OMB APPROVAL	
OMB Number: 3235-0104	
Expires: January 31, 2005	
Estimated average burden
hours per response...0.5	

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940

	
1.	Name and Address of Reporting
Person* (Last, First, Middle)	2.	Date of Event Requiring Statement
(Month/Day/Year)	3.	I.R.S. Identification Number of Reporting
Person, if an entity (voluntary)	
 	GREENE, GREGORY F.
	 	4/3/2003
	 		
 	3600 N.W. 82ND AVENUE

(Street)	4.	Issuer Name and Ticker or Trading Symbol	5.	Relationship of Reporting Person(s) to Issuer
(Check All Applicable)	
 		 	RYDER SYSTEM, INC. (R)
	 	o  Director
o  10% Owner	x  Officer (give title below)
o  Other (specify below)	
 	MIAMI, FL 33166

(City)          (State)          (Zip)	6.	If Amendment, Date of Original
(Month/Day/Year)	 	SVP Strategic Planning & Development
	
 		 		7.	Individual or Joint/Group Filing
(Check Applicable Line)	
 	 	 	 	 	 	 	 	x  Form filed by One Reporting Person
o  Form filed by More than One Reporting Person	
	
*	 	If the form is filed by more than one reporting person, see Instruction 5(b)(v).	
 	
Reminder:	 	Report on a separate line for each class of securities beneficially owned directly or indirectly.	

 

	
Table I — Non-Derivative Securities Beneficially Owned	
	
1.	Title of Security
(Instr. 4)	2.	Amount of Securities Beneficially Owned
(Instr. 4)	3.	Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)	4.	Nature of Indirect Beneficial Ownership
(Instr. 5)	
	
 	Common Stock	 	 	10,500	 	 	D	 		
	
 	Common Stock	 	 	533	 	 	I	 	By Ryder Employee Savings Plan B	
	
 	Common Stock	 	 	493	 	 	I	 	By Ryder Deferred Compensation Plan	

	

 		 	 		 	 		 		

	
Page 2 

 

 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	
Table II — Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)	
	
1.	Title of
Derivative
Security
(Instr. 4)	2.	Date Exercisable and
Expiration Date
(Month/Day/Year)	3.	Title and Amount of Securities
Underlying Derivative Security
(Instr. 4)	4.	Conversion or
Exercise Price
of Derivative
Security	5.	Ownership Form of
Derivative Security:
Direct (D) or Indirect (I)
(Instr. 5)	6.	Nature of Indirect Beneficial Ownership
(Instr. 5)	
	
 	 	 	Date
Exer-
cisable	Expi-
ration
Date	 	
Title	Amount
or
Number
of Shares	 	 	 	 	 	 	
	
 	Stock Option (right to buy)	 	Current	10/1/06	 	Common Stock	1,100		$29.6875	 	D	 		
	
 	Stock Option (right to buy)	 	Current	2/17/10	 	Common Stock	2,667		$19.3125	 	D	 		
	
 	Stock Option (right to buy)	 	5/4/03	5/3/10	 	Common Stock	3,333		$20.8750	 	D	 		
	
 	Stock Option (right to buy)	 	10/3/03	10/2/10	 	Common Stock	8,480		$16.7188	 	D	 		
	
 	Stock Option (right to buy)	 	(1)	2/14/09	 	Common Stock	15,000		$26.8300	 	D	 		
	
 	Stock Option (right to buy)	 	(2)	2/13/10	 	Common Stock	12,000		$22.1000	 	D	 		

	

Explanation of Responses:
(1) 5,000 stock options vested on February 15, 2003, 5,000 stock options will vest on February 15, 2004 and 5,000 stock options will vest on February 15, 2005.
(2) Vests in three equal annual installments beginning on February 13, 2004.
(3) Pursuant to a Power of Attorney filed with this Form 3.

/s/ Richard H. Siegel (3)	 	April 10, 2003	

**Signature of Reporting Person	 	
Date	

 	
**	 	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
 	
Note:	 	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
 	
Page 3 

 

LIMITED POWER OF ATTORNEY
     Know all by these presents, that the undersigned hereby constitutes and appoints each of Richard H. Siegel, David M. Beilin and Vicki A. O’Meara signing singly, as the undersigned’s true and lawful attorney-in-fact to:

(1)	 	execute for and on behalf of the undersigned, in the undersigned’s capacity as an officer and/or director of Ryder System, Inc. (the “Company”), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;	
 	 	 	
(2)	 	do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and	
 	 	 	
(3)	 	take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.	
     The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned’s responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.
     This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.
      IN WITNESS WHEREOF , the undersigned has caused this Power of Attorney to be executed as of this 7th day of April, 2003.

 	 	 	 	 	 	/s/ GREGORY F. GREENE	
 	 	 	 	 	 		
 	 	 	 	 	 	Gregory F. Greene	
 	 	 	 	 	 	 	
STATE OF FLORIDA	 	)
)	 	 
ss:	 	 	
COUNTY OF DADE	 	)	 	 	 	 	
     The foregoing instrument was acknowledged before me this 7th day of April, 2003, by Gregory F. Greene, who is personally known to me.

 	 	/s/ DELORES CLARK	
 	 		
 	 	Notary Public	
 	 	 	
 	 	My Commission Expires: 4/24/05