GATX Air Announces Formation of Aircraft Joint Venture

CHICAGO--April 19, 2005--GATX Air today announced the formation of Alster & Thames Partners Ltd., a new aircraft investment joint venture between GATX Air and HSH Nordbank AG. The initial assets of the joint venture are approximately $125 million of commercial jet aircraft acquired in the secondary market by GATX Air in 2004. GATX Air also will provide management services to the joint venture, including aircraft purchase, leasing, lessee account administration and disposition services.

Alan C. Coe, president of GATX Air, said "HSH is an important player in transportation finance and GATX is pleased to be co-investing with such a knowledgeable partner. Managing this joint venture continues GATX's strategy of leveraging our asset expertise by managing assets for partners. We look forward to additional opportunities to expand our management platforms."

At December 31, 2004, GATX Air had ownership interests in 163 aircraft and managed an additional 66 aircraft for other third-party investors. This fleet of owned and managed aircraft is operated by over 60 airlines located in countries worldwide.

COMPANY DESCRIPTIONS

GATX Air is a division of GATX Financial Corporation, a wholly owned subsidiary of GATX Corporation . GATX is a specialized leasing company combining asset knowledge and services, structuring expertise, partnering, and capital to provide business solutions to customers and partners worldwide. GATX specializes operating leasing of railcar, locomotive, aircraft, marine vessel and other targeted assets.

HSH Nordbank AG was established in Germany following the merger of Hamburgische Landesbank and Landesbank Schleswig-Holstein (LB Kiel) in 2003. HSH Nordbank is active in many areas, including transportation finance covering the entire transportation chain of aviation, rail and logistics/infrastructure. The aviation segment is comprised of a portfolio of approximately 4.5 billion Euros of loans to airlines worldwide, financing more than 600 aircraft.

Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com.