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GATX CAPITAL ACQUIRES RAIL ASSETS FROM WESTINGHOUSE

 SAN FRANCISCO, June 24 /PRNewswire/ -- GATX Rail, a division of GATX Capital Corporation, has acquired a portfolio of rail assets from Westinghouse Electric Corporation (NYSE: WX). The acquisition includes more than 1,500 double-stack intermodal cars, steel and aluminum coal cars and woodchip freight cars. These railcars have an original value of approximately $100 million and the majority of the railcars are less than five years old. Additional terms of the acquisition were not disclosed.
 The 1,500-railcar acquisition brings GATX Rail's lease fleet to more than 42,000 freight cars and 850 locomotives in which it has either ownership or management interests. Railroads and shippers take advantage of GATX Rail's flexible lease packages which include short-, medium- and long-term leases.
 "This is yet another example of GATX Capital's ability to combine its asset knowledge within GATX Rail, with the portfolio acquisition capabilities of the Corporate Finance Group to acquire assets in a financial market and deploy them in the operating market," said Joe Lane, president of GATX Leasing. "Additionally, this acquisition represents an expansion of our presence in the intermodal markets where we anticipate seeing significant growth in the coming years."
 GATX Capital Corporation is a diversified, asset-oriented, financial services company which invests for its own account and manages assets for other institutional investors. GATX Capital owns or manages portfolio assets with an original cost of approximately $8 billion, the largest concentration of which incudes air, rail and manufacturing equipment.
 GATX Capital is a subsidiary of Chicago-based GATX Corporation (NYSE: GMT), a $3.5 billion service-based asset company which provides a variety of equipment and financial services for use in various domestic and international transportation markets. GATX is a leading provider of rail, aircraft, bulk liquid storage terminals and pipelines, logistics support and warehousing, and Great Lakes shipping assets. GATX also offers a variety of financial services focusing on owning or managing transportation and distribution assets.
 -0- 6/24/93
 /CONTACT: Holly Rea of GATX, 312-621-6493/
 (GMT WX)


CO: GATX Corporation; Westinghouse Electric Corporation ST: Illinois, California IN: TRN SU: TNM

MG -- NY029 -- 5305 06/24/93 12:08 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
Words:351
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