GATX CORP — Director's Dealing 2004

Feb 13, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2004-02-06

Reporting Person: GLENN CURT F (EVP Ops/Prtfolio Mgmt GATX Cap)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1.25	Direct
Common Stock - 401(k)	6450.82	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
1998 NQ Stock Option (Right to Buy)	$39.7188	2008-07-24	Common Stock (3500)		Direct
1994 NQ Stock Option (right to buy)	$20.9063	2004-10-28	Common Stock (2000)		Direct
1995 NQ Stock Option (right to buy)	$23.7813	2005-10-27	Common Stock (2000)		Direct
1996 NQ Stock Option (right to buy)	$23.9375	2006-10-25	Common Stock (3000)		Direct
1997 NQ Stock Option (right to buy)	$33.4688	2007-10-24	Common Stock (4000)		Direct
1999 NQ Stock Option (Right to Buy)	$39.4688	2009-07-23	Common Stock (1500)		Direct
2000 NQ Stock Option (Right to Buy)	$30.4688	2010-03-10	Common Stock (1750)		Direct
2001 NQ Exchange Stock Option (Right to Buy)	$45.0625	2011-01-26	Common Stock (2854)		Direct
2001 NQ Stock Option (Right to Buy)	$39.145	2011-07-27	Common Stock (6000)		Direct
2003 NQ Stock Option (Right to Buy)	$21.85	2013-08-01	Common Stock (12000)		Direct
2003 NQ Stock Option (Right to Buy)	$15.18	2013-03-21	Common Stock (20000)		Direct
April, 2002 NQ Stock Option (Right to Buy)	$31.735	2012-04-26	Common Stock (5000)		Direct
July, 2002 NQ Stock Option (Right to Buy)	$24.17	2012-07-26	Common Stock (5000)		Direct

Footnotes

F1: 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.

F2: The number of options the reporting person may purchase is calculated when bonuses are paid in February. However, in accordance with the Exchange Stock Option Program under the 1995 Long Term Incentive Compensation Plan, the options are exercisable retroactive to the grant date.