RYDER SYSTEM INC — Prospectus 2004

Mar 10, 2004

424B3 1 g87718e424b3.htm RYDER SYSTEM, INC.FORM 424(B)(3) 333-108391 RYDER SYSTEM, INC.FORM 424(B)(3) 333-108391 PAGEBREAK

Pricing Supplement No. 1 Dated 03/09/04 Rule 424(b)(3)

(To Prospectus dated October 2, 2003 and Prospectus Supplement dated October 3, 2003) File No. 333-108391 CUSIP No. 78355H JE0

$800,000,000.00

RYDER SYSTEM, INC.

Medium-Term Notes (Registered Notes-Fixed Rate) Due Nine Months or More from Date of Issue

Principal Amount:	$
Issue Price:	$110,000,000 @ 100.000% $25,000,000 @ 100.054%
Issue Date:	03/15/04
Maturity Date:	03/15/09
Interest Rate:	3.500%
Day Count:	30/360
Interest Payment Dates:	Semi-annually on April 1 and October 1 of each year, commencing April 1, 2004 and at Maturity.
Record Dates:	March 17 and September 16.
Form:	x Book Entry o Certificated
Redemption:	x The Notes cannot be redeemed prior to maturity.
	o The Notes may be redeemed prior to maturity.
Terms of Redemption:
Repayment at option of holder:	x The holder has no option to elect repayment of the Notes
prior to maturity.
	o The Notes are repayable prior to maturity at the option of
holder.
Terms of Repayment:
Discount note:	o Yes x No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period OID:
Name of Agent and Agent’s Discount or Commission:
Wachovia Securities, Inc.	$125,000.00
Citigroup Global Markets, Inc.	$275,000.00
J.P. Morgan Securities Inc.	$275,000.00