RYDER SYSTEM INC — Director's Dealing 2004

Oct 6, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2004-10-01

Reporting Person: VARNEY CHRISTINE A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-01	Common Stock	A	317	$0.00	Acquired	7193	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	354	Indirect

Footnotes

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