RYDER SYSTEM INC — Director's Dealing 2006

Feb 4, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2006-02-01

Reporting Person: SWIENTON GREGORY T (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-01	Common Stock	M	25700	$21.25	Acquired	114030	Direct
2006-02-01	Common Stock	M	24300	$25.9688	Acquired	138330	Direct
2006-02-01	Common Stock	S	50000	$43.8897	Disposed	88330	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-01	Stock Option (right to buy)	$21.25	M	25700	Disposed	2010-07-26	Common Stock (25700)	Direct
2006-02-01	Stock Option (right to buy)	$25.9688	M	24300	Disposed	2009-06-13	Common Stock (24300)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2745	Indirect

Footnotes

F1: The option exercises and stock sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan established by the Reporting Person on May 27, 2005.

F2: This reflects the average price at which the shares were sold. The sales prices ranged from $43.49 to $44.51.