UPS expects to complete the transaction early in the second quarter of 2005, subject to customary closing conditions.

The Warsaw-based Stolica offers customers a full suite of domestic delivery services through a strong nationwide network backed by advanced technology and an experienced workforce. The company has been operating in Poland since 1993. Stolica’s customers include some of the most recognised brands in Poland across a broad range of industries, and company sales in 2004 totalled almost PLN 200 million (US$64m).

“This acquisition is an ideal strategic and operational fit for UPS,” said Wolfgang Flick, president, UPS Europe. “Stolica is a well-established company whose network and capabilities strengthen UPS’s ability to manage local customers’ shipments into, within and out of Poland. UPS has enjoyed a growing business in the country and now will be even better positioned to support companies in Poland with their domestic and international trade needs.”

UPS has offered service in Poland since 1992, and in 2004, the year the country joined the European Union (EU), UPS enjoyed a nearly 35% gain in export volume growth from Poland compared to the prior year