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<TITLE>RYDER SYSTEM, INC.</TITLE>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on August&nbsp;21, 2008
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Registration No.&nbsp;333-</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549<BR>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B><BR>
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<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>RYDER SYSTEM, INC.</B>
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<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>Florida</B>
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>59-03739250</B></TD>
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<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV><BR>
<B>11690 N.W. 105</B><SUP style="font-size: 85%; vertical-align: text-top"><B>th</B></SUP> <B>Street<BR>
Miami, Florida 33178</B><BR>
(Address of Principal Executive Offices)<BR>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RYDER SYSTEM, INC. 2005 EQUITY COMPENSATION PLAN<BR>
(Full Title of the Plan)</B><BR>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Flora R. Perez, Esq.<BR>
Assistant General Counsel<BR>
Ryder System, Inc.<BR>
11690 N.W. 105<SUP style="font-size: 85%; vertical-align: text-top"> th</SUP> Street<BR>
Miami, Florida 33178</B><BR>
(Name and Address of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(305)&nbsp;500-3726</B><BR>
(Telephone Number, Including Area Code, of Agent For Service)
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant is a large accelerated filer, and accelerated filer,
and non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
Exchange Act.</DIV>

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    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">Large&nbsp;accelerated filer <FONT face="Wingdings">&#120;</FONT>


</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT><BR>
(Do&nbsp;not&nbsp;check&nbsp;if&nbsp;a&nbsp;smaller&nbsp;reporting&nbsp;company)
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    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
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    <TD width="1%">&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed maximum</B></TD>
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    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 3px solid #000000">&nbsp;</TD>

    <TD nowrap align="left"><B>Title of securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>offering</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>aggregate offering</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>registration</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 3px solid #000000">&nbsp;</TD>
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    <TD nowrap align="left"><B>to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>price per share</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>price</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>fee</B></TD>
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                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, $.50
par value, reserved
for future grant of
options and other
equity awards under
the Ryder System,
Inc. 2005 Equity
Compensation Plan</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">3,000,000</TD>
    <TD nowrap style="border-top: 2px solid #000000">(1)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">66.885</TD>
    <TD nowrap style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">200,655,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">7,885.74</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
</TR>
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    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule 416(a) of the Securities Act of 1933, as amended, the
number of shares being registered shall include an indeterminate
number of additional shares of common stock which may become issuable
as a result of stock splits, stock dividends, or similar transactions
in accordance with the anti-dilution provisions of the Ryder System,
Inc. 2005 Equity Compensation Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for the purpose of determining the registration fee
pursuant to Rule&nbsp;457(h)(1) of the Securities Act of 1933, as amended.
The price is based upon the average of the high and low sales price
per share of common stock on August&nbsp;19, 2008, as reported on the New
York Stock Exchange.</TD>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>INCORPORATION OF EARLIER REGISTRATION STATEMENT BY REFERENCE</B></U>
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">This registration statement has been prepared and filed pursuant to and in accordance with the
requirements of General Instruction E to Form S-8 for the purpose of registering 3,000,000
additional shares of our common stock issuable under the Ryder System, Inc. 2005 Equity
Compensation Plan (the &#147;Plan&#148;) at any time and from time to time. On May&nbsp;11, 2005, the Company
filed a registration statement on Form S-8 (File No.&nbsp;333-124828) with the Securities and Exchange
Commission in order to register shares of our common stock issuable under the Plan. The contents of
such earlier registration statement are incorporated by reference into this registration statement.</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;3.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Incorporation of Documents by Reference</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed by us with the Securities and Exchange Commission
(the Commission), are incorporated by reference into this Registration Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2007, filed with the
Commission on February&nbsp;12, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Our Quarterly Report on Form 10-Q for the quarterly period ended March&nbsp;31, 2008, filed
with the Commission on April&nbsp;23, 2008 and our Quarterly Report on Form 10-Q for the quarterly
period ended June&nbsp;30, 2008, filed with the Commission on July&nbsp;23, 2008 .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Our Current Reports on Form 8-K filed with the Commission on February&nbsp;1, 2008, February
14, 2008, April&nbsp;23, 2008, May&nbsp;16, 2008, May&nbsp;28, 2008, July&nbsp;14, 2008 and July&nbsp;23, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Description of our common stock contained in our registration statement on Form 8-A
(Registration No.&nbsp;001-04364) filed with the Commission on February&nbsp;27, 1990.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and other documents subsequently filed by us pursuant to Section&nbsp;13(a), 13(c), 14
or 15(d) of the Securities Exchange Act of 1934, as amended (Exchange Act), prior to the filing of
a post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in
this Registration Statement and to be a part hereof from the date of filing of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained herein or in a document all or a portion of which is incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or superseded for
purposes of this Registration Statement to the extent that a statement contained herein or in any
other subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
</DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;4.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Description of Securities</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<DIV align="left" style="margin-top: 12pt">
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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;5.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Interests of Named Experts and Counsel</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters with respect to the offering of the shares of common stock registered
hereby have been passed upon by Flora R. Perez, Esq., Assistant General Counsel of the Company.
