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: MURPHY MICHAEL E (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-02	Common Stock	A	437.5864	$32.565	Acquired	16076.7171	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3186	Indirect

Footnotes

F1: Includes 78.5341 shares acquired pursuant to a dividend reinvestment feature of the GATX Directors Phantom Stock Plan ("Phantom Stock Plan") and 17.4176 shares acquired pursuant to a dividend reinvestment feature of the Directors Deferred Fee Plan ("Deferred Fee Plan").

F2: Includes that portion of 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") which in each case will be settled in common stock upon the expiration of the directors service on the Board.