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United Parcel Service of America Inc · T-3 · On 12/18/97

Filed On 12/18/97 · SEC File 22-22295 · Accession Number 950109-97-7591

  As Of               Filer                 Filing     On/For/As Docs:Pgs              Issuer               Agent

12/18/97  United Parcel Svc of America Inc  T-3                    5:107                                    950109

Application for Qualification of a Trust Indenture · Form T-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: T-3         Application for Qualification of a Trust Indenture    13     75K 
 2: EX-99.T3C   Form of Indenture                                     85    343K 
 3: EX-99.T3E.3  Notice of Guaranteed Delivery                         4     21K 
 4: EX-99.T3F   Cross-Reference Sheet                                  1      7K 
 5: EX-99       Form T-1 of Citibank, N.A                              4     23K

T-3 · Application for Qualification of a Trust Indenture

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SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C.  20549 

FORM T-3

FOR APPLICATIONS FOR QUALIFICATION OF INDENTURES UNDER THE
TRUST INDENTURE ACT OF 1939 

UNITED PARCEL SERVICE OF AMERICA, INC.
--------------------------------------
(Name of Company) 

55 GLENLAKE PARKWAY, N.E. 
Atlanta, Georgia  30328 
----------------------- 
(Address of Principal Executive Offices)

SECURITIES TO BE ISSUED UNDER THE INDENTURE TO BE QUALIFIED 

TITLE OF CLASS                                       AMOUNT           
--------------                                       ------           

8 3/8 % Debentures due 2030                       $700,000,000        

APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING:  December 18, 1997.               

NAME AND ADDRESS OF AGENT FOR SERVICE:   Catherine Harrison, Esq., 55 Glenlake  
Parkway, NE, Atlanta, Georgia  30328.                                           

   The Company hereby amends this application for qualification on such date
or dates as may be necessary to delay its effectiveness until (i) the 20th day  
after the filing of a further amendment which specifically states that it shall 
supersede this amendment, or (ii) such date as the Securities and Exchange      
Commission, acting pursuant to Section 307(c) of the Act, may determine upon the
written request of the Company.                                                 

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GENERAL 
------- 

1.  GENERAL INFORMATION                                                         
-------------------                                                     

(A) FORM OF ORGANIZATION:  Corporation.                               

(B) STATE OR OTHER SOVEREIGN POWER UNDER THE LAWS OF WHICH ORGANIZED: 
Delaware.                                                     

2.  SECURITIES ACT EXEMPTION APPLICABLE.                                        
-----------------------------------                                     

United Parcel Service of America, Inc., a Delaware corporation (the   
"Company"), is relying upon the exemption from the registration requirements of 
the Securities Act of 1933, as amended (the "Securities Act"), provided by      
Section 3(a)(9) thereunder, in connection with the Company's exchange offer as  
described herein (the "Exchange Offer").  The Exchange Offer is being made by   
the Company pursuant to its Offering Circular dated December 18, 1997 ("Offering
Circular"), and the related Letter of Transmittal and Notice of Guaranteed      
Delivery of even date therewith, and consists of an offer to exchange the       
Company's $700,000,000 8 3/8% Debentures due 2030 (the "New 2030 Debentures")   
for the Company's outstanding $700,000,000 8 3/8% Debentures due 2020 (the "Old 
2020 Debentures").                                                              

  There have not been any sales of securities of the same class as the New
2030 Debentures or the Old 2020 Debentures by the Company, nor are there any    
such other sales planned, by or through an underwriter at or about the time of  
the Exchange Offer transaction.                                                 

     The Company retained Deutsche Morgan Grenfell ("DMG") to advise the Company
as to the structure, process and financial matters related to the Exchange      
Offer.   DMG's services to the Company are limited solely to such advisory      
services, and DMG will not, directly or indirectly, solicit the exchange of Old 
2020 Debentures for New 2030 Debentures under the Exchange Offer or otherwise   
make recommendations with respect to acceptance or rejection of the Exchange    
Offer.  In exchange for such advisory services, DMG will be paid a flat fee     
which is not dependent upon the outcome of the transaction.  DMG will not be    
paid any commission or similar variable type of remuneration.                   

