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GATX Enhances Bulk Chemical And Petroleum Supply Chain Management Capabilities Through Acquisition Of Clover Systems Inc

CHICAGO, January 6 --- The Liquid Logistics unit of GATX Corporation today announced that it has acquired a majority interest in Clover Systems Inc. ("CSI") of Berkeley Heights, New Jersey, the world's foremost provider of remote tank monitoring equipment and services. Terms of the transaction were not disclosed.

CSI develops and markets monitoring systems which capture real-time inventory status at remote storage tanks. CSI's proprietary software analyzes data and creates product demand and usage profiles for a single tank or a network of tanks at multiple facilities. Clients -- including Air Products and Chemicals, BASF Corp., Occidental Chemical and Olin Chemicals -- use this critical information to make better and faster procurement and distribution decisions and, increasingly, to offer single source supply contracts coupled with "VMI," Vendor Managed Inventory arrangements.

Stephen Fraser, managing director of GATX Liquid Logistics, said, "One of GATX's key strategies is to build on its understanding of chemical and petroleum supply and distribution chains. As the world's leading provider of rail cars and bulk liquid distribution services and assets, GATX now offers its customers a number of highly integrated services. CSI's telemetry technology and reporting capabilities will provide GATX's customers with timely and reliable information."

Robert J. Barnacle, president of CSI stated, "We are excited about the opportunity to combine our leading-edge technology with GATX's supply chain expertise, long term customer relationships, and outstanding reputation. This will also allow us to fully leverage our services, including WEB*VMI™." Launched in early 1997, WEB*VMI™ (www.csimonitoring.com) provides CSI's clients secure Internet access for their customized remote tank monitoring reports including on-line vendor managed and consignment stock information.

Stephen Fraser of GATX Liquid Logistics added, "This technology is the key for any company seeking supply chain innovation. It's simple, cost-effective and scalable. It can stand alone or be integrated with inventory, transportation and information management applications. GATX Liquid Logistics provides managed services to bulk liquid shippers and, in conjunction with CSI's capabilities, we will offer chemical companies a very practical and easy-to-implement means to improve business performance --- whether they are building a comprehensive view of inventories, differentiating their product with VMI, or building global supply networks."

Clover Systems, Inc. is a New Jersey-based technology company which designs, furnishes, installs and supports customized remote tank monitoring systems for the chemical, industrial gas, municipal water and water treatment industries. CSI's WEB-enabled service integrates the analog and digital world of monitoring inventory using sensors and flow meters with an Internet based information system. CSI has over 6,000 installations world-wide, utilizing either regular phone lines or wireless communications.

GATX Corporation provides approximately $6 billion of service-enhanced assets primarily used to help customers transport, store or distribute their products and information. GATX's assets include rail cars and locomotives, bulk liquid terminals and pipelines, ships, commercial aircraft, technology equipment and other assets and related services worldwide. In addition, GATX offers a variety of financial services focused on enhancing the value of owned and leased assets.