RYDER SYSTEM INC — Director's Dealing 2006

Jun 2, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2006-05-31

Reporting Person: SANCHEZ ROBERT E (EVP - FMS Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-31	Common Stock	M	8333	$26.83	Acquired	13361	Direct
2006-05-31	Common Stock	M	8000	$22.10	Acquired	21361	Direct
2006-05-31	Common Stock	S	16200	$53.59	Disposed	5161	Direct
2006-05-31	Common Stock	S	133	$53.60	Disposed	5028	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-31	Stock Option (right to buy)	$26.83	M	8333	Disposed	2009-02-14	Common Stock (8333)	Direct
2006-05-31	Stock Option (right to buy)	$22.10	M	8000	Disposed	2010-02-13	Common Stock (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2181	Indirect
Common Stock	2275	Indirect

Footnotes

F1: 4,000 stock options vested on February 13, 2005 and 4,000 stock options vested on February 13, 2006.