 The Company also has retained D.F. King & Co., Inc. as the "Information
Agent" and Citibank, N.A. as the "Exchange Agent" in connection with the        
Exchange Offer.  The Information Agent and Exchange Agent will provide to       
holders of Old 2020 Debentures only information otherwise contained in the      
Offering Circular and general information regarding the mechanics of the        
exchange process.  The Exchange Agent will provide the actual acceptance and    
exchange services with respect to the exchange of Old 2020 Debentures and New   
2030 Debentures.  Neither the Information Agent nor the Exchange Agent will     
solicit exchanges in connection with the Exchange Offer and will not make       
recommendations as to the acceptance or rejection of the Exchange Offer.  Both  
the Information Agent and Exchange Agent will be paid reasonable fees directly  
by the Company for their services.                                              

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There are no cash payments made or to be made by any holder of the    
outstanding Old 2020 Debentures in connection with the Exchange Offer.          

AFFILIATIONS
------------

3.  AFFILIATES.  Furnish a list or diagram of all affiliates of the Company and 
----------                                                              
indicate the respective percentages of voting securities or other bases of      
control.                                                                        

WHOLLY-OWNED SUBSIDIARIES                                                       
-------------------------                                                       

United Parcel Service Co.                                                       
United Parcel Service Deutschland Inc.                                          
United Parcel Service General Services Co.                                      
United Parcel Service, Inc.                                                     
United Parcel Service, Inc.                                                     
United Parcel Service, Inc. (Virginia)                                          
United Parcel Service Oasis Supply Corporation                                  
UPS Internet Services, Inc.                                                     
UPS Procurement Services, Inc.                                                  
UPS Professional Services, Inc.                                                 
UPS Customhouse Brokerage, Inc.                                                 
UPS International General Services Co.                                          
UPS International, Inc.                                                         
UPS International Forwarding, Inc.                                              
UPS of Ireland, Inc.                                                            
UPS of Argentina, Inc.                                                          
UPS of Brazil, Inc.                                                             
UPS of Portugal, Inc.                                                           
UPS of Norway, Inc.                                                             
United Parcel Service Espana Ltd.                                               
United Parcel Service Italia, S.R.L.                                            
UPS of China, Inc.                                                              
UPS Logistics Group, Inc.                                                       
UPS Truck Leasing, Inc.                                                         
UPS Worldwide Logistics, Inc.                                                   
Worldwide Dedicated Services, Inc.                                              
Diversified Trimodal, Inc.                                                      
Roadnet Technologies, Inc.                                                      
SonicAir, Inc.                                                                  
UPS Worldwide Forwarding, Inc.                                                  
UPICO Corporation.                                                              
UPS Aviation Services, Inc.                                                     
Merchants Parcel Delivery                                                       
Trailer Conditions, Inc.                                                        
II Morrow, Inc.                                                                 
Red Arrow Bonded Messenger Corporation                                          
UPS Air Leasing, Inc.                                                           
Avenair Corporation                                                             
Nevair Corporation                                                              
UPS Telecommunications, Inc.                                                    
UPS Properties, Inc.                                                            
E1 Paso Distribution Center, Inc. (One)                                         
E1 Paso Distribution Center, Inc. (Two)                                         
Tri-State, Distribution, Inc. (One)                                             
Tri-State, Distribution, Inc. (Two)                                             

