For the rate implementation that took place in January 2001, stamp production was able to reduce the number of rate change transitional stamps by approximately eight billion stamps with a resultant reduction in costs of $26 million.

Additional savings have been realized by competitively bidding many of the commemorative stamp issues among the private supplier base. An overall cost reduction of 34 cents per thousand was attained, with a resultant overall cost reduction that resulted in a savings of $15 million from pricing based on FY 2000. (FY 2000 unit costs were $3.17/1,000 stamps: FY 2001 unit costs were $2.83/1,000 stamps.

We successfully met all stamp production and distribution commitments for both the commemorative and definitive stamp programs.