GATX CORP — Director's Dealing 2003

Aug 22, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2003-08-21

Reporting Person: MUCKIAN WILLIAM M (Vice President-Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-21	Common Stock	M	2000.00	$18.8438	Acquired	2962.21	Direct
2003-08-21	Common Stock	S	2000.00	$20.96	Disposed	962.21	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-21	1993 NQ Stock Option (right to buy)	$18.84	M	2000.00	Disposed	2003-10-28	Common Stock (2000.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - 401(k)	3706.44	Indirect

Footnotes

F1: Issued under the GATX Corporation Long Term Incentive Compensation Plan

F2: 50% of option granted may be exercised commencing 1 year from the date of the grant, an additional 25% commencing 2 years from th
e date of the grant and the remaining 25% commencing 3 years from the date of the grant.