PRICING SUPPLEMENT

                                                   Registration No. 333-08369-01
                                                Filed Pursuant to Rule 424(b)(2)


                           UNITED PARCEL SERVICE, INC.

                                    UPS NOTES


--------------------------------------------------------------------------------


Pricing Supplement No. 32                                  Trade Date: 08/19/02
(To Prospectus dated March 22, 2000 and Prospectus         Issue Date: 08/22/02
Supplement dated December 20, 2001)

The date of this Pricing Supplement is August 20, 2002





                                                                                       
        CUSIP
         or
      Common Code           Principal Amount         Interest Rate           Maturity Date         Price to Public
      -----------           ----------------         -------------           -------------         ---------------
       91131UEE0             $20,752,000.00              5.00%                 08/15/14                 100%



    Interest Payment
       Frequency                                       Subject to          Dates and terms of redemption
      (begin date)          Survivor's Option          Redemption         (including the redemption price)
    ----------------        -----------------          ----------         --------------------------------
        09/15/02                   Yes                    Yes                       100% 08/15/03
        monthly                                                                semi-annually thereafter




                              Discounts and
    Proceeds to UPS            Commissions            Reallowance                Dealer              Other Terms
    ---------------            -----------            -----------                ------              -----------
     $20,461,472.00            $290,528.00               $2.75             ABN AMRO Financial
                                                                             Services, Inc.