Former Exxon Mobil Executive, Eugene A. Renna, Elected to Ryder System, Inc. Board of Directors

    MIAMI--July 8, 2002--Ryder System, Inc. , a global leader in transportation and supply chain management solutions, announced that Eugene A. (Gene) Renna, former Executive Vice President, member of the Management Committee and member of the Board of Directors of Exxon Mobil Corporation, has been elected to serve as a member of its Board of Directors. Renna is also the former President of Mobil Corporation.
    "We welcome Gene to the Board as Ryder sharpens its focus on continuous improvement and strives to strengthen its value-based solutions and products that will drive efficiencies and enhanced service levels to its customers," said Gregory T. Swienton, Ryder's Chairman, President and Chief Executive Officer.
    "I am honored to join this distinguished Board and I look forward to working with Ryder's management to enhance its ability to provide customers, shareholders and employees with sustainable, profitable growth," said Renna.
    Renna's career with Exxon Mobil began when he joined the former Mobil Corporation in 1968. He rose through the ranks at Mobil to the position of President and Chief Operating Officer (COO), and a member of its Board of Directors until the time of the Exxon Mobil merger in 1999. As President and COO, Renna was responsible for overseeing all of the company's Global Exploration and Producing, Marketing and Refining, and Chemicals and Technology business activities.
    Renna's extensive career with Mobil and Exxon Mobil encompasses a range of senior management roles that include: responsibility for all of Mobil's Marketing and Refining operations in the Pacific Rim, Africa and Latin America; Executive Vice President of International Marketing and Refining Division; Vice President of Planning and Economics for the Corporation; President of Mobil's worldwide Marketing and Refining division; and Executive Vice President Mobil Corporation and Director Mobil Corporation.
    Renna holds a bachelor of business administration degree from Rutgers and a master of business administration degree from Cornell University. He is a member of the Board of the American Petroleum Institute, a member of the Board of Fortune Brands, Inc. and a member of the Advisory Council of the Samuel Curtis Johnson Graduate School of Management at Cornell University.

    About Ryder

    Ryder provides leading-edge transportation, logistics and supply chain management solutions worldwide. Ryder's product offerings range from full-service leasing, commercial rental and programmed maintenance of vehicles to integrated services such as dedicated contract carriage and carrier management. Additionally, Ryder offers comprehensive supply chain solutions, consulting, lead logistics management services and e-Business solutions that support customers' entire supply chains, from inbound raw materials and parts through distribution and delivery of finished goods. Ryder serves customer needs throughout North America, in Latin America, Europe and Asia.
    For the sixth consecutive year, Ryder was featured in the 2002 Fortune Most Admired Companies survey of corporate reputations. Forbes named Ryder to its "Magnetic 40" as "Best in Transportation and Logistics" for creating a "network of partnerships that can spur growth, innovation and most important, serve customers better." InternetWeek named Ryder as one of the top 100 U.S. companies for effectiveness in using the Internet to achieve tangible business benefits. For the fourth consecutive year, Inbound Logistics recognized Ryder in 2001 as the top third-party logistics provider. The National Safety Council selected Ryder to receive the 2002 Green Cross for Safety Medal - its highest honor - for exemplary commitment to workplace safety and corporate citizenship.
    Ryder's stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. With 2001 revenue of $5.01 billion, Ryder ranks 341(st) on the Fortune 500 and 326(th) on the Barron's 500.
    For more information on Ryder System, Inc., visit http://www.ryder.com.