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Tri-State, Distribution, Inc. (Three)                                           
Tri-State, Distribution, Inc. (Four)                                            
Tri-State, Distribution, Inc. (Five)                                            
Vista Distribution Center, Inc. (One)                                           
Vista Distribution Center. (Two)                                                
Vista Distribution Center, Inc. (Three)                                         
Vista Distribution Center, Inc. (Four)                                          
Vista Distribution Center, Inc. (Five)                                          
Upinsco, Inc.                                                                   
Velleb, Inc.                                                                    
Adi Realty Company                                                              
Alko Corporation                                                                
Bardale Company                                                                 
Basplas Corporation                                                             
Brastock Corporation                                                            
Brookind Corporation                                                            
Buckroe Corporation                                                             
Burdence Corporation                                                            
Chasreal, Inc.                                                                  
Cleve Company                                                                   
Cova Corporation                                                                
Dakkel Corporation                                                              
Dalho Corporation                                                               
Darico, Inc.                                                                    
Daven Corporation                                                               
Deerfield Corporation                                                           
Denado Corporation                                                              
Dullesport Corporation                                                          
Edison Corporation                                                              
Elsil Corporation                                                               
Evind Corporation                                                               
Fardak Corporation                                                              
Galanta Company                                                                 
Kylou, Inc.                                                                     
Labar Corporation                                                               
Lakefair Corporation                                                            
Mascester Company, Inc.                                                         
Maereal Company, Inc.                                                           
Mexalb Corporation                                                              
Minneagen Real Estate Company                                                   
Missjack Company                                                                
Montbill Corporation                                                            
Moroc Corporation                                                               
Newbany Corporation                                                             
Nubee, Inc.                                                                     
Oshaon Corporation                                                              
Parkprop, Inc.                                                                  
Penallen Corporation                                                            
Ralcar Corporation                                                              
Rockapar Corporation                                                            
Royoak, Incorporated                                                            
Sallad Corporation                                                              
Saluta Corporation                                                              
Saskan Corporation                                                              
Kacika Corporation                                                              
Socol Corporation                                                               
Solacal Company                                                                 
Lacalos Corporation                                                             
Sophil Company                                                                  
South Seventh Corporation                                                       
Stadiana, Inc.                                                                  
Swanpor Corporation.                                                            
Temphis Corporation                                                             
Valacal Company                                                                 
Verbal Corporation                                                              
Verlas Corporation                                                              
Willmanch Corporation                                                           
Wyoas Corporation                                                               
Wyld, Inc.                                                                      

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INTERNATIONAL SUBSIDIARIES                                                      
--------------------------                                                      

United Parcel Service Pty. Ltd.                                                 
UPS Pty. Ltd.                                                                   
United Parcel Service Speditionsgesellschaft m.b.H.                             
UPS Transport GmbH                                                              
United Parcel Service (Bahrain) WLL                                             
United Parcel Service Belgium N.V                                               
United Parcel Service (Bermuda) Ltd                                             
UPS DO Brasil & Cia                                                             
2855-8278 Quebec Inc.                                                           
724352 Ontario Inc.                                                             
United Parcel Service Canada Ltd.                                               
United Parcel Service Cayman Islands Limited                                    
UPS De San Jose, S.A.                                                           
UPS Denmark A/S                                                                 
United Parcel Services Finland OY                                               
United Parcel Service France S.N.C                                              
Prost-Transports S.A. Speditionsgesellachaft gmbH                               
United Parcel Service Deutschland Inc.                                          
UPS Air Cargo Service GmbH.                                                     
UPS Grundstuecksverwaltungs GmbH                                                
UPS Transport GmbH                                                              
UPS Transport GmbH II                                                           
UPS Worldwide Logistics GmbH                                                    
UPS Parcel Delivery Service Limited                                             
United Parcel Service CSTC Ireland Limited                                      
United Parcel Service of Ireland Limited                                        
United Parcel Service Italia, S.R.L.                                            
United Parcel Service Co., Japan Branch                                         
UPS Japan Limited                                                               
United Parcel Service Jersey Limited                                            
United Parcel Service (M)Sdn. Bhd                                               
United Parcel Service (Transport) Sdn. Bhd                                      
United Parcel Service De Mexico S.A. De C.V                                     
Prost-Transports Nederland B.V                                                  
United Parcel Service Nederland B.V                                             
UPS Norge A/S                                                                   
UPS of Norway, Inc., Oslo Branch                                                
UPS of Portugal, Inc., Lisbon Branch                                            
United Parcel Service Co., Singapore Branch                                     
United Parcel Service Singapore PTE Lted                                        
United Parcel Service Co., Korean Branch                                        
Sociedad Iversora Sanrelman, S.A                                                
United Parcel Service Espana Ltd. Y Compania, S.R.C                             
UPS Spain, S.L                                                                  
United Parcel Service Sweden AB                                                 
United Parcel Service (Switzerland)                                             
UPS International, Inc., Taiwan Branch                                          
UPS Parcel Delivery Service Limited                                             
Atexco (1991) Limited                                                           
Atlasair Limited                                                                
Carryfast Limited                                                               
IML Air Services Group Limited                                                  
United Parcel Service of America                                                
UPS (UK) Limited                                                                
UPS Limited                                                                     
UPS of America Limited                                                          

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MANAGEMENT AND CONTROL
----------------------

4. DIRECTORS AND EXECUTIVE OFFICERS.  List the names and complete mailing       
---------------------------------                                         
addresses of all directors and executive officers of the applicant and all      
persons chosen to become directors or executive officers. Indicate all offices  
with the applicant held or to be held by each person named.                     

