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[UNION TANK CAR COMPANY LETTERHEAD]
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Trade Date: September 10, 1998 Original Issue Date: September 15, 1998
Principal Amount: $10,000,000 Net Proceeds to Issuer: $9,965,000
Currency: U.S. $ Minimum Denomination: $1,000
Issue Price: 100%
Selling Agent's Commission: .350%
Interest Rate: 5.78%
Interest Payment Date(s): February 15 and August 15, commencing February 15,
1999
Maturity Date: September 17, 2001
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Form: X Book-Entry
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Certificated
---
Redemption: X The Notes cannot be redeemed prior to maturity
---
--- The Notes may be redeemed prior to maturity
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
---
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
---
X No
---
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
--- ---
Capacity: X Agent Principal
--- ---
If as principal: 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.
SALOMON SMITH BARNEY
