RYDER SYSTEM INC — Director's Dealing 2008

Feb 20, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2008-02-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-15	Common Stock	S	200	$58.22	Disposed	79069	Direct
2008-02-15	Common Stock	S	100	$57.79	Disposed	78969	Direct
2008-02-15	Common Stock	S	100	$58.71	Disposed	78869	Direct
2008-02-15	Common Stock	S	100	$58.26	Disposed	78769	Direct
2008-02-15	Common Stock	S	100	$58.41	Disposed	78669	Direct
2008-02-15	Common Stock	S	100	$58.49	Disposed	78569	Direct
2008-02-15	Common Stock	S	200	$58.46	Disposed	78369	Direct
2008-02-15	Common Stock	S	100	$58.48	Disposed	78269	Direct
2008-02-15	Common Stock	S	100	$58.40	Disposed	78169	Direct
2008-02-15	Common Stock	S	100	$58.53	Disposed	78069	Direct
2008-02-15	Common Stock	S	200	$58.35	Disposed	77869	Direct
2008-02-15	Common Stock	S	100	$58.42	Disposed	77769	Direct
2008-02-15	Common Stock	S	100	$58.36	Disposed	77669	Direct
2008-02-15	Common Stock	S	100	$58.54	Disposed	77569	Direct
2008-02-15	Common Stock	S	100	$58.58	Disposed	77469	Direct
2008-02-15	Common Stock	S	100	$58.68	Disposed	77369	Direct
2008-02-15	Common Stock	S	100	$58.61	Disposed	77269	Direct
2008-02-15	Common Stock	S	100	$58.67	Disposed	77169	Direct
2008-02-15	Common Stock	S	100	$58.75	Disposed	77069	Direct
2008-02-15	Common Stock	S	100	$58.59	Disposed	76969	Direct
2008-02-15	Common Stock	S	100	$58.24	Disposed	76869	Direct
2008-02-15	Common Stock	S	300	$58.06	Disposed	76569	Direct
2008-02-15	Common Stock	S	100	$58.13	Disposed	76469	Direct
2008-02-15	Common Stock	S	200	$58.29	Disposed	76269	Direct
2008-02-15	Common Stock	S	200	$57.97	Disposed	76069	Direct
2008-02-15	Common Stock	S	100	$58.16	Disposed	75969	Direct
2008-02-15	Common Stock	S	100	$58.34	Disposed	75869	Direct
2008-02-15	Common Stock	S	100	$58.03	Disposed	75769	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-15	Stock Option (right to buy)	$22.10	M	25000	Disposed	2010-02-13	Common Stock (25000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3579	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 May 18, 2007.

F2: 20,667 stock options vested on February 13, 2005 and 4,333 stock options vested on February 13, 2006.