RYDER SYSTEM INC — Director's Dealing 2008

May 1, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2008-04-29

Reporting Person: RENEHAN THOMAS S (EVP- FMS Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-29	Common Stock	M	6497	$52.48	Acquired	22638	Direct
2008-04-29	Common Stock	S	1800	$68.234	Disposed	20838	Direct
2008-04-29	Common Stock	S	1100	$68.20	Disposed	19738	Direct
2008-04-29	Common Stock	S	200	$68.21	Disposed	19538	Direct
2008-04-29	Common Stock	S	300	$68.22	Disposed	19238	Direct
2008-04-29	Common Stock	S	200	$68.23	Disposed	19038	Direct
2008-04-29	Common Stock	S	400	$68.25	Disposed	18638	Direct
2008-04-29	Common Stock	S	300	$68.28	Disposed	18338	Direct
2008-04-29	Common Stock	S	100	$68.30	Disposed	18238	Direct
2008-04-29	Common Stock	S	200	$68.31	Disposed	18038	Direct
2008-04-29	Common Stock	S	1400	$68.32	Disposed	16638	Direct
2008-04-29	Common Stock	S	497	$68.3201	Disposed	16141	Direct
2008-04-29	Common Stock	S	308	$68.3266	Disposed	15833	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-29	Stock Option (right to buy)	$52.48	M	6497	Disposed	2014-02-09	Common Stock (6497)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6444	Indirect

Footnotes

F1: Includes 1 share of common stock acquired by the reporting person under the Company's dividend reinvestment plan since the date of the reporting person's last Section 16 filing.