Ryder System, Inc. a global leader in transportation and supply chain management solutions, announced a new share repurchase program under which the Company plans to repurchase up to $200 million of outstanding Ryder common stock over a period not to exceed two years. Based on Ryder's current stock price, $200 million represents approximately 6% of the Company's total shares outstanding.

"Our financial strength enables us to take this step toward our established leverage targets without curtailing our ability to invest capital for organic growth and opportunistic acquisitions," said Ryder Chairman and Chief Executive Officer Greg Swienton. "This program will also serve to offset the dilutive effect of stock option exercises, though it is not limited to that."

Share repurchases will be made periodically in open-market transactions, and are subject to market conditions, legal requirements and other factors. Additionally, Ryder management has been granted authority to establish a trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 as part of the repurchase program. This will allow the Company to repurchase shares in the open market during periods in which the stock trading window is otherwise closed for the Company. As of April 30, 2007, the Company had approximately 61 million shares of common stock outstanding. The Company has completed all previously disclosed share repurchase programs.