<PAGE> 1
As filed with the Securities and Exchange Commission on March 8, 1995
Registration No.
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
-------------------
RYDER SYSTEM, INC.
(Exact name of registrant as specified in its charter)
Florida 59-0739250
(State of incorporation) (I.R.S. Employer Identification No.)
3600 N.W. 82nd Ave., Miami, Florida 33166
(Address of principal executive offices)
-------------------
RYDER SYSTEM, INC. EMPLOYEE SAVINGS PLAN A
(Full title of the plan)
JAMES M. HERRON, Esq.
Ryder System, Inc.
3600 N.W. 82nd Avenue, Miami, Florida 33166
(305) 593-3283
(Name, address and telephone number of agent for service)
Approximate date of commencement of sale under the Plan:
From time to time after the effective date of this Registration Statement.
CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
==================================================================================================================================
Proposed Proposed
maximum maximum
Amount offering aggregate Amount of
Title of securities to be price offering registration
to be registered registered per share price fee
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Ryder System, Inc.
Common Stock
($.50 par value) 700,000 shares (1) $23.00 (2) $16,100,000 (2) $5,551.71
Preferred Share
Purchase Rights 700,000 rights (3) - - - (4)
==================================================================================================================================
</TABLE>
(1) Represents the estimated maximum aggregate employee contributions to the
Plan for two years.
(2) Computed pursuant to Rule 457(c) solely for the purpose of calculating the
registration fee and not as a representation as to any actual proposed price.
This amount is based on the average of the high and low prices of such Common
Stock on March 3, 1995 on the consolidated reporting system.
(3) The preferred share purchase rights (the "Rights") of Ryder System, Inc.
(the "Company") are attached to and trade with the Common Stock of the Company.
Any value attributable to the Rights is reflected in the market price of the
Common Stock. Such additional securities are also being registered hereby as
may become issuable under the Plan as a result of applicable anti-dilution
provisions.
(4) Since no separate consideration is paid for the Rights, the registration
fee for such securities is included in the registration fee for the Company's
Common Stock.
<PAGE> 2
PART II
-------
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
--------------------------------------------------
Item 3. Incorporation of Documents by Reference
The following documents filed by the Company with the Securities and
Exchange Commission (the "Commission") are incorporated in this Registration
Statement by reference:
(a) The Company's Annual Report on Form 10-K for the year ended
December 31, 1993.
(b) All other reports filed by the Company or the Ryder System,
Inc. Employee Savings Plan A, as amended (the "Plan") pursuant to Section 13(a)
or 15(d) of the Securities Exchange Act of 1934, as amended, since the end of
the fiscal year covered by the annual report referred to in (a) above.
(c) The description of the Company's common stock, par value $.50,
and the Company's preferred share purchase rights contained in its Registration
Statement on Form S-3, No. 33-33600 filed on February 27, 1990, as amended,
with the Commission.
All documents subsequently filed by the Company or the Plan pursuant
to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as
amended, prior to the filing of a post-effective amendment which indicates that
all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part of this Registration Statement from the
date of the filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part
of this Registration Statement. Item 4. Description of Securities
Item 4. Description of Securities
Not applicable.
Item 5. Interests of Named Experts and Counsel
The legality of the shares of common stock and the preferred share
purchase rights in connection therewith which may be purchased under the Plan
has been passed upon for the Company by James M. Herron, Senior Executive Vice
President and General Counsel of the Company. Mr. Herron owns beneficially
11,246 shares of common stock of the Company and directly owns options to
purchase 190,667 shares of common stock.
-2-
<PAGE> 3
Item 6. Indemnification of Directors and Officers.
Official Florida Statutes, as amended, Chapter 607, Section 607.0850
authorizes the indemnification of officers, directors, employees and agents
under certain circumstances.
Article IV of the Company's Restated Articles of Incorporation
provides that the Company has the power to indemnify its directors, officers,
and other employees to the fullest extent permitted by law. Article XII of the
Company's By-Laws further provides that the Company shall indemnify to the
fullest extent permitted by current or future legislation or current or future
judicial or administrative decisions (to the extent such future legislation or
decisions permit the Company to provide broader indemnification rights than
permitted prior to such legislation or decisions), each person who is a party
or witness to any proceeding (whether civil, criminal, administrative or
investigative) against any liability (including any judgment, settlement,
penalty or fine) or cost, charge or expense (including reasonable expenses
incurred in defending such actions) by reason of the fact that such indemnified
person is or was a director, officer or employee of the Company, or is or was
an agent as to whom the Company has agreed to grant such indemnification, or is
or was serving at the request of the Company as a director, officer or employee
of another corporation, trust or enterprise.
