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Pricing Supplement dated August 18, 1998 Rule 424(b)(3)
(To Prospectus dated February 11, 1998 and File No. 333-45105
Prospectus Supplement dated August 12, 1998)
UNION TANK CAR COMPANY
MEDIUM-TERM NOTES, SERIES B - FIXED RATE
________________________________________________________________________________
Trade Date: August 18, 1998 Original Issue Date: August 21, 1998
Principal Amount: $10,000,000 Net Proceeds to Issuer: $9,940,000
Currency: U.S. $ Minimum Denomination: $1,000
Issue Price: 100%
Selling Agent's Commission: .600%
Interest Rate: 6.40%
Interest Payment Date(s): February 15 and August 15, commencing February 15,
1999
Maturity Date: August 15, 2006
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Form: X Book-Entry
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Certificated
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Redemption: X The Notes cannot be redeemed prior to maturity
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The Notes may be redeemed prior to maturity
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Initial Redemption Date: N/A
Initial Redemption Price: N/A
Annual Redemption Price Reduction: N/A
Repayment: X The Notes cannot be repaid prior to maturity
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The Notes can be repaid prior to maturity at the option
---------- of the holder
Repayment Price: N/A
Repayment Date: N/A
Discount Note: Yes
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X No
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Total Amount of OID: N/A
Original Yield to Maturity: N/A
Initial Accrual Period OID: N/A
Method Used to Determine Yield for Initial Accrual Period:
Approximate Exact
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Capacity: Agent X Principal
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If as principal: X The Registered Notes are being offered at
---------------- varying prices related to prevailing market
prices at the time of resale.
The Registered Notes are being offered
---------------- at a fixed initial public offering price
____% of Principal Amount. The Registered
Notes are being reoffered to dealers with a
reallowance not to exceed ___% of the
Commission or Fee.
MORGAN STANLEY DEAN WITTER