                                                                · Download Table


NAME                         ADDRESS                       OFFICE               
----------------------  ------------------  ------------------------------------
                                                                                

John W. Alden           55 Glenlake Pkwy.   Vice Chairman, Senior Vice          
                        Atlanta, GA  30328  President and Director              

Robert J. Clanin        55 Glenlake Pkwy.   Senior Vice President, Treasurer,   
                        Atlanta, GA  30328  Chief Financial Officer and Director

James P. Kelly          55 Glenlake Pkwy.   Chairman of the Board, Chief        
                        Atlanta, GA  30328  Executive Officer and Director      

Kenneth W. Lacy         55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

Joseph R. Moderow       55 Glenlake Pkwy.   Senior Vice President, Secretary,   
                        Atlanta, GA  30328  General Counsel and Director        

Kent C. Nelson          55 Glenlake Pkwy.   Director, Former Chairman of the    
                        Atlanta, GA  30328  Board and Former Chief Executive    
                                            Officer                             

Joseph M. Pyne          55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

Michael L. Eskew        55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

Edward L. Schroeder     55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

Lea N. Soupata          55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

Calvin E. Tyler, Jr.    55 Glenlake Pkwy.   Senior Vice President and Director  
                        Atlanta, GA  30328                                      

Charles L. Schaffer     55 Glenlake Pkwy.   Senior Vice President and Director  
                        Atlanta, GA  30328                                      

Thomas H. Weidemeyer    55 Glenlake Pkwy.   Senior Vice President               
                        Atlanta, GA  30328                                      

William H. Brown        55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

Carl Kayser             55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

Gary E. MacDougal       55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

Victor A. Pelson        55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

John W. Rogers          55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

Robert M. Teeter        55 Glenlake Pkwy.   Director                            
                        Atlanta, GA  30328                                      

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5. PRINCIPAL OWNERS OF VOTING SECURITIES.  Furnish the following information as 
-------------------------------------                                     
to each person owning 10 percent or more of the voting securities of the        
applicant, as of November 30, 1997.                                             

No person owns 10 percent or more of voting securities of the Company as of 
such date.                                                                      

UNDERWRITERS
------------

6. UNDERWRITERS.  Give the name and complete mailing address of (a) each person 
------------                                                              
who, within three years prior to the date of filing the application, acted as an
underwriter of any securities of the obligor which were outstanding on the date 
of filing the application, and (b) each proposed principal underwriter of the   
securities proposed to be offered. As to each person specified in (a), give the 
title of each class of securities underwritten.                                 

There are no underwriters of the securities proposed to be offered in the   
Exchange Offer.  Following are the underwriters identified in Section 6(a)      
hereof:                                                                         

A. The following were the underwriters in the Company's issuance in         
January 1996 of $200 million of 5.50% Eurobond Notes due January 1999:          

Merrill Lynch International Limited                                             
Citibank International plc                                                      
Goldman Sachs International                                                     
Paribas Capital Markets                                                         
Barclays de Zoete Wedd Limited                                                  
DKB International                                                               
HSBC Markets                                                                    
Morgan Stanley & Co. Incorporated                                               
CS First Boston                                                                 
Lehman Brothers                                                                 
SBC Warburg                                                                     
A Division of Swiss Bank Corporation                                        
Caisse des Depots et Consignations                                              
Dresdner Bank Aktiengesellschaft                                                
Heritage Finance & Trust Co.                                                    
Paine Webber International (UK) Ltd.                                            
Deutsche Morgan Grenfell                                                        
J.P. Morgan Securities Ltd.                                                     
Banca del Gottardo                                                              
CBI-TDB Union Bancaire Privee                                                   
Darier, Hentsch & Cie                                                           
IBJ International plc                                                           
UBS Limited                                                                     

The mailing address for the above underwriters is: 25 Ropemaker Street, London  
ECZY 9LY.                                                                       

B. The following were the underwriters in the Company's issuance in         
April 1996 of 200 million of 3.25% Swiss Franc Notes due October 1999:          