Since November 6, 1964, there has been in effect a directors and
officers liability insurance policy which, commencing November 6, 1986, has
been with the Federal Insurance Company. The coverage extends to wrongful acts
such as breach of duty and negligence, but does not extend to acts proven to be
dishonest. Currently, the coverage is subject to a deductible amount of
$750,000 with a policy limit of $25,000,000. The Company pays the premiums for
this policy.
Item 7. Exemption from Registration Claimed
Not applicable.
Item 8. Exhibits.
See Exhibit Index.
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales
are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by section
10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or
events arising after the effective date of the registration statement (or the
most recent post-effective amendment thereof) which, individually or in the
aggregate, represents a fundamental change in the information set forth in the
registration statement;
-3-
<PAGE> 4
(iii) To include any material information with
respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in the
registration statement;
PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the registration statement is on Form S-3 or Form S-8 and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability
under the Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a
post-effective amendment any of the securities being registered which remain
unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a) or Section
15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
filing of an employee benefit plan's annual report pursuant to Section 15(d) of
the Securities Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
-4-
<PAGE> 5
SIGNATURES
----------
The Registrant. Pursuant to the requirements of the Securities Act of
1933, the registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Miami, State of Florida, on the 8th
day of March, 1995.
RYDER SYSTEM, INC.
(Registrant)
By: M. ANTHONY BURNS
---------------------
M. Anthony Burns
Chairman of the Board,
President and
Chief Executive Officer
--------------------
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.
<TABLE>
<CAPTION>
Name Title Date
---- ----- ----
<S> <C> <C>
/s/ M. ANTHONY BURNS Chairman of the Board,
- --------------------------------------- President and
M. Anthony Burns Chief Executive Officer
(Principal Executive Officer) March 8, 1995
/s/ EDWIN A. HUSTON Senior Executive Vice
- --------------------------------------- President - Finance and
Edwin A. Huston Chief Financial Officer
(Principal Financial Officer) March 8, 1995
/s/ ANTHONY G. TEGNELIA Senior Vice President and
- --------------------------------------- Controller (Principal
Anthony G. Tegnelia Accounting Officer) March 8, 1995
</TABLE>
-5-
<PAGE> 6
<TABLE>
<S> <C> <C>
Director March 8, 1995
- ---------------------------------------
Arthur H. Bernstein
/s/ EDWARD T. FOOTE II Director March 8, 1995
- ---------------------------------------
Edward T. Foote II*
/s/ JOHN A. GEORGES Director March 8, 1995
- ---------------------------------------
John A. Georges*
/s/ VERNON E. JORDAN, JR. Director March 8, 1995
- ---------------------------------------
Vernon E. Jordan, Jr.*
/s/ HOWARD C. KAUFFMANN Director March 8, 1995
- ---------------------------------------
Howard C. Kauffmann*
Director March 8, 1995
- ---------------------------------------
David T. Kearns
/s/ LYNN M. MARTIN Director March 8, 1995
- ---------------------------------------
Lynn M. Martin*
/s/ JAMES W. MCLAMORE Director March 8, 1995
- ---------------------------------------
James W. McLamore*
Director March 8, 1995
- ---------------------------------------
Paul J. Rizzo
/s/ DONALD V. SEIBERT Director March 8, 1995
- ---------------------------------------
Donald V. Seibert*
/s/ HICKS B. WALDRON Director March 8, 1995
- ---------------------------------------
Hicks B. Waldron*
</TABLE>
-6-
<PAGE> 7
<TABLE>
<S> <C> <C>
/s/ ALVA O. WAY Director March 8, 1995
- ---------------------------------------
Alva O. Way*
/s/ MARK H. WILLES Director March 8, 1995
- ---------------------------------------
Mark H. Willes*
/s/ YASMINE B. ZYNE
- ---------------------------------------
*By: Yasmine B. Zyne
Attorney-in-Fact
</TABLE>
-7-
<PAGE> 8
EXHIBIT INDEX
-------------
<TABLE>
<CAPTION>
Exhibit Registration
Table Statement
Number Exhibit Page
- ------ ------- ----
<S> <C> <C>
(4) Instruments defining the rights of security
holders, including indentures:
(a) By-Laws of the Company, as amended through
November 23, 1993, previously filed with the
Commission as an exhibit to the Company's
Annual Report on Form 10-K for the year
ended December 31, 1993, are incorporated
by reference herein. *
(b) Restated Articles of Incorporation of the
Company, dated November 8, 1985, as amended
through May 18, 1990, previously filed with the
Commission as an exhibit to the Company's Annual
Report on Form 10-K for the year ended
December 31, 1990, are incorporated by reference
herein. *
(c) Rights Agreement between the Company and First
Chicago Trust Company of New York (then named
Morgan Guaranty Trust Company of New York) dated
as of February 28, 1986, previously filed with the
Commission as an exhibit to the Company's Registration
Statement on Form 8-A dated March 7, 1986, is
incorporated by reference herein. *
</TABLE>
____________________
* Incorporated by reference as indicated herein.
