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RYDER WILL TAKE FOURTH QUARTER CHARGE FOR DISCONTINUED AIRCRAFT LEASING BUSINESS

 RYDER WILL TAKE FOURTH QUARTER CHARGE
 FOR DISCONTINUED AIRCRAFT LEASING BUSINESS
 MIAMI, Jan. 15 /PRNewswire/ -- Ryder System, Inc. (NYSE: R) in connection with its already discontinued aircraft leasing business, will take an after tax charge of $52 million in the fourth quarter of 1991, it was announced here today by Ryder's Senior Executive Vice President-Finance and Chief Financial Officer Edwin A. Huston. Huston said that the charge will have no effect on the 1991 earnings from continuing operations which the company will report in the early part of February. The charge will translate into a loss from discontinued operations of $0.70 per share.
 Ryder discontinued its aircraft leasing business as of December 1990. Since then, values of used commercial aircraft have dropped precipitously, especially in the wake of the fourth quarter shutdown of both Pan American and Midway and continuing economic stress in the airline industry. Based on the current market, the fourth quarter 1991 charge will effectively reduce the carrying value of Ryder's 31 aircraft to salvage value.
 Commenting on the decision to take the charge, Huston said, "It has been a year since we discontinued our aircraft leasing business. Recently, the value of its assets has further decreased significantly. Our primary interest now is to convert those assets to cash as quickly as possible and to use that cash in our continuing operations, most of which are performing well."
 -0- 1/15/92
 /NOTE TO EDITOR: Ryder System, Inc. is the parent of a group of companies which provide high-quality highway transportation services and aviation services. Revenue for the 12 months ended Sept. 30, 1991 was $5.1 billion, and assets totaled $5.2 billion at Sept. 30, 1991.
 Ryder System stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Fortune magazine ranks the company among the 25 largest diversified services companies in the United States./
 /CONTACT: Art Stone of Ryder System, Inc. 305-593-3180/
 (R) CO: Ryder System, Inc. ST: Florida IN: TRN SU: stranger


SS-AW -- FL005 -- 0097 01/15/92 15:07 EST
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Publication:PR Newswire
Date:Jan 15, 1992
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