SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

GLENN CURT F

(Last)

(First)

(Middle)

FOUR EMBARCADERO CENTER

(Street)

SAN FRANCISCO

94111

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/06/2004

3. Issuer Name and Ticker or Trading Symbol
GATX CORP [ GMT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP Ops/Prtfolio Mgmt GATX Cap

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1.25	D
Common Stock - 401(k)	6,450.82	I	401(k)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1998 NQ Stock Option (Right to Buy)	07/24/1999⁽¹⁾	07/24/2008	Common Stock	3,500	$39.7188	D
1994 NQ Stock Option (right to buy)	10/28/1995⁽¹⁾	10/28/2004	Common Stock	2,000	$20.9063	D
1995 NQ Stock Option (right to buy)	10/27/1996⁽¹⁾	10/27/2005	Common Stock	2,000	$23.7813	D
1996 NQ Stock Option (right to buy)	10/25/1997	10/25/2006⁽¹⁾	Common Stock	3,000	$23.9375	D
1997 NQ Stock Option (right to buy)	10/24/1998⁽¹⁾	10/24/2007	Common Stock	4,000	$33.4688	D
1999 NQ Stock Option (Right to Buy)	07/23/2000⁽¹⁾	07/23/2009	Common Stock	1,500	$39.4688	D
2000 NQ Stock Option (Right to Buy)	03/10/2001⁽¹⁾	03/10/2010	Common Stock	1,750	$30.4688	D
2001 NQ Exchange Stock Option (Right to Buy)	01/26/2001⁽²⁾	01/26/2011	Common Stock	2,854	$45.0625	D
2001 NQ Stock Option (Right to Buy)	07/27/2002⁽¹⁾	07/27/2011	Common Stock	6,000	$39.145	D
2003 NQ Stock Option (Right to Buy)	08/01/2004⁽¹⁾	08/01/2013	Common Stock	12,000	$21.85	D
2003 NQ Stock Option (Right to Buy)	03/21/2004⁽¹⁾	03/21/2013	Common Stock	20,000	$15.18	D
April, 2002 NQ Stock Option (Right to Buy)	04/26/2003⁽¹⁾	04/26/2012	Common Stock	5,000	$31.735	D
July, 2002 NQ Stock Option (Right to Buy)	07/26/2003⁽¹⁾	07/26/2012	Common Stock	5,000	$24.17	D

Explanation of Responses:

1. 50% of option granted may be exercised commencing 1 year from the date of the grant, an additional 25% commencing 2 years from th e date of the grant and the remaining 25% commencing 3 years from the date of the grant.

2. The number of options the reporting person may purchase is calculated when bonuses are paid in February. However, in accordance with the Exchange Stock Option Program under the 1995 Long Term Incentive Compensation Plan, the options are exercisable retroactive to the grant date.

Remarks:

	Lisa M. Ibarra, by Power of Attorney on behalf of Curt F. Gl	02/12/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.