-8-
<PAGE> 9
EXHIBIT INDEX
-------------
(continued)
<TABLE>
<CAPTION>
Exhibit Registration
Table Statement
Number Exhibit Page
- ------ ------- ----
<S> <C> <C>
(d) The Amendment to Rights Agreement between the
Company and First Chicago Trust Company of New York
dated as of July 28, 1989, previously filed with the
Commission as an exhibit to the Company's Amendment
to Application or Report on Form 8-K dated August 2, 1989
is incorporated herein by reference. *
(5) Opinions re legality:
(a) Opinion of James M. Herron, Esq., Senior
Executive Vice President and General Counsel
of the Company. 11
(15) Letter re unaudited interim financial information:
(a) Letter from KPMG Peat Marwick LLP concerning
unaudited interim financial information. 13
(23) Consents of experts and counsel:
(a) Consent of KPMG Peat Marwick LLP,
Independent Certified Public Accountants. 14
(b) Consent of Counsel for the Company is
included in Exhibit (5)(a).
</TABLE>
____________________
* Incorporated by reference as indicated herein.
-9-
<PAGE> 10
EXHIBIT INDEX
-------------
(continued)
<TABLE>
<CAPTION>
Exhibit Registration
Table Statement
Number Exhibit Page
- ------ ------- ----
<S> <C> <C>
(24) Powers of Attorney:
(a) Edward T. Foote II 15
(b) John A. Georges 16
(c) Vernon E. Jordan, Jr. 17
(d) Howard C. Kauffmann 18
(e) Lynn M. Martin 19
(f) James W. McLamore 20
(g) Donald V. Seibert 21
(h) Hicks B. Waldron 22
(i) Alva O. Way 23
(j) Mark H. Willes 24
(28) Information from reports furnished to state
insurance regulatory authorities:
None
(99) Additional exhibits:
None
</TABLE>
-10-
<PAGE> 1
Exhibit 5
March 7, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: OPINION OF COUNSEL FOR REGISTRATION STATEMENT ON FORM S-8 OF
RYDER SYSTEM, INC.
Gentlemen:
I have acted as counsel for Ryder System, Inc. (the "Company") in connection
with its registration on Form S-8 of participation interests (the "Interests")
in the Ryder System, Inc. Employee Savings Plan B (the "Plan"), the shares of
the Company's common stock, $.50 par value, (the "Common Stock") and the
preferred share purchase rights issued to holders of such shares pursuant to a
resolution adopted by the Company's Board of Directors on February 28, 1986
(the "Rights"), all of which are issuable in connection with the Plan. In the
course thereof, I have examined such records of the Company, certificates of
officers of the Company, and other documents as I have deemed relevant and
necessary as a basis for the opinions set forth below.
In giving the opinions expressed below, I do not purport to be an expert in the
laws of any jurisdiction other than the State of Florida and the United States.
Based upon the foregoing, and relying upon statements of fact contained in the
documents referred to, I am of the opinion that:
1. All necessary corporate action with respect to the authorization of
the Interests, shares of Common Stock and the Rights under the Plan has been
taken by the Company.
2. The Common Stock and the Rights issued in connection therewith, will
be validly issued, fully paid, and non-assessable when the Registration
Statement and any amendments thereto shall have become effective and when the
Common Stock and Rights have been issued and sold in accordance with the terms
of the Plan. The Interests will be validly offered when the Registration
Statement and any amendments thereto shall have become effective.
