RYDER SYSTEM INC — Director's Dealing 2004

Mar 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2004-03-19

Reporting Person: FUENTE DAVID I (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-19	Common Stock	A	9.0000	—	Acquired	6171.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1411.0000	Indirect

Footnotes

F1: Grant of restricted stock units pursuant to the dividend reinvestment feature of the Issuer's Board of Directors Stock Award Plan.