GATX CORP — Director's Dealing 2006

Dec 15, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: GATX CORP (GMT)
CIK: 0000040211
Period of Report: 2006-12-07

Reporting Person: Porzenheim Clifford J (N/A)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock 401(k)	7285.914	Indirect
Common Stock	12659.9356	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
1998 NQ Stock Option (Right to Buy)	$39.7188	2008-07-24	Common Stock (4500)		Direct
1999 NQ Stock Option (Right to Buy)	$39.4688	2009-07-23	Common Stock (5000)		Direct
2000 NQ Stock Option (Right to Buy)	$30.4688	2010-03-10	Common Stock (8000)		Direct
2001 NQ Exchange Stock Option (Right to Buy)	$45.0625	2011-01-26	Common Stock (3497)		Direct
2001 NQ Stock Option (Right to Buy)	$39.145	2011-07-27	Common Stock (7000)		Direct
2002 NQ Stock Option (Right to Buy)	$31.735	2012-04-26	Common Stock (4500)		Direct
2003 NQ Stock Option (Right to Buy)	$21.85	2013-08-01	Common Stock (14000)		Direct
2004 NQ Stock Option (Right to Buy)	$24.365	2011-08-06	Common Stock (5100)		Direct
2005 NQ Stock Option (Right to Buy)	$32.645	2012-03-25	Common Stock (4600)		Direct
Stock-Settled Stock Appreciation Right	$38.625	2013-03-10	Common Stock (4000)		Direct

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.

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.

F4: 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.

F5: 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.

F6: 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.

F7: 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.

F8: 50% of Stock-Settled Stock Appreciation Right 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.

F9: 5,000 shares are restricted stock vesting on October 1, 2008.