First Industrial Realty Trust Declares Common and Preferred Stock Dividends

Annual Meeting of Stockholders and Record Date Set

CHICAGO, Feb. 27 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading provider of industrial real estate supply chain solutions, today announced that its board of directors declared a dividend of $0.72 per share of common stock for the quarter ending March 31, 2008, payable on April 21, 2008 to stockholders of record on March 31, 2008. This is equivalent to an annual dividend of $2.88 per share.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/FRLOGO)

The board of directors also declared a dividend of $0.45313 per depositary share of its 7.25% Series J Cumulative Redeemable Preferred Stock (NYSE:FR-PrJ) for the quarter ending March 31, 2008 payable on March 31, 2008 to stockholders of record on March 14, 2008. This is equivalent to an annual dividend of $1.8125 per depositary share.

Additionally, the board of directors declared a dividend of $0.45313 per depositary share of its 7.25% Series K Cumulative Redeemable Preferred Stock (NYSE:FR-PrK) for the quarter ending March 31, 2008, payable on March 31, 2008 to stockholders of record on March 14, 2008. This is equivalent to an annual dividend of $1.8125 per depositary share.

First Industrial's Annual Meeting of Stockholders will be held at 9:00 a.m. CDT, May 20, 2008 in Chicago, Illinois. First Industrial's Board of Directors set March 20, 2008 as the record date for the Annual Meeting.

First Industrial Realty Trust, Inc. (NYSE:FR) provides industrial real estate solutions for every stage of a customer's supply chain, no matter how large or complex. Across more than 30 markets in the United States, Canada, The Netherlands and Belgium, our local market experts buy, (re)develop, lease, manage and sell industrial properties, including all of the major facility types -- R&D/flex, light industrial, manufacturing, and regional and bulk distribution centers. We continue to receive leading customer service scores from Kingsley Associates, an independent research firm, and in total, we own and manage more than 100 million square feet of industrial space. For more information, please visit us at http://www.firstindustrial.com/.

This press release contains forward-looking information about the Company. A number of factors could cause the Company's actual results to differ materially from those anticipated, including changes in: national, international, regional and local economic conditions generally and real estate markets specifically, legislation/regulation (including changes to laws governing the taxation of real estate investment trusts), availability of financing, interest rate levels, competition, supply and demand for industrial properties in the Company's current and proposed market areas, potential environmental liabilities, slippage in development or lease-up schedules, tenant credit risks, higher-than-expected costs, changes in general accounting principles, policies and guidelines applicable to real estate investment trusts, and risks related to doing business internationally (including foreign currency exchange risks). For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

First Call Analyst:
FCMN Contact: aharmon@firstindustrial.com

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040106/FRLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: First Industrial Realty Trust, Inc.

CONTACT: Sean P. O'Neill, SVP, Investor Relations and Corporate
Communications, +1-312-344-4401, or Art Harmon, Director, Investor Relations
and Corporate Communications, +1-312-344-4320, both of First Industrial Realty
Trust, Inc.

2008-02-27 18:24:44 0300135 PRNEWSWIRE