RYDER SYSTEM INC — Director's Dealing 2007

Jan 18, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2007-01-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-16	Common Stock	M	27000	$26.83	Acquired	109257	Direct
2007-01-16	Common Stock	S	27000	$52.6828	Disposed	82257	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-16	Stock Option (right to buy)	$26.83	M	27000	Disposed	2009-02-14	Common Stock (27000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3107	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 August 2, 2006.

F2: This reflects the average price at which the shares were sold. The sales prices ranged from $52.44 to $53.05.

F3: 4,667 stock options vested on February 15, 2004 and 22,333 stock options vested on February 15, 2005.