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: GREENE GREGORY F (EVP and Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-29	Common Stock	M	6322	$52.48	Acquired	16559	Direct
2008-04-29	Common Stock	S	5122	$68.50	Disposed	11437	Direct
2008-04-29	Common Stock	S	400	$68.51	Disposed	11037	Direct
2008-04-29	Common Stock	S	500	$68.56	Disposed	10537	Direct
2008-04-29	Common Stock	S	300	$68.65	Disposed	10237	Direct
2008-04-30	Common Stock	S	225	$68.3301	Disposed	10012	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	6322	Disposed	2014-02-09	Common Stock (6322)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1203	Indirect
Common Stock	1788	Indirect