INVESTORS

CHICAGO, January 10, 2001 - First Industrial Realty Trust, Inc. (NYSE: FR) announced today several promotions and one departure.

David Draft has been promoted to executive vice president of operations. Draft was previously managing director of the central region, the company's largest region. He will assume responsibilities for day-to-day operations of the company's four regions, and will report to Chief Investment Officer Johannson Yap. Yap's responsibilities have now been expanded to include all of First Industrial's investment activities and portfolio operations.

Draft has been with First Industrial since 1996, having served originally as regional director of Michigan. In 1997, Draft was promoted to senior regional director of the central region; in 1999, he was promoted to managing director of the central region. Draft has over 27 years of real estate experience.

Arne Cook has been promoted to managing director of the central region, the position vacated by Draft. Cook was previously the senior regional director of the Minneapolis region, and prior to that was regional director of Minneapolis. Cook began his career with First Industrial as a development officer. Last year, Cook was named “Regional Director of the Year” by First Industrial's senior management.

Jim Carpenter has been promoted to executive director of investments, and will report directly to Yap. Carpenter was previously the senior investment officer of the eastern region, and has served as the senior investment officer for several of the company's regions. Last year, Carpenter was named “Investment Officer of the Year” by First Industrial's senior management.