8-K

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): June 30, 2004

GATX Financial Corporation

(Exact Name of Registrant as Specified in its Charter)

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

500 West Monroe Street
Chicago, Illinois
(Address of principal executive offices) 60661-3676
(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 June 30, 2004, GATX Corporation issued a press release announcing that it completed the sale of substantially all the assets and related non-recourse debt of its information technology (IT) leasing business, GATX Technology Services, to CIT Group Inc. 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: July 1, 2004

INDEX TO EXHIBITS

Exhibit No.		Method of Filing
99a	GATX Corporation press release dated June 30, 2004	Filed Electronically

EX-99.A

NEWS RELEASE

FOR RELEASE: IMMEDIATELY

GATX CORPORATION COMPLETES SALE OF INFORMATION TECHNOLOGY LEASING ASSETS

     CHICAGO, June 30 — GATX Corporation (NYSE: GMT) today announced that it completed the sale of substantially all the assets and associated non-recourse debt of its information technology (IT) leasing business, GATX Technology Services, to CIT Group, Inc. The terms of the transaction were not disclosed. The net book value of the IT assets sold, including non-recourse debt, was approximately $520 million.

     Brian A. Kenney, chief financial officer of GATX Corporation, stated, “Both parties worked closely together to complete this sale ahead of the original schedule. I look forward to focusing our full attention on capitalizing on the opportunities in GATX’s franchise rail and air businesses.”

     The agreement to sell these IT assets was previously announced on April 15, 2004.

COMPANY DESCRIPTION

     GATX Corporation (NYSE: GMT) is a specialized finance and leasing company combining asset knowledge and services, structuring expertise, partnering, and capital to provide business solutions to customers and partners worldwide. GATX specializes in railcar, locomotive, and aircraft operating leasing.

FOR FURTHER INFORMATION CONTACT:

Analysts & Investors:
Robert C. Lyons	Rhonda S. Johnson
GATX Corporation	GATX Corporation
312-621-6633	415-955-3211

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

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(06/30/04)