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[GATX LOGO]


FOR RELEASE:  IMMEDIATELY

GATX CORPORATION AND GATX CAPITAL CORPORATION REPORT ON GATX/AIRLOG LITIGATION
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         CHICAGO, FEBRUARY 20 - GATX Corporation and GATX Capital Corporation
today reported on the conclusion of the first phase of a trial that is currently
underway in Federal District Court for the Northern District of California to
which GATX Capital is a party.

         As noted in detailed descriptions in the GATX Corporation and GATX
Capital filings on forms 10-Q and 10-K, GATX Capital is party to litigation
arising from the issuance by the Federal Aviation Administration of
Airworthiness Directive 96-01-03, the effect of which significantly reduced the
amount of freight that ten 747 aircraft were authorized to carry. These aircraft
were modified from passenger to freighter configuration between 1988 and 1994 by
subcontractors of GATX/Airlog, a California partnership in which a subsidiary of
GATX Capital is a partner. GATX Capital previously reached settlements covering
five of the aircraft, and the remaining five are the subject of this trial.

         The first phase of the trial concluded on Friday, February 16. The jury
found that GATX/Airlog breached its warranties under the applicable aircraft
modification agreements, and fraudulently failed to disclose information to the
operators of the aircraft. The second phase of the trial to determine damages to
be awarded to the plaintiffs is expected to conclude within three weeks.

         While the amounts claimed in this matter are substantial, the extent of
liability with respect to such claims cannot be reasonably estimated at this
time. However, once finally determined, the amount required to be paid will be
material to the results of operations in a given period for GATX Capital and
GATX Corporation, and may have a material adverse effect on the financial
condition of these parties. The company is currently evaluating the amount of
estimated reserves that may be required for payment of damages. The accrual for
estimated reserves will be considered a subsequent event in accordance with
Generally Accepted Accounting Principles, and as such will be reflected in 2000
results.

         Jesse V. Crews, president of GATX Capital Corporation, stated, "We
strongly believe that throughout the course of the trial GATX/Airlog offered
evidence showing that it did not breach its obligations under the terms of the
modification agreements and made all required disclosures to its




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customers. In that regard, the jury's decision is disappointing. This is an
extremely complex case involving a number of difficult and novel factual and
legal issues. We believe a number of those issues present important matters for
further judicial review, and we plan to vigorously pursue appropriate review of
those issues."

         Further information with regard to this trial will be communicated as
appropriate.

COMPANY DESCRIPTION
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         GATX Corporation (NYSE: GMT), 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
Corporation provides leasing and financial services responsive to the
specialized needs of a range of businesses. GATX Corporation specializes in
railcar and locomotive operating leasing, aircraft operating leasing,
information technology leasing, and venture finance for customers in diverse
industrial sectors worldwide.

FOR FURTHER INFORMATION CONTACT:




Analysts and Investors              Media
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Robert C. Lyons                     George S. Lowman
Director of Investor Relations      Managing Director-Communications
GATX Corporation                    GATX Corporation
312-621-6633                        312-621-6599