Ms.&nbsp;Perez owns, and holds options to purchase, shares of common stock of the Company.
</DIV>

<DIV align="left" style="margin-top: 12pt">
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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;6.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Indemnification of Directors and Officers</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;607.0831 of the Florida Business Corporation Act (the &#147;FBCA&#148;), a director is not
personally liable for monetary damages to the corporation or any other person for any statement,
vote, decision, or failure to act regarding corporate management or policy unless (1)&nbsp;the director
breached or failed to perform his or her duties as a director and (2)&nbsp;the director&#146;s breach of, or
failure to perform, those duties constitutes: (a)&nbsp;a violation of the criminal law, unless the
director had reasonable cause to believe his or her conduct was unlawful, (b)&nbsp;a transaction from
which the director derived an improper personal benefit, either directly or indirectly, (c)&nbsp;a
circumstance under which the liability provisions of Section&nbsp;607.0834 are applicable, (d)&nbsp;in a
proceeding by or in the right of the corporation to procure a judgment in its favor or by or in the
right of a shareholder, conscious disregard for the best interest of the corporation, or willful
misconduct, or (e)&nbsp;in a proceeding by or in the right of someone other than the corporation or a
</DIV>

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<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">shareholder, recklessness or an act or omission which was committed in bad faith or with
malicious purpose or in a manner exhibiting wanton and willful disregard of human rights, safety,
or property. A judgment or other final adjudication against a director in any criminal proceeding
for a violation of the criminal law estops that director from contesting the fact that his or her
breach, or failure to perform, constitutes a violation of the criminal law; but does not estop the
director from establishing that he or she had reasonable cause to believe that his or her conduct
was lawful or had no reasonable cause to believe that his or her conduct was unlawful.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;607.0850 of the FBCA, a corporation has power to indemnify any person who was or
is a party to any proceeding (other than an action by, or in the right of the corporation), by
reason of the fact that he or she is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise against
liability incurred in connection with such proceeding, including any appeal thereof, if he or she
acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the
best interests of the corporation and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his or her conduct was unlawful. The termination of any proceeding by
judgment, order, settlement or conviction or upon a plea of nolo contendere or its equivalent shall
not, of itself, create a presumption that the person did not act in good faith and in a manner
which he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation or, with respect to any criminal action or proceeding, has reasonable cause to believe
that his or her conduct was unlawful.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, under Section&nbsp;607.0850 of the FBCA, a corporation has the power to indemnify any
person, who was or is a party to any proceeding by or in the right of the corporation to procure a
judgment in its favor by reason of the fact that the person is or was a director, officer,
employee, or agent of the corporation or is or was serving at the request of the corporation as a
director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or
other enterprise, against expenses and amounts paid in settlement not exceeding, in the judgment of
the board of directors, the estimated expense of litigating the proceeding to conclusion, actually
and reasonably incurred in connection with the defense or settlement of such proceeding, including
any appeal thereof. Such indemnification shall be authorized if such person acted in good faith and
in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation, except that no indemnification shall be made under this subsection in respect of any
claim, issue, or matter as to which such person shall have been adjudged to be liable unless, and
only to the extent that, the court in which such proceeding was brought, or any other court of
competent jurisdiction, shall determine upon application that, despite the adjudication of
liability but in view of all circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such expenses which such court shall deem proper.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;607.0850 of the FBCA, the indemnification and advancement of expenses provided
pursuant to Section&nbsp;607.0850 of the FBCA are not exclusive, and a corporation may make any other or
further indemnification or advancement of expenses of any of its directors, officers, employees, or
agents, under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise,
both as to action in his or her official capacity and as to action in another capacity while
holding such office. However, indemnification or advancement of expenses shall not be made to or on
behalf of any director, officer, employee or agent if a judgment or other final adjudication
establishes that his or her actions, or omissions to act, were material to the cause of action so
adjudicated and constitute: (a)&nbsp;a violation of the criminal law, unless the director, officer,
employee or agent had reasonable cause to believe his or her conduct was unlawful; (b)&nbsp;a
transaction from which the director, officer, employee or agent derived an improper personal
benefit; (c)&nbsp;in the case of a director, a circumstance under which the above liability provisions
of Section&nbsp;607.0834 are applicable; or (d)&nbsp;willful misconduct or a conscious disregard for the best
interests of the corporation in a proceeding by or in the right of the corporation to procure a
judgment in its favor or in a proceeding by or in the right of a shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of the Company&#146;s Restated Articles of Incorporation provides that the Company has
the power to indemnify its directors, officers, and other employees to the fullest extent permitted
by law. Article&nbsp;XII of the Company&#146;s By-Laws further provides that the Company shall indemnify to
the fullest extent permitted by current or future legislation or current or future judicial or