<PAGE> 2
Securities and Exchange Commission
March 7, 1995
Page 2
3. I have reviewed the Plan and the related trust agreement. The Plan is
virtually identical to the Ryder System, Inc. Employee Savings Plan A ("Plan
A"). In February, 1985, the Company received a determination letter from the
Internal Revenue Service to the effect that Plan A, as then amended, was
qualified under Section 401 of the Internal Revenue Code (the "Code"), as
amended by the Employee Retirement Income Security Act of 1974 ("ERISA"). The
Plan has been subsequently amended. It is my opinion that the provisions of
the Plan, as amended, on the date hereof, are in substantial compliance with
the requirements of Section 401 of the Code, as amended by ERISA, pertaining to
such provisions. The Company, however, intends to submit the Plan, as
currently amended, to the Internal Revenue Service for a new determination
letter no later than March 31, 1995, and will make all changes required by the
Internal Revenue Service to qualify the Plan under Section 401 of the Code as
amended by ERISA.
I hereby consent to the filing of a copy of this Opinion as an exhibit to the
Registration Statement on Form S-8 and to the use of my name therein.
Yours sincerely,
James M. Herron
<PAGE> 1
EXHIBIT 15(a)
The Board of Directors
Ryder System, Inc.:
Ladies and Gentlemen:
Re: Form S-8 Registration Statement for the Ryder System, Inc.
Employee Savings Plan A
With respect to the subject registration statement, we acknowledge our
awareness of the use therein of our reports dated April 19, 1994, July 21,
1994, and October 19, 1994 related to our reviews of interim financial
information.
Pursuant to Rule 436(c) under the Securities Act of 1933, such reports are not
considered a part of a registration statement prepared or certified by an
accountant or a report prepared or certified by an accountant within the
meaning of Sections 7 and 11 of the Act.
Very truly yours,
KPMG Peat Marwick LLP
Miami, Florida
March 8, 1995
<PAGE> 1
EXHIBIT 23(a)
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ryder System, Inc.:
We consent to the use of our audit reports dated February 7, 1994, which
reports are incorporated by reference or appear in the Annual Report on Form
10-K of Ryder System, Inc. for the year ended December 31, 1993, which Form
10-K is incorporated into this Registration Statement on Form S-8, for the
Ryder System, Inc. Employee Savings Plan A, by reference. Our audit reports
refer to a change in the method of accounting for income taxes and for
postretirement benefits other than pensions in 1993.
KPMG Peat Marwick LLP
Miami, Florida
March 8, 1995
<PAGE> 1
Exhibit 24
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Edward T. Foote II
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Edward T. Foote II, to me known and known to me
to be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
John A. Georges
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared John A. Georges, to me known and known to me to
be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Vernon E. Jordan, Jr.
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Vernon E. Jordan, Jr., to me known and known to
me to be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Howard C. Kauffmann
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Howard C. Kauffmann, to me known and known to me
to be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Lynn M. Martin
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Lynn M. Martin, to me known and known to me to be
the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
James W. McLamore
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared James W. McLamore, to me known and known to me to
be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Donald V. Seibert
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Donald V. Seibert, to me known and known to me to
be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Hicks B. Waldron
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Hicks B. Waldron, to me known and known to me to
be the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Alva O. Way
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Alva O. Way, to me known and known to me to be
the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)
<PAGE> 1
POWER OF ATTORNEY
-----------------
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below
constitutes and appoints James M. Herron, Edward R. Henderson and Yasmine B.
Zyne, and each of them, his true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign the Ryder System, Inc. Form S-8
Registration Statement and/or the Post-Effective Amendments to the Form S-8
Registration Statements for the Ryder System, Inc. Employee Savings Plan A and
the Ryder System, Inc. Employee Savings Plan B and any and all amendments
thereto and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, and with the
New York Stock Exchange, Chicago Stock Exchange, and Pacific Stock Exchange,
granting unto each said attorney-in-fact and agent full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as they might
or could do in person, hereby ratifying and confirming all that each said
attorney- in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue thereof.
____________________________
Mark H. Willes
STATE OF FLORIDA )
) ss:
COUNTY OF DADE )
Before me personally appeared Mark H. Willes, to me known and known to me to be
the person described in and who executed the foregoing instrument, and
acknowledged to and before me that he executed said instrument for the purposes
therein expressed.
WITNESS my hand and official seal this 22nd day of October, 1993.
____________________________
Notary Public
My Commission Expires:
(Seal)