Merrill Lynch Capital Markets AG                                                
Credit Suisse                                                                   
Union Bank of Switzerland                                                       
Cantonalbanks of Switzerland                                                    
Groupement des Banquiers Prives Genevois                                        
Swiss Bank Corporation                                                          
Citibank (Switzerland)                                                          
Swiss Volksbank                                                                 
Bank Julius Bar & Co. Ltd                                                       
Bank Leu Ltd                                                                    
LGT Bank in Liechtenstein Aktiengesellschaft                                    
Bank J. Vontobel & Co. AG                                                       
Banque Nationale de Paris (Suisse) SA                                           
Banque Paribas (Suisse) S.A.                                                    
Deutsche Bank (Schweiz) AG                                                      
Lehman Brothers Bank (Switzerland)                                              
Salomon Brothers International Limited                                          
Union Bancaire Privee                                                           
Verwaltungs-und Privat-Bank Aktiengesellschaft                                  
Bank Sarasin & CIE.                                                             
Banque Bruxelles Lambert (Switzerland) S.A.                                     
Dai-Ichi Kangyo Bank (Schweiz) AG                                               
Dresdner Bank (Schweiz) AG                                                      
Liechtensteinische Landesbank Aktiengesellschaft                                
The Industrial Bank of Japan (Switzerland) Limited                              
ABN Amro Bank (Schweiz)                                                         
Banca del Gottardo                                                              
Bank Cial (Schweiz)                                                             
Bank von Ernst & CIE AG                                                         
Lloyds Bank plc                                                                 
Societe Generale Bank & Trust                                                   
Bdl Banco di Lugano                                                             
Coop Bank                                                                       
Finter Bank Zurich                                                              
Fuji Bank (Schweiz) AG                                                          
Rud, Blass & CIE AG                                                             
Banca del Sempione                                                              
Bank Adamas AG                                                                  
Bank Linth                                                                      
Handelsfinanz-CCF Bank                                                          
Luzerner Landbank AG                                                            
New Japan Bank (Schweiz) AG                                                     
Sparkasse Schwyz                                                                

The mailing address for the above underwriters is: 5, Stauffacherstrasse, 8004  
Zurich, Switzerland.                                                            

C. The following were the underwriters in the Company's issuance in February
1997 of 100 million of 6.875% Pound Sterling Notes due February 2000:           

Merrill Lynch International                                                     
Banca del Gottardo                                                              
Citibank International plc                                                      
Darier, Hentsch & Cie, Geneva                                                   
Hambros Bank Limited                                                            
HSBC Markets                                                                    
Paribas Capital Markets                                                         
SBC Warburg                                                                     
Barclays de Zoete Wedd Limited                                                  
Credit Suisse First Boston                                                      
Dresdner Kleinwort Benson                                                       
HFT (GUERNSEY) LTD                                                              
Lehman Brothers                                                                 
Salomon Brothers International Limited                                          
UBS Limited                                                                     
Union Bancaire Privee                                                           

The mailing address for the above underwriters is: 25 Ropemaker Street, London  
ECZY 9LY.                                                                       

 D. The following were the underwriters in the Company's issuance in December,
1989 of $500 million of 8 3/8% Debentures due 2020:                             

Merrill Lynch Capital Markets                                                   
The First Boston Corporation                                                    
Salomon Brothers Inc.                                                           

The mailing address for the above underwriters is: North Tower, World Financial 
Center, New York, New York  10281-1209.                                         

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E. The following were the underwriters in the Company's issuance in         
April 1997 of 6.625% EuroNotes due April 2001:                                  

Credit Suisse First Boston (Europe) Limited                                     
Banca del Gottardo                                                              
Banque Bruxelles Lambert S.A./Bank Brussels Lambert                             
Banque Nationale de Paris London Branch                                         
Citibank International plc                                                      
Deutsche Bank AG London                                                         
Dresdner Bank Aktiengesellschaft                                                
Goldman Sachs International                                                     
Lehman Brothers International (Europe)                                          
Merrill Lynch International                                                     
Salomon Brothers International Limited                                          
Swiss Bank Corporation                                                          
UBS Limited                                                                     

The mailing address for the above underwriters is:  One Cabot Square, London    
E14 4QJ.                                                                        

