UPS (NYSE: UPS) and the Independent Pilots Association (IPA), which represents the approximately 2,600 pilots who fly for UPS, announce the following: In accordance with a process agreement signed last year, the company and union will request mediation by the National Mediation Board (NMB) for their ongoing contract negotiations. This joint request reflects the desire of both parties to continue to progress toward an agreement that is good for UPS, its customers and employees. The contract is governed by the Railway Labor Act (RLA) and became amendable Dec. 31, 2011. Under the RLA, contracts do not expire until the negotiation processes of the RLA are exhausted. Not only is NMB mediation a common part of the negotiations process under the RLA, the NMB has successfully mediated every contract UPS has negotiated with the IPA. The parties have utilized their best efforts over the past two and a half years of negotiations, and have not yet reached agreement in the contract areas of scheduling, compensation, pension, scope and benefits. The parties remain committed to bargaining in good faith and working with the NMB to reach agreement in a timely manner.