Ryder System, Inc. (NYSE:R), a global leader in transportation and supply chain management solutions, has completed its previously announced acquisition of substantially all the assets of the full service leasing and rental business of Carmenita Leasing, Inc., located in Santa Fe Springs, California. The acquisition is expected to be accretive to earnings in 2011 and will operate as part of Ryder's Fleet Management Solutions business unit.

In the transaction, Ryder acquired Carmenita's fleet of approximately 189 full service lease and rental units, serving 58 contract customers. Ryder has assumed and will transition its operations to the Carmenita Santa Fe Springs facility on or around January 20, to ensure ongoing service to customers, while Ryder's existing Santa Fe Springs location closes as a result of a freeway expansion project.

?We are fortunate to be in a solid financial position to acquire a quality company like Carmenita,? said Ryder Chairman and Chief Executive Officer Greg Swienton. ?We look forward to welcoming Carmenita's customers to Ryder and enhancing our ability to service our existing customers and new customers in this important market.?

About Ryder

Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company. Ryder's stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Inbound Logistics magazine has recognized Ryder as the top third party logistics provider and Security magazine has named Ryder one of the top companies for security practices in the transportation, logistics, supply chain, and warehousing sector. Ryder is a proud member of the American Red Cross Annual Disaster Giving Program, supporting national and local disaster preparedness and response efforts. For more information on Ryder System, Inc., visit www.ryder.com.

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Ryder System, Inc.
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