 F. The following were the underwriters in the Company's issuance in July 1997
of 6.25% Notes due July 2000:                                                   

                                                                · Download Table

                                                                                   
Credit Suisse First Boston (Europe) Limited  Deutsche Bank AG London               
Tokyo-Mitsubishi International plc           Dresdner Bank Aktiengesellschaft      
Credit Suisse First Boston (Europe) Limited  Darier, Hentsch & Cie                 
Swiss Bank Corporation                       Goldman Sachs International           
UBS Limited                                  Heritage Finance & Trust Co.          
ABN AMRO Bank N.V.                           J.P. Morgan Securities Ltd.           
Banca del Gottardo                           Lehman Brothers International (Europe)
Banque Bruxelles Lambert S.A.                Salomon Brothers International Limited
Banque Nationale de Paris London Branch      Merrill Lynch International           
Banque Paribas                               CIBC Wood Gundy plc                   
Citibank International plc                   Commerzbank Aktiengesellschaft        

The mailing address for the above underwriters is: 25 Ropemaker Street, London  
EC2Y 9LY.                                                                       

CAPITAL SECURITIES
------------------

7. CAPITALIZATION.  The following table sets the consolidated capitalization
--------------                                                        
of the Company as of November 30, 1997.                                         

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Title of Class          Amount Authorized       Amount Outstanding              
------------------      ------------------      ------------------              
Common Stock            900,000,000 shares      570,000                         
$.10 par value                                                                  

Preferred Stock,        200,000,000 shares      none                            
no par value                                                                    

The Company's Common Stock is entitled to one vote per share in the election
of directors and other matters, except that, generally, any shareowner, or      
shareowners acting as a group, who beneficially own more than 10% of the        
Company's voting stock are entitled to only one one-hundreth of a vote with     
respect to each vote in excess of 10% of the voting power of the then-          
outstanding shares of voting stock.  The Common Stock does not have preemptive  
or other right to subscribe to additional shares.  The Preferred Stock does not 
have voting rights.                                                             

                                                        · Enlarge/Download Table

                                                                                                   ACTUAL     
                                                                                               ---------------
                                                                                               (000'S OMITTED)
                                                                                                              
LONG-TERM DEBT                                                                                                
8 3/8% debentures, due April 2020.............................................................   $  700,000   
Commercial Paper..............................................................................      592,786   
5.50% Eurobond notes, due January 1999........................................................      200,852   
Industrial development bonds, Philadelphia Airport facilities, due December 2015..............      100,000   
Capital lease obligations, due 2007--2009.....................................................      558,743   
3.25% 200 million Swiss Franc notes, due October 1999.........................................      166,000   
6.875% 100 million Pound Sterling notes, due February 2000....................................      165,503   
6.625% EuroNotes, due April 2001..............................................................      200,000   
6.25% EuroNotes, due July 2000................................................................      298,537   
Installment notes, mortgages and bonds........................................................       57,994   
                                                                                                 ----------   

  Less current maturities.....................................................................       40,039   
  Less commercial paper to be repaid..........................................................       70,000   
                                                                                                 ----------   
     Total Long-Term Debt.....................................................................    2,930,376   
                                                                                                 ----------   
SHAREOWNERS' EQUITY                                                                                           
Preferred stock, no par value,                                                                                
  authorized 200,000,000 shares, none issued..................................................          ---   
Common Stock, par value $.10 per share,                                                                       
  authorized 900,000,000 shares, outstanding 570,000,000 shares...............................       57,000   
Additional paid-in capital....................................................................       95,406   
Retained earnings.............................................................................    6,130,145   
Cumulative foreign currency adjustments.......................................................      (67,640)  
                                                                                                 ----------   
     Total Shareowners' Equity................................................................    6,214,911   
                                                                                                 ----------   
                                                                                                 $9,145,287   
                                                                                                 ==========   

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INDENTURE SECURITIES
--------------------

8. ANALYSIS OF INDENTURE PROVISIONS.  Insert at this point the analysis of  
--------------------------------                                      
indenture provisions required under Section 305(a)(2) of the Trust Indenture Act
of 1939, as amended.                                                            

For purposes of this Section 8, the "Indenture" shall refer to the    
Indenture, dated as of December 18, 1997, by and between United Parcel Service  
of America, Inc. and Citibank, N.A., as Trustee (the "Trustee").  Other         
capitalized but otherwise undefined terms shall have the meanings ascribed      
thereto in the Indenture or the Offering Circular.                              

