INVESTORS

CHICAGO, May 24 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, today announced that senior management will host an investor and analyst presentation on Wednesday, May 26, 2004 in New York City. The Company will present an overview of its value-creation strategy and growth initiatives, including through joint ventures.

The presentation will be available live via conference call to all interested parties and is scheduled to begin at 10:00 a.m. EDT. The dial in number is 877-780-2276 and the passcode is "First Industrial." The presentation will also be available live via webcast on First Industrial's web site, http://www.firstindustrial.com , under the "Investor Relations" tab. Replay will also be available on the web site.

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.

CONTACT: Michael Daly, Director, Investor Relations-Corporate Communications of First Industrial Realty Trust, Inc., +1-312-344-4320