INVESTORS

CHICAGO, May 8, 2002 – First Industrial Realty Trust, Inc. (NYSE: FR) announced today that it has named Mark Volkman as its Marketing and Leasing Director of the Cincinnati region.

Volkman will be responsible for directing the marketing and leasing of First Industrial's 4.7 million square-foot portfolio covering the Cincinnati, Cleveland, Columbus, Dayton and Louisville markets. Prior to joining First Industrial, Volkman was with ProLogis Trust where he served as marketing representative for its Cincinnati and Louisville portfolio. Mark received his Bachelor of Science in Business Administration from Ohio State University.

“Mark's knowledge of the region and his emphasis on building strong customer and broker relationships will prove invaluable to the region's industrial real estate community,” said Kevin Smith, Senior Regional Director for First Industrial in the Cincinnati and Indianapolis regions. “We are excited he has decided to join the First Industrial team.”

First Industrial Realty Trust, Inc. is the nation's largest provider of diversified industrial real estate. The Company serves every aspect of Corporate America's industrial real estate needs, including customized supply chain solutions, through its unique I-N-D-L strategy, which utilizes a pure Industrial focus and National platform to provide Diverse facility types, while offering Local, full-service management and expertise. First Industrial develops long-term relationships with corporate real estate directors, tenants and brokers to better serve customers with creative, flexible industrial real estate solutions, by building, buying, selling, leasing and managing industrial property in major markets nationwide.

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: economic conditions generally and the real estate market specifically, legislative/regulatory changes (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 and changes in general accounting principles, policies and guidelines applicable to real estate investment trusts. 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.