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Ryder 2005 Earnings Expected to Increase 11 to 15 percent Over 2004 Level

December 28, 2004

MIAMI — Ryder System, Inc., a provider of transportation management and supply chain solutions, announced on December 20 it forecasts full-year 2005 earnings to be in the range of $3.20 to $3.30 per diluted share. "We are forecasting Ryder's 2005 revenue to grow by 4 percent," said Ryder Chairman, President and Chief Executive Officer Greg Swienton. "Our team is committed to executing its sales plan, assuming only moderate economic growth conditions. This includes attracting, retaining and expanding customers across all product lines. Transactional business, such as commercial rental and used-vehicle sales, should remain strong and we expect to drive additional growth from long-term contractual business, including full service lease, dedicated contract carriage, and our full range of supply chain solutions."
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