INVESTORS

CHICAGO, June 23, 2003 – First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, announced today that it has named Ron Carey as senior investment officer. Carey, a 20-year veteran of the industry, will be responsible for acquisitions in the Gulf/Mountain region, which encompasses the Dallas, Denver, Houston, Phoenix and Salt Lake City markets. “Ron offers our corporate customers and the brokerage community a unique blend of in-depth experience in acquisitions, dispositions and development,” said James D. Carpenter, executive director of investments for First Industrial. “This skill set, combined with his extensive relationships and deep roots in Texas, will greatly enhance our ability to provide comprehensive solutions to our corporate customers and innovative transaction structures to the brokerage and investment communities. We are thrilled to add Ron to our team.”

Carey was most recently vice president of real estate at Opus South Corporation in Tampa, Florida, where he was responsible for sales, pre-sales, joint ventures, equity relationships and various aspects of development. Prior to Opus, Carey was an investment manager for the State Board Administration of Florida where was instrumental in doubling annual real estate investment volume to $600 million. He has also held positions with the L&B Group/Lehndorff USA, and Vantage Companies. Carey holds a degree in Business Administration from Southern Methodist University in Dallas, Texas. He will operate out of First Industrial's Dallas office and can be reached at 972-386-4700.

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.