GATX Corporation Announces Increase in Common Dividend And Stock Repurchase Authorization

    CHICAGO, Jan. 26 GATX Corporation today
announced that its Board of Directors has approved an increase in its
quarterly cash dividend to $.31 per common share, payable March 31, 2001, to
shareholders of record on March 9, 2001.  On an annual basis, this represents
an increase from $1.20 to $1.24 per common share.  The Board also authorized
the company's management to purchase up to 3.5 million shares of the company's
outstanding common stock.  The purchases may be made in the open market or
through privately negotiated transactions and will be dependent on market
conditions and other considerations.
    Ronald H. Zech, chairman, stated, "The Board actions today reflect our
confidence in the future of the company.  GATX has now increased its dividend
in each of the past sixteen years and has paid quarterly dividends
consecutively since 1919.  Today's dividend increase also reflects the fact
that as a specialized finance and leasing company, our primary objective is to
maximize shareholder returns by pursuing investments in our core markets.  We
plan to pursue these investment opportunities while providing our shareholders
with a dividend yield and payout ratio that over time is commensurate with our
finance company peers.
    "With over $1.0 billion of investment backlog entering this year, we are
well positioned to pursue substantial investment opportunities in our core
markets.  The purchase authorization serves as a complement to our investment
strategy and provides us with the flexibility to purchase our own stock on an
opportunistic basis.  This authorization is manageable within the context of
our recently announced plans to pursue an enhancement in our credit standing
-- a step that we are confident will further strengthen our competitive
position and performance."
    Mr. Zech concluded, "We are entering 2001 with greater focus on our high
return businesses, established positions in markets with attractive long-term
fundamentals, and unprecedented investment opportunities.  Our confidence in
the company's future is clearly underscored by today's actions."
    The Board also declared a quarterly dividend of $0.625 per share on the
$2.50 preferred stock, payable March 1, 2001, to shareholders of record on
February 15, 2001.

    COMPANY DESCRIPTION
    GATX Corporation is a unique finance and leasing company
combining asset knowledge and services, structuring expertise, creative
partnering and risk capital to serve customers and partners worldwide.  GATX
primarily focuses on leasing assets that include railroad cars and
locomotives, jet commercial aircraft, and technology and marine assets.

    FORWARD LOOKING STATEMENTS
    This press release includes statements which may constitute forward-
looking statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995.  This information may involve risks
and uncertainties that could cause actual results to differ materially from
the forward-looking statements.  Although the company believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and uncertainties
including but not limited to general conditions, including demand and pricing
in its primary rail, air, technology, and diversified equipment leasing
markets, opportunities for asset resale within these markets, and labor
conditions within the company's rail service network.  These factors and
others could cause actual results to differ materially from those projected.

    Investor, corporate information and press releases may be found at
http://www.gatx.com .  A variety of current financial information, historical
financial information, press releases and photographs are available at this
site.  GATX press releases may be obtained by accessing PR Newswire's Company
News On-Call's automated fax service at 800-758-5804.  The company
identification number for GATX is 105121.