RYDER SYSTEM INC — Director's Dealing 2004

Oct 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2004-10-03

Reporting Person: SANCHEZ ROBERT E (Senior Vice President & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-03	Common Stock	F	264	$47.28	Disposed	6506	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1943	Indirect
Common Stock	2199	Indirect

Footnotes

F1: Represents shares of common stock withheld upon the vesting of restricted stock units for the payment of the related tax liability.

F2: Includes 272 shares of common stock owned by the reporting person through the Ryder System, Inc. Stock Purchase Plan for Employees.