GATX CORP — Director's Dealing 2005

Aug 3, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2005-08-01

Reporting Person: ZECH RONALD H (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-01	Common Stock	M	10000	$23.9375	Acquired	98688.03	Direct
2005-08-01	Common Stock	S	10000	$38.4791	Disposed	88688.03	Direct
2005-08-02	Common Stock	M	8000	$23.9375	Acquired	96688.03	Direct
2005-08-02	Common Stock	S	8000	$38.394	Disposed	88688.03	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-01	1996 NQ Stock Option (Right to Buy)	$23.9375	M	10000	Disposed	2006-10-25	Common Stock (10000)	Direct
2005-08-02	1996 NQ Stock Option (Right to Buy)	$23.9375	M	8000	Disposed	2006-10-25	Common Stock (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock 401(k)	21626.884	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: 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.