GATX CORP — Director's Dealing 2005

May 4, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2005-05-02

Reporting Person: FAIRBANKS RICHARD M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-02	Common Stock	A	898.2036	$32.565	Acquired	22431.0379	Direct

Footnotes

F1: Includes 76.3642 shares acquired pursuant to a dividend reinvestment feature of the Directors Phantom Stock Plan ("Phantom Stock Plan") and 45.6657 shares acquired pursuant to a dividend reinvestment feature of the Directors Deferred Fee Plan ("Deferred Fee Plan").

F2: Includes that portion of (a) the quarterly payment of the annual directors fee (437.5864 shares) credited to an account established for each director under the GATX Directors Phantom Stock Plan ("Phantom Stock Plan") and (b) the annual retainer and meeting fee (460.6172 shares) which the reporting person elected to invest in units of phantom stock under the Directors Deferred Fee Plan ("Deferred Fee Plan"), which in each case will be settled in common stock upon the expiration of the directors service on the Board.