CEVA Leases over 1,000 Vehicles and Strengthens 30-Year Partnership with Ryder

Ryder System, Inc. (NYSE:R), a leader in commercial transportation and supply chain management solutions, today announced that it has expanded its full service lease contract with CEVA Logistics, one of the world’s leading supply chain companies, adding over 1,000 trailers to support its domestic U.S. ground business, including the company’s CEVA Ground and Freight Management businesses.

"We’ve been working with Ryder for more than 30 years and their continued loyalty, geographic coverage and operational flexibility have given us the confidence to sign on to this substantial order,” said Jim Krepp, CEVA’s Vice President of Procurement in the Americas. "This significant upgrade to our fleet provides our customers with state-of-the-art equipment and is a testament to our growing presence in North America.”

CEVA, a leading freight manager in North America, offers Full and Less than Truckload (FTL and LTL) transportation along with dedicated fleet services, intermodal marketing and full transportation brokerage services. With a total fleet now numbering almost 4,700 trailers supporting its North American business in approximately 200 locations, CEVA’s trucking operations and driver recruitment programs continue to grow in markets across the continent.

Ryder’s full service leasing relationship with CEVA started nearly 30 years ago, and has grown to over 200 power units. This year, CEVA renewed its contract and expanded the fleet with Ryder to include 1,044 additional trailers for a total of more than 1,244 vehicles under lease with Ryder. Under the 10-year contract, Ryder will provide a dedicated fleet coordinator who will use a GPS product to oversee the movement of the trailers. The fleet will be serviced via mobile maintenance at each of CEVA’s seven major hubs in North America.

This is also a major milestone for Utility Trailer because the 1,044 units placed for their model 4000D-X Composite^™ is their largest single order, as well as the largest lease account trailer order Ryder has ever placed.

According to Mike Ashe, Manager of National Accounts at Utility Trailer Manufacturing, "We are extremely excited that Ryder and CEVA have chosen Utility to provide them with their 1,044 trailers. Early on in this process, both Ryder and CEVA determined that the 4000D-X Composite’s superior strength and durability and its innovative composite sidewall was the best trailer for them due to its low tare weight and lower operating costs. This order supports the trend that the 4000D-X Composite is the fastest growing model in our history and why it has become a leader in the thin-wall trailer market.”

Robert Sanchez, Ryder’s President of Global Fleet Management Solutions said, "Ryder values its relationship with CEVA and is pleased to support the fleet requirements of such a highly respected company. We look forward to providing viable options for them now and into the future to support their growth.”

Ryder’s Fleet Management Solutions business segment provides full service leasing, rental and programmed maintenance of trucks, tractors, and trailers to commercial customers. Ryder provides full service lease for more than 15,000 customers in the U.S. and Canada, and manages a fleet of 185,000 vehicles.

About CEVA

CEVA Logistics, one of the world’s leading supply chain companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 50,000 employees are dedicated to delivering effective and robust supply chain solutions across a variety of sectors and CEVA applies its operational expertise to provide best-in-class services across its integrated network, with a presence in over 170 countries. For the year ending 31 December 2010, the Group reported revenues of €6.8 billion. For more information, please visit www.cevalogistics.com.

About Utility Trailer Manufacturing Company

Utility Trailer Manufacturing is America's oldest privately owned, family-operated trailer manufacturer. Founded in 1914, the company designs and manufactures dry freight vans, flatbeds, refrigerated vans, curtain-sided trailers, and side skirts. Utility currently operates five trailer manufacturing facilities across the United States. Utility’s 3000R^® and the 3000R^® multi-temp refrigerated trailers are manufactured at the Marion, Virginia and Clearfield, Utah plants. The 4000D^® and 4000D-X Composite^™ dry vans are manufactured at the Glade Spring, Virginia and Paragould, Arkansas plants. The 4000A^®, 4000S^®, drop deck and double flatbeds as well as the Tautliner^® curtainsided trailers are all manufactured at the Enterprise, Alabama facility. Utility also has an extensive independent dealer network with 105 locations throughout the United States, Canada, Mexico, and South America.

About Ryder

Ryder is a FORTUNE 500^® commercial transportation, logistics and supply chain management solutions company. Ryder’s stock 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 included Ryder in its 2010 "50 Green Partners” listing. Ryder also ranked 114 out of the top 500 U.S. companies and sixth in its industry sector in the 2010 Newsweek Green Rankings. In addition, 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.

SAFE HARBOR STATEMENT:

This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company’s expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2011 and the other non-historical statements. These statements can be identified by the use of words such as "believes” "anticipates,” "expects,” "intends,” "plans,” "continues,” "estimates,” "predicts,” "projects,” "forecasts,” and similar expressions. All forward-looking statements are based on management’s current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company’s global operations, fluctuations and increases in fuel prices, the Company’s substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s annual and quarterly reports, available on the Company’s website, which investors are strongly encouraged to review. Should one or more of these risks or uncertainties materialize or the consequences of such a development worsen, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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.