RYDER SYSTEM INC — Director's Dealing 2006

May 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2006-05-25

Reporting Person: Fatovic Robert D (EVP-Gen. Counsel & Corp. Sec.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-25	Common Stock	M	2500	$26.83	Acquired	10661	Direct
2006-05-25	Common Stock	M	8000	$22.10	Acquired	18661	Direct
2006-05-25	Common Stock	M	8667	$36.88	Acquired	27328	Direct
2006-05-25	Common Stock	S	267	$53.91	Disposed	27061	Direct
2006-05-25	Common Stock	S	12500	$53.75	Disposed	14561	Direct
2006-05-25	Common Stock	S	200	$53.72	Disposed	14361	Direct
2006-05-25	Common Stock	S	181	$53.74	Disposed	14180	Direct
2006-05-25	Common Stock	S	7400	$53.70	Disposed	6780	Direct
2006-05-25	Common Stock	S	600	$53.55	Disposed	6180	Direct
2006-05-25	Common Stock	S	1800	$53.50	Disposed	4380	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-25	Stock Option (right to buy)	$26.83	M	2500	Disposed	2009-02-14	Common Stock (2500)	Direct
2006-05-25	Stock Option (right to buy)	$22.10	M	8000	Disposed	2010-02-13	Common Stock (8000)	Direct
2006-05-25	Stock Option (right to buy)	$36.88	M	8667	Disposed	2011-02-12	Common Stock (8667)	Direct

Footnotes

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

F2: 4,334 stock options vested on February 12, 2005 and 4,333 stock options vested on February 12, 2006.