X0201 42003-12-190 0000085961 RYDER SYSTEM INC R 0001183540 MUDD DANIEL H 3600 N.W. 82ND AVENUE MIAMI FL 33166 1000Common Stock2003-12-194A04.00000A2052.0000DGrant of restricted stock units pursuant to the dividend reinvestment feature of the Issuer's Board of Directors Stock Award Plan./s/ Richard H. Siegel, by power of attorney2003-12-22