RYDER SYSTEM INC — Director's Dealing 2004

Sep 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2004-09-02

Reporting Person: GREENE GREGORY F (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-02	Common Stock	S	1900	$44.45	Disposed	8941	Direct
2004-09-02	Common Stock	S	625	$44.49	Disposed	8316	Direct
2004-09-02	Common Stock	S	400	$44.48	Disposed	7916	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	440	Indirect
Common Stock	543	Indirect

Footnotes

F1: Includes 11 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan.