RYDER SYSTEM INC — Director's Dealing 2006

Jan 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2006-01-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-03	Common Stock	M	50000	$21.25	Acquired	138330	Direct
2006-01-03	Common Stock	S	50000	$40.27	Disposed	88330	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-03	Stock Option (right to buy)	$21.25	M	50000	Disposed	2010-07-26	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2648	Indirect

Footnotes

F1: The option exercise 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 $39.64 to $41.03.