administrative decisions (to the extent such future legislation or decisions permit the Company to
provide broader indemnification rights than permitted prior to such legislation or decisions), each
person who is a party or witness to any proceeding (whether civil, criminal, administrative or
investigative) against any liability (including any judgment, settlement, penalty or fine) or cost,
charge or expense (including attorneys fees) by reason of the fact that such indemnified person is
or was a director, officer or employee of the Company, or is or was an agent as to whom the Company
has agreed to grant such indemnification, or is or was serving at the request of the Company as a
director, officer or employee of another corporation, partnership, joint venture, trust or other
enterprise, or is or was serving as an agent of such corporation, partnership, joint venture, trust
or other enterprise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains a directors and officers liability insurance policy which, within the
limits and subject to the limitations of the policy, insures the directors and officers of the
Company against certain expenses in connection with the defense of certain claims, actions, suits
or proceedings, and certain liabilities which might be imposed as a result of such claims, actions,
suits or proceedings, which may be brought against them by reason of their being or having been
directors or officers of the Company. The coverage extends to wrongful acts such as breach of duty
and negligence, but does not extend to acts proven to be dishonest. The Company pays the premiums
for this policy.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;7.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Exemption from Registration Claimed</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;8.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Exhibits</U>.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ryder System, Inc. 2005 Equity Compensation Plan,
previously filed with the Commission on March&nbsp;21, 2008, as
Appendix&nbsp;A to Ryder&#146;s Definitive Proxy Statement on
Schedule&nbsp;14A.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc., regarding the legality of the common
stock being registered.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.</DIV></TD>
</TR>










<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of KPMG LLP, Independent Registered Public Accounting Firm.</DIV></TD>
</TR>





<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc. (included in Exhibit&nbsp;5.1).</DIV></TD>
</TR>



<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;9.</TD>
    <TD>&nbsp;</TD>
    <TD><U>Undertakings</U>.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the Prospectus any facts or events arising after the effective date of the
Registration Statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20&nbsp;percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective
registration statement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in
the Registration Statement;
</DIV>

<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><U>provided</U>,<U> however</U>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned hereby undertakes that, for purposes of determining any liability under
the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant to Section 13(a)
or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Miami, the State of Florida, on August&nbsp;21, 2008.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">RYDER SYSTEM, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Gregory T. Swienton
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Gregory T. Swienton, Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following individuals in the capacities and on the date or dates
indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gregory T. Swienton
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Gregory T. Swienton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman and Chief Executive
Officer<BR>
(Principal Executive
Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Robert E. Sanchez
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Robert E. Sanchez</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>
Executive Vice President and
Chief Financial Officer<BR>
(Principal Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Art A. Garcia
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Art A. Garcia</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Senior Vice President and
Controller<BR>
(Principal
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
James S. Beard</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
John M. Berra</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
David I. Fuente</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
L. Patrick Hassey</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Lynn M. Martin</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Luis P. Nieto, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Eugene A. Renna</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Abbie J. Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
E. Follin Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Hansel E. Tookes II</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">*
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Christine A. Varney</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">* /s/ Flora R. Perez
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Flora R. Perez</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Attorney-in-Fact
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 21, 2008</TD>
</TR>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc., regarding the legality of the common
stock being registered.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent
of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of KPMG LLP, Independent Registered Public Accounting Firm.</DIV></TD>
</TR>





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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc. (included in Exhibit&nbsp;5.1).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney.</DIV></TD>
</TR>
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{"company-data": {"conformed-name": "RYDER SYSTEM INC", "cik": "0000085961", "assigned-sic": "7510", "irs-number": "590739250", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-153123", "film-number": "081032640"}, "business-address": {"street1": "11690 N.W. 105TH STREET", "city": "MIAMI", "state": "FL", "zip": "33178", "phone": "3055003726"}, "mail-address": {"street1": "11690 N.W. 105TH STREET", "city": "MIAMI", "state": "FL", "zip": "33178"}}
RYDER SYSTEM, INC.
