INVESTORS

CHICAGO, IL, July 21, 2003 -- First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, announced today the opening of its regional office in Milwaukee, Wisconsin and the hiring of Peter S. Ginn to lead its expansion efforts.

Mr. Ginn will oversee the acquisition, disposition and development of properties, as First Industrial expands its presence throughout its Milwaukee region. He will also be responsible for leasing and managing First Industrial's greater Milwaukee portfolio, which includes nine properties and a total of nearly half a million square feet of industrial space.

“With one of the most consistently strong economies in the nation, a diverse business mix and a strong labor pool, Milwaukee offers attractive growth opportunities for First Industrial,” said Mike Brennan, president and chief executive officer. “As with our other geographic locations, we believe a strong local presence is critical to enhancing customer service and strengthening broker relations -- a central principle of our I-N-D-L operating platform.”

Brennan continued, “We are very pleased to have Peter, a well-recognized Milwaukee-area real estate professional, on board to lead this effort. In addition to strong local-market expertise, he brings in-depth transaction experience and extensive broker relationships. Peter is an excellent addition to our team and will be instrumental to increasing our market share in the region.”

Mr. Ginn was most recently a broker at Inland Companies, where he oversaw and brokered transactions for over 1.5 million square feet of investment-grade property. Before joining Inland, Mr. Ginn worked at Trammell Crow Company, where he served as a vice president. During his tenure at Trammell Crow, Mr. Ginn brokered over 87 transactions, totaling 1.8 million square feet, and oversaw operations for over one million square feet of industrial and office properties. Prior to joining Trammell Crow, Mr. Ginn held property management positions at Fidinam USA and Heitman Properties.

First Industrial Realty Trust, Inc., the nation's largest provider of diversified industrial real estate, serves every aspect of Corporate America's industrial real estate needs, including customized supply chain solutions, through its unique I-N-D-L operating platform, which utilizes a pure Industrial focus and National scope to provide Diverse facility types, while offering Local, full-service management and expertise. Building, buying, selling, leasing and managing industrial property in major markets nationwide, 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.

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.

SOURCE First Industrial Realty Trust, Inc. 7/21/2003
CONTACT: Mike Daly of First Industrial Realty Trust, +1-312-344-4320/