GATX CORP — Director's Dealing 2005

Apr 29, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2005-04-27

Reporting Person: CIANCIO RONALD J (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-04-27	Common Stock	M	4000	$23.7813	Acquired	11038	Direct
2005-04-27	Common Stock	M	5000	$23.9375	Acquired	16038	Direct
2005-04-27	Common Stock	S	9000	$32.8682	Disposed	7038	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-04-27	1995 NQ Stock Option (Right to Buy)	$23.7813	M	4000	Disposed	2005-10-27	Common Stock (4000)	Direct
2005-04-27	1996 NQ Stock Option (Right to Buy)	$23.9375	M	5000	Disposed	2006-10-25	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock 401(k)	7218	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.