As filed with the Securities and Exchange Commission on August 21, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
RYDER SYSTEM, INC.
(Exact name of Registrant as specified in its charter)
Florida
59-03739250
(State or other jurisdiction of
incorporation or organization)
(IRS Employer
Identification No.)
11690 N.W. 105
th
Street
Miami, Florida 33178
(Address of Principal Executive Offices)
RYDER SYSTEM, INC. 2005 EQUITY COMPENSATION PLAN
(Full Title of the Plan)
Flora R. Perez, Esq.
Assistant General Counsel
Ryder System, Inc.
11690 N.W. 105
th
Street
Miami, Florida 33178
(Name and Address of Agent for Service)
(305) 500-3726
(Telephone Number, Including Area Code, of Agent For Service)
Indicate by check mark whether the registrant is a large accelerated filer, and accelerated filer,
and non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.
Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Amount of
Title of securities
Amount to be
offering
aggregate offering
registration
to be registered
Registered
price per share
price
fee
Common Stock, $.50
par value, reserved
for future grant of
options and other
equity awards under
the Ryder System,
Inc. 2005 Equity
Compensation Plan
3,000,000
(1)
$
66.885
(2)
$
200,655,000
$
7,885.74
(1)
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended, the
number of shares being registered shall include an indeterminate
number of additional shares of common stock which may become issuable
as a result of stock splits, stock dividends, or similar transactions
in accordance with the anti-dilution provisions of the Ryder System,
Inc. 2005 Equity Compensation Plan.
(2)
Estimated solely for the purpose of determining the registration fee
pursuant to Rule 457(h)(1) of the Securities Act of 1933, as amended.
The price is based upon the average of the high and low sales price
per share of common stock on August 19, 2008, as reported on the New
York Stock Exchange.
INCORPORATION OF EARLIER REGISTRATION STATEMENT BY REFERENCE
This registration statement has been prepared and filed pursuant to and in accordance with the
requirements of General Instruction E to Form S-8 for the purpose of registering 3,000,000
additional shares of our common stock issuable under the Ryder System, Inc. 2005 Equity
Compensation Plan (the "Plan") at any time and from time to time. On May 11, 2005, the Company
filed a registration statement on Form S-8 (File No. 333-124828) with the Securities and Exchange
Commission in order to register shares of our common stock issuable under the Plan. The contents of
such earlier registration statement are incorporated by reference into this registration statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
.
The following documents previously filed by us with the Securities and Exchange Commission
(the Commission), are incorporated by reference into this Registration Statement:
(a) Our Annual Report on Form 10-K for the fiscal year ended December 31, 2007, filed with the
Commission on February 12, 2008.
(b) Our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008, filed
with the Commission on April 23, 2008 and our Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 2008, filed with the Commission on July 23, 2008 .
(c) Our Current Reports on Form 8-K filed with the Commission on February 1, 2008, February
14, 2008, April 23, 2008, May 16, 2008, May 28, 2008, July 14, 2008 and July 23, 2008.
(d) Description of our common stock contained in our registration statement on Form 8-A
(Registration No. 001-04364) filed with the Commission on February 27, 1990.
All reports and other documents subsequently filed by us pursuant to Section 13(a), 13(c), 14
or 15(d) of the Securities Exchange Act of 1934, as amended (Exchange Act), prior to the filing of
a post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in
this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document all or a portion of which is incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or superseded for
purposes of this Registration Statement to the extent that a statement contained herein or in any
other subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities
.