(A) EVENTS OF DEFAULT                                                 

The Indenture defines an Event of Default with respect to New 2030    
Debentures as being any one of the following events:  (a) default in the payment
of any interest on the New 2030 Debentures when due, and the continuance of such
default for a period of 30 days; (b) default in the payment of principal of or  
any premium on the New 2030 Debentures at the date on which such principal      
becomes due and payable as provided in the Security or in the Indenture, whether
at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise; (c) default in the deposit of any sinking fund payment, when and as  
due on the New 2030 Debentures; (d) default in the performance or breach of any 
covenant or warranty a default in performance or breach of which is specifically
dealt with in the Indenture) and the continuance of such default or breach for a
period of 60 days after written notice as provided in the Indenture; or (e)     
certain events involving bankruptcy, insolvency or reorganization.              

The Indenture provides that if any Event of Default specified therein 
shall occur and be continuing with respect to the New 2030 Debentures, other    
than an Event of Default involving bankruptcy, insolvency or reorganization,    
either the Trustee or the Holders of 25% in principal amount of the outstanding 
New 2030 Debentures may declare the principal of the New 2030 Debentures to be  
due and payable.  If an Event of Default described in clause (e) above with     
respect to the New 2030 Debentures at the time outstanding shall occur, the     
principal amount of all of the New 2030 Debentures will automatically, and      
without any action by the Trustee or any Holder, become immediately due and     
payable.  The Holders of a majority in aggregate principal amount of the New    
2030 Debentures may, on behalf of all Holders of New 2030 Debentures, waive any 
past default under the Indenture with respect to the New 2030 Debentures, except
a default (a) in the payment of principal of, or any premium or interest on, any
Security, and (b) in respect of a covenant or provision of the Indenture which  
cannot be modified or amended without the consent of the Holder of each         
outstanding Security.                                                           

 No Holder of a Security will have any right to institute any proceeding
with respect to the Indenture, or for the appointment of a receiver or a        
trustee, or for any other remedy thereunder, unless (i) such Holder has         
previously given to the Trustee written notice of a continuing Event of Default 
with respect to the New 2030 Debentures, (ii) the Holders of at least 25% in    
aggregate principal amount of the Outstanding New 2030 Debentures has made      
written request to the                                                          

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Trustee to institute such proceeding as trustee (iii) the Holder or Holders have
offered to the Trustee reasonable indemnity against the costs, expenses and     
liabilities to be incurred in compliance with such request, (iv) the Trustee has
failed to institute such proceeding, and has not received from the Holders of a 
majority in aggregate principal amount of the outstanding New 2030 Debentures a 
direction inconsistent with such request, within 60 days after such notice,     
request and offer.  However, such limitations do not apply to a suit instituted 
by a Holder of a Security for the enforcement of payment of the principal of or 
any premium or interest on such Security on or after the applicable due date    
specified in such Security.                                                     

(B) AUTHENTICATION AND DELIVERY                                       

The New 2030 Debentures shall be executed on behalf of the Company by 
its Chairman of the Board, its Vice Chairman of the Board, its President or one 
of its Vice Presidents, under the Company's corporate seal reproduced thereon   
and attested by the Secretary or one of the Assistant Secretaries.  Upon proper 
delivery of New 2030 Debentures to the Trustee for authentication, the Trustee  
shall authenticate and deliver such securities.  The Indenture does not contain 
provisions regarding the application of the proceeds from issuance of the New   
2030 Debentures.                                                                

(C) RELEASE OF PROPERTY SUBJECT TO LIEN                               

    The Company's obligations under the New 2030 Debentures are not secured by
any liens or security interests on any assets of the Company. Accordingly, the  
Indenture does not contain any provisions with respect to the release or the    
release and substitution of any property subject such a lien.                   

(D)  SATISFACTION AND DISCHARGE                                       

The Indenture shall cease to be of further effect, after certain      
actions are taken, when (1) either: (i) all the New 2030 Debentures have been   
delivered to the Trustee for cancellation, or (ii) all New 2030 Debentures have 
(or will within one year) become due and payable or are to be redeemed within   
one year, and the Company has deposited in trust funds sufficient to pay off and
discharge such outstanding New 2030 Debentures; (2) the Company has paid all    
other sums required to be paid under the Indenture; and (3) the Company has     
delivered an appropriate opinion of counsel.                                    

