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

                                    FORM 8-K
                                 CURRENT REPORT
                              -------------------

                       PURSUANT TO SECTION 13 OR 15 (d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of Earliest Event Reported): April 15, 2004

                              -------------------

                           GATX Financial Corporation
             (Exact Name of Registrant as Specified in its Charter)



           Delaware                       1-8319                94-1661392
(State or other jurisdiction of     (Commission File          (IRS Employer
        incorporation)                  Number)             Identification No.)



          500 West Monroe Street
             Chicago, Illinois                        60661-3676
 (Address of principal executive offices)             (Zip Code)



        Registrant's telephone number, including area code (312) 621-6200






ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS.

GATX Financial Corporation is a wholly-owned subsidiary of GATX Corporation.

On April 15, 2004, GATX Corporation issued a press release announcing that it
has agreed to sell substantially all the assets and related non-recourse debt of
its information technology (IT) leasing business, GATX Technology Services, to
CIT Group Inc. The transaction is expected to close by July 31, 2004. Terms of
the transaction were not disclosed.



                                    SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                            GATX FINANCIAL CORPORATION
                                      ----------------------------------
                                                   (Registrant)

                                                 /s/ Brian Kenney
                                      ----------------------------------
                                                  Brian A. Kenney
                                             Senior Vice President and
                                              Chief Financial Officer
                                             (Duly Authorized Officer)

Date:  April 15, 2004





                                INDEX TO EXHIBITS

Exhibit No.                                              Method of Filing
-----------                                              ----------------
99a               GATX Corporation press release         Filed Electronically
                  dated April 15, 2004