Not Applicable.
Item 5.
Interests of Named Experts and Counsel
.
Certain legal matters with respect to the offering of the shares of common stock registered
hereby have been passed upon by Flora R. Perez, Esq., Assistant General Counsel of the Company.
Ms. Perez owns, and holds options to purchase, shares of common stock of the Company.
Item 6.
Indemnification of Directors and Officers
.
Under Section 607.0831 of the Florida Business Corporation Act (the "FBCA"), a director is not
personally liable for monetary damages to the corporation or any other person for any statement,
vote, decision, or failure to act regarding corporate management or policy unless (1) the director
breached or failed to perform his or her duties as a director and (2) the director's breach of, or
failure to perform, those duties constitutes: (a) a violation of the criminal law, unless the
director had reasonable cause to believe his or her conduct was unlawful, (b) a transaction from
which the director derived an improper personal benefit, either directly or indirectly, (c) a
circumstance under which the liability provisions of Section 607.0834 are applicable, (d) in a
proceeding by or in the right of the corporation to procure a judgment in its favor or by or in the
right of a shareholder, conscious disregard for the best interest of the corporation, or willful
misconduct, or (e) in a proceeding by or in the right of someone other than the corporation or a
2
shareholder, recklessness or an act or omission which was committed in bad faith or with
malicious purpose or in a manner exhibiting wanton and willful disregard of human rights, safety,
or property. A judgment or other final adjudication against a director in any criminal proceeding
for a violation of the criminal law estops that director from contesting the fact that his or her
breach, or failure to perform, constitutes a violation of the criminal law; but does not estop the
director from establishing that he or she had reasonable cause to believe that his or her conduct
was lawful or had no reasonable cause to believe that his or her conduct was unlawful.
Under Section 607.0850 of the FBCA, a corporation has power to indemnify any person who was or
is a party to any proceeding (other than an action by, or in the right of the corporation), by
reason of the fact that he or she is or was a director, officer, employee or agent of the
corporation or is or was serving at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise against
liability incurred in connection with such proceeding, including any appeal thereof, if he or she
acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the
best interests of the corporation and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his or her conduct was unlawful. The termination of any proceeding by
judgment, order, settlement or conviction or upon a plea of nolo contendere or its equivalent shall
not, of itself, create a presumption that the person did not act in good faith and in a manner
which he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation or, with respect to any criminal action or proceeding, has reasonable cause to believe
that his or her conduct was unlawful.
In addition, under Section 607.0850 of the FBCA, a corporation has the power to indemnify any
person, who was or is a party to any proceeding by or in the right of the corporation to procure a
judgment in its favor by reason of the fact that the person is or was a director, officer,
employee, or agent of the corporation or is or was serving at the request of the corporation as a
director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or
other enterprise, against expenses and amounts paid in settlement not exceeding, in the judgment of
the board of directors, the estimated expense of litigating the proceeding to conclusion, actually
and reasonably incurred in connection with the defense or settlement of such proceeding, including
any appeal thereof. Such indemnification shall be authorized if such person acted in good faith and
in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation, except that no indemnification shall be made under this subsection in respect of any
claim, issue, or matter as to which such person shall have been adjudged to be liable unless, and
only to the extent that, the court in which such proceeding was brought, or any other court of
competent jurisdiction, shall determine upon application that, despite the adjudication of
liability but in view of all circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such expenses which such court shall deem proper.
Under Section 607.0850 of the FBCA, the indemnification and advancement of expenses provided
pursuant to Section 607.0850 of the FBCA are not exclusive, and a corporation may make any other or
further indemnification or advancement of expenses of any of its directors, officers, employees, or
agents, under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise,
both as to action in his or her official capacity and as to action in another capacity while
holding such office. However, indemnification or advancement of expenses shall not be made to or on
behalf of any director, officer, employee or agent if a judgment or other final adjudication
establishes that his or her actions, or omissions to act, were material to the cause of action so
adjudicated and constitute: (a) a violation of the criminal law, unless the director, officer,
employee or agent had reasonable cause to believe his or her conduct was unlawful; (b) a
transaction from which the director, officer, employee or agent derived an improper personal
benefit; (c) in the case of a director, a circumstance under which the above liability provisions
of Section 607.0834 are applicable; or (d) willful misconduct or a conscious disregard for the best
interests of the corporation in a proceeding by or in the right of the corporation to procure a
judgment in its favor or in a proceeding by or in the right of a shareholder.
