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: 2005-02-24

Reporting Person: GREENE GREGORY F (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-24	Common Stock	I	1765	$42.66	Acquired	1765	Indirect
2005-02-25	Common Stock	M	5000	$26.83	Acquired	13412	Direct
2005-02-25	Common Stock	M	4000	$22.10	Acquired	17412	Direct
2005-02-25	Common Stock	S	9000	$42.62	Disposed	8412	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-25	Stock option (right to buy)	$26.83	M	5000	Disposed	2009-02-14	Common Stock (5000)	Direct
2005-02-25	Stock option (right to buy)	$22.10	M	4000	Disposed	2010-02-13	Common Stock (4000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	547	Indirect
Common Stock	444	Indirect