RYDER SYSTEM INC — Director's Dealing 2008

Feb 25, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2008-02-21

Reporting Person: GREENE GREGORY F (EVP and Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-21	Common Stock	M	4000	$44.885	Acquired	14237	Direct
2008-02-21	Common Stock	M	3166	$42.725	Acquired	17403	Direct
2008-02-21	Common Stock	S	7166	$59.8543	Disposed	10237	Direct
2008-02-21	Common Stock	I	1190	$58.82	Acquired	1190	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-21	Stock Option (right to buy)	$44.885	M	4000	Disposed	2012-02-10	Common Stock (4000)	Direct
2008-02-21	Stock option (right to buy)	$42.725	M	3166	Disposed	2013-02-13	Common Stock (3166)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1788	Indirect