(E) EVIDENCE OF COMPLIANCE WITH CONDITIONS AND COVENANTS              

The Company will deliver to the Trustee, within 120 days after the end
of each fiscal year, a Certificate stating whether or not the Company has       
fulfilled all its obligations under the Indenture throughout the year, and if a 
default has occurred, providing details at to the circumstances of such         
default(s).  If one or more Events of Default occurs under the Indenture, the   
Company shall also deliver to the Trustee a Certificate specifying such event or
other action within five Business Days of its occurrence.                       

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 9. OTHER OBLIGORS.  Give the name and complete mailing address of any person,
--------------                                                        
other than the applicant, who is an obligor upon the indenture securities.      

No other person is an obligor with respect to the New 2030 Debentures.

CONTENTS OF APPLICATION FOR QUALIFICATION 
----------------------------------------- 

This application for qualification comprises:                         

(a) Pages numbered one to _____________, consecutively;               

 (b) The statement of eligibility and qualification of the Trustee under
the Indenture to be qualified (on Form T-1);                                    

 (c) The following exhibits, in addition to those filed as a part of the
statement of eligibility and qualification of the trustee:                      

(i)    Exhibit T3A -- The Company's Restated Certificate of   
-----------                                     
       Incorporation (incorporated by reference to Exhibit 4(iv) to Form S-8
Registration Statement (Registration No. 33-19622);           

         (ii)   Exhibit T3B -- The Company's Bylaws, as amended (incorporated by
-----------                                     
   reference to Current Report on Form 8-K, filed December 21, 1995;

    (iii)  Exhibit T3C -- Form of Indenture, dated as of December ___,
-----------                                     
  1997, by and between the Company and Citibank, N.A., as Trustee;

(iv)   Exhibit T3D -- Not applicable;                         
-----------                                     

         (v)    Exhibit T3E.1 -- Form of Offering Circular, dated as of December
-------------                                   
___, 1997; [To Be Filed by Amendment]                         

    (vi)   Exhibit T3E.2 -- Form of Letter of Transmittal, dated as of
-------------                                   
December ___, 1997; [To Be Filed by Amendment]                

         (vii)  Exhibit T3E.3 -- Form of Notice of Guaranteed Delivery, dated as
-------------                                   
of December ___, 1997;                                        

(viii) Exhibit T3F -- Cross-Reference Sheet;                  
-----------                                     

(ix)   Exhibit 99 -- Form T-1 of Citibank, N.A.               
----------                                      

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SIGNATURE 
--------- 

Pursuant to the requirements of the Trust Indenture Act of 1939, as   
amended, the Company, United Parcel Service of America, Inc., a corporation     
organized and existing under the laws of the State of Delaware, has duly caused 
this application to be signed on its behalf by the undersigned, thereunto duly  
authorized, and its seal to be hereunto affixed and attested, all in the city of
Atlanta, and State of Georgia, on the 18th day of December, 1997.               

(SEAL)                                 UNITED PARCEL SERVICE OF AMERICA, INC.   

                   By: /s/ Ned J. Winsor
                                          ------------------------------------

                 Name: Ned J. Winsor
                                            ----------------------------------

                                    Title: Assistant Treasurer - Corporate
                                           -------------------------------
                   Finance
                   -------
Attest: /s/ Catherine Harrison                                                  
-----------------------------                                   

Name:       Catherine Harrison                                                  
-------------------------------                                     

Title:                                                                          
------------------------------

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Dates Referenced Herein and Documents Incorporated By Reference

		Referenced-On Page
This T-3 Filing	Date	First	Last	Other Filings

	12/21/95	12
	11/30/97	7	8
Filed On / Filed As Of	12/18/97	1	10

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United Parcel Service of America Inc · T-3 · On 12/18/97

Filed On 12/18/97 · SEC File 22-22295 · Accession Number 950109-97-7591

Application for Qualification of a Trust Indenture · Form T-3Filing Table of Contents

T-3 · Application for Qualification of a Trust Indenture

Dates Referenced Herein and Documents Incorporated By Reference

Application for Qualification of a Trust Indenture · Form T-3
Filing Table of Contents