIRE)--Sept. 19, 2006--The International Brotherhood of Teamsters and UPS (NYSE:UPS - News) today opened negotiations on a new contract to replace a six-year pact that expires July 31, 2008. "While it is unusual to start this early, we do so because there are some very complex issues to address and we all recognize it will take time to find solutions," said John McDevitt, UPS's senior vice president for Global Transportation Services. "And an early start to negotiations greatly increases the chances of an early finish." "Ultimately, the only way to solve complex issues is through the collective bargaining process," McDevitt added. "Starting almost two years early is the right thing to do for UPS employees as well as customers whose business depends on UPS." The Teamsters union represents roughly 238,000 UPS hourly workers in the United States. 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. UPS's stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at UPS.com.