RYDER SYSTEM INC — Director's Dealing 2007

Mar 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2007-02-26

Reporting Person: TEGNELIA ANTHONY G (Pres.-US Fleet Mgmt Solutions)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-26	Common Stock	M	8333	$36.88	Acquired	23158	Direct
2007-02-26	Common Stock	M	10000	$44.885	Acquired	33158	Direct
2007-02-26	Common Stock	M	10000	$42.725	Acquired	43158	Direct
2007-02-26	Common Stock	S	28333	$53.9636	Disposed	14825	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-26	Stock Option (right to buy)	$36.88	M	8333	Disposed	2011-02-12	Common Stock (8333)	Direct
2007-02-26	Stock Option (right to buy)	$44.885	M	10000	Disposed	2012-02-10	Common Stock (10000)	Direct
2007-02-26	Stock Option (right to buy)	$42.725	M	10000	Disposed	2013-02-13	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	238	Indirect
Common Stock	1001	Indirect

Footnotes

F1: This reflects the average price at which the shares were sold. The sales prices ranged from $53.80 to $54.09.

F2: 5,000 stock options vested on February 10, 2006 and 5,000 stock options vested on February 10, 2007.