INVESTORS

CHICAGO, Oct. 4 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, today announced that on September 29, 2004 it sold 1.25 million shares of its common stock at a price of $37.00 per share through Cantor Fitzgerald & Co., as underwriter. Net proceeds of the sales were approximately $45.8 million.

The Company plans to use the proceeds for the acquisition and development of additional properties and other general corporate purposes.

Copies of the prospectus supplement for the offering may be obtained from Cantor Fitzgerald & Co., 135 East 57th Street, New York, NY 10022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

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 and the operating partnership'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.

CONTACT: Mike Daly of First Industrial Realty Trust, Inc., +1-312-344-4320