GATX CORP — Director's Dealing 2005

Aug 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2005-08-16

Reporting Person: ZECH RONALD H (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-16	Common Stock	M	50000	$24.17	Acquired	138688.03	Direct
2005-08-16	Common Stock	S	50000	$41.437	Disposed	88688.03	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-16	2002 NQ Stock Option (Right to Buy)	$24.17	M	50000	Disposed	2012-07-26	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock 401(k)	21605.444	Indirect

Footnotes

F1: GATX Corporations 401(k) plan is a unitized stock fund made up of company stock plus short term investments. Because the fund includes more than company stock, participants purchase units of the fund rather than company shares of stock. The number of units held by a participant may vary depending on the performance of the company stock, the overall stock market, and the amount of short term investments in the fund. Such a variance has caused the value of the units in Mr. Zechs 401(k) fund to be reduced without any actual disposition of shares.