Corliss J. Nelson Elected to Ryder System, Inc. Board of Directors.

Business Editors

MIAMI--(BUSINESS WIRE)--July 31, 2000

Corliss J. (Corky) Nelson was elected to the Ryder System, Inc. (NYSE:R) Board of Directors, it was announced today by M. Anthony Burns, Ryder's Chairman and Chief Executive Officer. Nelson serves as Senior Executive Vice President - Finance and Chief Financial Officer and a member of the Management Committee of Ryder, a leader in logistics and transportation management solutions worldwide.

"Since joining Ryder last May, Corky Nelson has done an exceptional job as CFO, helping lead our restructuring and reorganization, strengthening our relationships with the investment and financial communities and establishing Ryder Capital Services, a captive finance subsidiary," said Burns. "Corky's extensive finance and managerial capabilities and strategic vision will be valuable in his new role as a member of the Board of Directors."

"Ryder has had strong financial management and an outstanding financial staff for many years," Nelson said. "I've been proud to lead the team in continuing well-regarded financial practices and to begin new initiatives as well. I deeply appreciate the opportunity to work with the outstanding members of the Ryder board to continue moving this Company forward."

Prior to joining Ryder, Nelson served in a variety of senior financial and management positions for over 20 years with Koch Industries, a privately held company with annual revenue of more than $30 billion based in Wichita, Kansas. From 1992 until joining Ryder, Nelson was president of Koch Capital Services, Inc. and, for a period of time, was also president of Koch Industries International. Before moving to Koch Capital Services, he spent nine years as vice president and treasurer of Koch Industries. Earlier, he was president of a Koch real estate subsidiary and assistant corporate controller. Before his tenure at Koch, Nelson held finance and management positions with Rockwell International Corporation and Cessna Aircraft Company.

Nelson, a native of Santa Barbara, Calif., is a graduate of the California State Polytechnical University - San Luis Obispo's School of Business. He and his wife, Mary Kay, have three grown children.

In addition to serving on the Ryder Board of Directors, Nelson is on the Board of Directors of the United Way of Miami/Dade County and is President of the Doral-Ryder Foundation, whose primary beneficiary is the American Cancer Society.

Nelson joins Burns and Gregory T. Swienton, Ryder's President and Chief Operating Officer as inside members of the Ryder board. Outside directors include: Joseph L. Dionne, retired Chairman and Chief Executive Officer of The McGraw-Hill Companies; Edward T. Foote II, President of the University of Miami; David I. Fuente, Chairman of Office Depot, Inc.; John A. Georges, retired Chairman and Chief Executive Officer of International Paper Company; Vernon E. Jordan, Jr., Senior Managing Director of Lazard Freres and of Counsel to Akin, Gump, Strauss, Hauer & Feld; David T. Kearns, Chairman Emeritus of New American Schools and retired Chairman and Chief Executive Officer of Xerox Corporation; Lynn M. Martin, former U.S. Secretary of Labor, Chairperson of Deloitte & Touche LLP's Council for the Advancement of Women, advisor to Deloitte & Touche and professor at the J.L. Kellogg Graduate School of Management at Northwestern University; Christine A. Varney, partner at Hogan & Hartson LLP and former Commissioner of the U.S. Federal Trade Commission; and Alva O. Way, Chairman of IBJ Whitehall Bank & Trust Company.

Ryder (www.ryder.com) provides a continuum of 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, lead logistics management services and e-Commerce solutions that support clients' entire supply chains, from sourcing of inbound raw materials through distribution and delivery of finished goods. Ryder serves client needs throughout North America, in Latin America, Europe and Asia.

Fortune magazine ranked Ryder as the most admired company in the highway transportation industry in 1997 and 1998 and second in 1999. In 2000, Ryder received a higher overall rating than its competitors in the Fortune survey. For the second consecutive year, Inbound Logistics magazine recognized Ryder in 1999 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. In 2000, Ryder ranked 309th on the Fortune 500 list and 332nd on the Forbes 500.

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