GATX CORP — Director's Dealing 2005

Aug 16, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2005-08-12

Reporting Person: HASEK WILLIAM J (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-12	Common Stock	M	1000	$33.4688	Acquired	3723	Direct
2005-08-12	Common Stock	M	1993	$28.6875	Acquired	5716	Direct
2005-08-12	Common Stock	M	5000	$30.4688	Acquired	10716	Direct
2005-08-12	Common Stock	S	7332	$40.7107	Disposed	3384	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-12	1997 NQ Stock Option (Right to Buy)	$33.4688	M	1000	Disposed	2007-10-24	Common Stock (1000)	Direct
2005-08-12	2000 NQ Exchange Stock Option (Right to Buy)	$28.6875	M	1993	Disposed	2010-01-28	Common Stock (1993)	Direct
2005-08-12	2000 NQ Stock Option (Right to Buy)	$30.4688	M	5000	Disposed	2010-03-10	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock 401(k)	425.348	Indirect

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 the date of the grant and the remaining 25% commencing 3 years from the date of the grant.

F2: Under the terms of the GATX Corporation 1995 Long Term Incentive Compensation Plan, participants could defer a percentage of the bonus each would otherwise receive during the following year under the Managment Incentive Program. The deferred portion of the bonus could be exchanged for options at a price equal to 20% of the average price of GATX common stock on the date the options were granted.

F3: 50% of option granted may be exercised commencing 1 year from the date of the grant, an additional 25% commencing 2 years from the date of the grant and the remaining 25% commencing 3 years from the date of the grant.