RYDER SYSTEM INC — Director's Dealing 2007

Aug 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2007-08-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-03	Common Stock	M	20000	$36.88	Acquired	39517	Direct
2007-08-03	Common Stock	S	10600	$55.50	Disposed	28917	Direct
2007-08-03	Common Stock	S	2900	$55.51	Disposed	26017	Direct
2007-08-03	Common Stock	S	1300	$55.52	Disposed	24717	Direct
2007-08-03	Common Stock	S	2100	$55.53	Disposed	22617	Direct
2007-08-03	Common Stock	S	100	$55.54	Disposed	22517	Direct
2007-08-03	Common Stock	S	300	$55.55	Disposed	22217	Direct
2007-08-03	Common Stock	S	800	$55.56	Disposed	21417	Direct
2007-08-03	Common Stock	S	700	$55.58	Disposed	20717	Direct
2007-08-03	Common Stock	S	1100	$55.59	Disposed	19617	Direct
2007-08-03	Common Stock	S	100	$55.60	Disposed	19517	Direct
2007-08-03	Common Stock	I	1192	$54.52	Disposed	988	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-03	Stock Option (right to buy)	$36.88	M	20000	Disposed	2011-02-12	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2288	Indirect

Footnotes

F1: Includes 3 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan.

F2: 6,667 stock options vested on February 12, 2005, 6,666 stock options vested on February 12, 2006 and 6,667 stock options vested on February 12, 2007.