RYDER SYSTEM INC — Director's Dealing 2008

Feb 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2008-02-14

Reporting Person: GARCIA ART A (SVP and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-14	Common Stock	M	11000	$44.885	Acquired	24730	Direct
2008-02-14	Common Stock	M	3433	$42.725	Acquired	28163	Direct
2008-02-14	Common Stock	S	14433	$60.00	Disposed	13730	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-14	Stock Option (right to buy)	$44.885	M	11000	Disposed	2012-02-10	Common Stock (11000)	Direct
2008-02-14	Stock Option (right to buy)	$42.725	M	3433	Disposed	2013-02-13	Common Stock (3433)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1883	Indirect
Common Stock	275	Indirect

Footnotes

F1: 3,667 stock options vested on February 10, 2006, 3,666 stock options vested on February 10, 2007 and 3,667 stock options vested on February 10, 2008.

F2: 1,717 stock options vested on February 13, 2007 and 1,716 stock options vested on February 13, 2008.