RYDER SYSTEM INC — Director's Dealing 2003

Oct 2, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2003-10-01

Reporting Person: VARNEY CHRISTINE A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-01	Common Stock	A	507	—	Acquired	6337	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	349	Indirect

Footnotes

F1: Grant of common stock under the Issuer's Directors Stock Plan in lieu of a portion of Ms. Varney's annual retainer as a Director.