Ryder Declares Quarterly Cash Dividend; Company Pays Dividend for 104th Consecutive Quarter

    MIAMI--July 25, 2002--The Board of Directors of Ryder System, Inc. , a global leader in supply chain and transportation management solutions, today declared a regular quarterly cash dividend of $0.15 per share of common stock. The dividend will be paid on September 20, 2002 to shareholders of record on August 23, 2002. This is Ryder's 104th consecutive quarterly cash dividend - marking 26 years of dividend payments.

    About Ryder

    Ryder provides leading-edge logistics, supply chain and transportation 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.
    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. 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.
    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 341st on the Fortune 500 and 326th on Barron's 500.
    For more information on Ryder System, Inc., visit http://www.ryder.com.