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# CATERPILLAR FINANCIAL SERVICES CORPORATION

POWERNOTES (R)

With Maturities of 9 months or more from Date of Issue

Registration No.  333-109182

Filed Pursuant to Rule 424 (b) (3)

PRICING SUPPLEMENT NO.  470                                                              Trade Date:  08/16/04

(To Prospectus Supplement dated November 6, 2003 &

  Prospectus dated October 15,2003)                                                         Issue Date:   08/19/04

The Date of this Pricing SupplementAugust 16, 2004

SUBJECT TO REDEMPTION OR REPAYMENT

 CUSIP                                                                                                                             Date and terms of redemption or

     or       Stated                                                                 Interest                                       repayment (includingany

Common   Interest                       Price to   Discounts&         Payment       Survivors                  applicable regular or special

  Code      Rate (1)     Maturity    Public (2)  Commissions       Frequency        Option    Yes/No     record dates)

14911QVP3  5.25%        08/15/19          100%             2.25%                 Monthly                    YES         YES              Callable at 100% beginning08/15/07                                                                                                                                                                                                                                 and monthlythereafter.                                                                                                                                                                                          

                                                                                                                                                                                                              

Principal                                                                               1st Payment               Day         

Amount                   Proceeds                   Dealer                           Date                   Count

$3,231,000.00           $3,158,302.50           ABN AMROInc.         09/15/04                               30/360     

Original Issue DiscountNote:                                                                     Total Amount of OID:

____  Yes               X   No                                                                              N/A

The interest rates on the PowerNotes (R) may be changed by Caterpillar Financial Services Corporation from time to time, but any such change will not affect the interest rate on any PowerNotes (R) offered prior to the effective date of the change.  Prior to the date of this Pricing Supplement, $137.789 mm principal amount of the PowerNotes (R) were sold at interest rates then in effect.  Subsequent offerings of PowerNotes (R) will be made under the Prospectus Supplement and Prospectus dated October 15,2003.

Expressed as a percentage of aggregate principal amount.  Actual Price to Public may be less, and will be determined by prevailing market prices at the time of purchase as set forth in the confirmation sheet.