RYDER SYSTEM INC — Director's Dealing 2005

Mar 1, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2005-02-25

Reporting Person: GARCIA ART A (Vice President & Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-25	Common Stock	M	2067	$20.62	Acquired	5144	Direct
2005-02-25	Common Stock	M	3667	$26.83	Acquired	8811	Direct
2005-02-25	Common Stock	M	3000	$22.10	Acquired	11811	Direct
2005-02-25	Common Stock	S	234	$42.56	Disposed	11577	Direct
2005-02-25	Common Stock	S	800	$42.55	Disposed	10777	Direct
2005-02-25	Common Stock	S	500	$42.54	Disposed	10277	Direct
2005-02-25	Common Stock	S	300	$42.53	Disposed	9977	Direct
2005-02-25	Common Stock	S	6900	$42.50	Disposed	3077	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-25	Stock option (right to buy)	$20.62	M	2067	Disposed	2011-03-01	Common Stock (2067)	Direct
2005-02-25	Stock option (right to buy)	$26.83	M	3667	Disposed	2009-02-14	Common Stock (3667)	Direct
2005-02-25	Stock option (right to buy)	$22.10	M	3000	Disposed	2010-02-13	Common Stock (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1187	Indirect
Common Stock	78	Indirect