Article VIII of the Company's Restated Articles of Incorporation provides that the Company has
the power to indemnify its directors, officers, and other employees to the fullest extent permitted
by law. Article XII of the Company's By-Laws further provides that the Company shall indemnify to
the fullest extent permitted by current or future legislation or current or future judicial or
administrative decisions (to the extent such future legislation or decisions permit the Company to
provide broader indemnification rights than permitted prior to such legislation or decisions), each
person who is a party or witness to any proceeding (whether civil, criminal, administrative or
investigative) against any liability (including any judgment, settlement, penalty or fine) or cost,
charge or expense (including attorneys fees) by reason of the fact that such indemnified person is
or was a director, officer or employee of the Company, or is or was an agent as to whom the Company
has agreed to grant such indemnification, or is or was serving at the request of the Company as a
director, officer or employee of another corporation, partnership, joint venture, trust or other
enterprise, or is or was serving as an agent of such corporation, partnership, joint venture, trust
or other enterprise.
The Company maintains a directors and officers liability insurance policy which, within the
limits and subject to the limitations of the policy, insures the directors and officers of the
Company against certain expenses in connection with the defense of certain claims, actions, suits
or proceedings, and certain liabilities which might be imposed as a result of such claims, actions,
suits or proceedings, which may be brought against them by reason of their being or having been
directors or officers of the Company. The coverage extends to wrongful acts such as breach of duty
and negligence, but does not extend to acts proven to be dishonest. The Company pays the premiums
for this policy.
3
Item 7.
Exemption from Registration Claimed
.
Not Applicable.
Item 8.
Exhibits
.
Exhibit
Description
4.1
Ryder System, Inc. 2005 Equity Compensation Plan,
previously filed with the Commission on March 21, 2008, as
Appendix A to Ryder's Definitive Proxy Statement on
Schedule 14A.
5.1
Opinion of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc., regarding the legality of the common
stock being registered.
23.1
Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.
23.2
Consent of KPMG LLP, Independent Registered Public Accounting Firm.
23.3
Consent of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc. (included in Exhibit 5.1).
24.1
Power of Attorney.
4
Item 9.
Undertakings
.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the Prospectus any facts or events arising after the effective date of the
Registration Statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in the effective
registration statement;
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in
the Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned hereby undertakes that, for purposes of determining any liability under
the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a)
or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Miami, the State of Florida, on August 21, 2008.
RYDER SYSTEM, INC.
By:
/s/ Gregory T. Swienton
Gregory T. Swienton, Chairman
and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following individuals in the capacities and on the date or dates
indicated.
Signature
Title
Date
/s/ Gregory T. Swienton
Gregory T. Swienton
Chairman and Chief Executive
Officer
(Principal Executive
Officer)
August 21, 2008
/s/ Robert E. Sanchez
Robert E. Sanchez
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
August 21, 2008
/s/ Art A. Garcia
Art A. Garcia
Senior Vice President and
Controller
(Principal
Accounting Officer)
August 21, 2008
*
James S. Beard
Director
August 21, 2008
*
John M. Berra
Director
August 21, 2008
*
David I. Fuente
Director
August 21, 2008
*
L. Patrick Hassey
Director
August 21, 2008
*
Lynn M. Martin
Director
August 21, 2008
*
Luis P. Nieto, Jr.
Director
August 21, 2008
6
Signature
Title
Date
*
Eugene A. Renna
Director
August 21, 2008
*
Abbie J. Smith
Director
August 21, 2008
*
E. Follin Smith
Director
August 21, 2008
*
Hansel E. Tookes II
Director
August 21, 2008
*
Christine A. Varney
Director
August 21, 2008
* /s/ Flora R. Perez
Flora R. Perez
Attorney-in-Fact
August 21, 2008
7
EXHIBIT INDEX
Exhibit
Description
5.1
Opinion of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc., regarding the legality of the common
stock being registered.
23.1
Consent
of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.
23.2
Consent of KPMG LLP, Independent Registered Public Accounting Firm.
23.3
Consent of Flora R. Perez, Assistant General Counsel of
Ryder System, Inc. (included in Exhibit 5.1).
24.1
Power of Attorney.
8