GATX Board Elects Deborah Fretz Lead Director

CHICAGO--Aug. 2, 2005--The board of directors of GATX Corporation today announced they have elected Deborah M. Fretz to the new position of lead director.

Among her responsibilities as lead director, Ms. Fretz will serve as a formal liaison between the independent directors and senior management of the Company, chair the executive sessions of the board's independent directors, act as ex officio member of each board committee, and assist with establishing the agenda for each board meeting. Currently, eight of GATX's ten directors satisfy the independence standards of the New York Stock Exchange and the Company's standards of independence.

Ms. Fretz was first elected to the board of directors of GATX in December 1993 and served as chair of the audit committee from 1999 until her election as lead director. Ms. Fretz was named President and Chief Executive Officer of Sunoco Logistics Partners, L.P., an owner and operator of refined product and crude oil pipelines and terminal facilities, in October 2001.

Mr. Michael E. Murphy, director of GATX since 1990 and retired former Vice Chairman and Chief Administrative Officer of Sara Lee Corporation, was elected to succeed Ms. Fretz as chair of the audit committee.

Further information on GATX's corporate governance is available on the Company's website at www.gatx.com in the investor relations section.

COMPANY DESCRIPTION

GATX Corporation provides lease financing and related services to customers operating rail, air, marine and other targeted assets. GATX is a leader in leasing transportation assets and controls one of the largest railcar fleets in the world. Applying over a century of operating experience and strong market and asset expertise, GATX provides quality assets and services to customers worldwide. GATX has been headquartered in Chicago, IL since its founding in 1898 and has traded on the New York Stock Exchange since 1916. For more information, visit the Company's website at www.gatx.com.

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