INVESTORS

Lower Spread And New Five-Year MaturityCHICAGO, Oct 01, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading provider of industrial real estate supply chain solutions, today announced that it has renewed its senior unsecured revolving credit facility. The new facility provides balance sheet borrowing capacity up to $500 million that may be increased to $700 million, subject to certain conditions. Up to $100 million of the $500 million capacity may be borrowed on balance sheet in foreign currencies, including the euro and the Canadian dollar.

Under the new facility, which replaces previous line of credit agreements, the interest rate has been reduced to LIBOR plus 47.5 basis points, a 15 basis point decrease. The maturity date has been extended to September 2012.

"The new credit facility gives First Industrial added balance sheet strength and flexibility," said Mike Havala, chief financial officer. "We were very pleased to reduce our credit spread and lengthen our maturity to five years, especially given the current credit environment. The facility also supports our investment strategy in The Netherlands, Belgium and Canada by providing borrowing capacity in the euro and the Canadian dollar."

JPMorgan Chase Bank, N.A. acted as the administrative agent and Wachovia Bank, National Association acted as the syndication agent for the five-year senior unsecured revolving credit facility. Regions Bank and U.S. Bank, N.A. were the documentation agents and Comerica Bank, PNC Bank, N.A., and Wells Fargo Bank acted as co-agents.

"We would like to extend our thanks to our bank group for their interest and participation in our new facility," said Scott Musil, chief accounting officer, treasurer and assistant secretary.

First Industrial Realty Trust, Inc. (NYSE: FR) provides industrial real estate solutions for every stage of a customer's supply chain, no matter how large or complex. Across more than 30 markets in the United States, Canada, The Netherlands and Belgium, our local market experts buy, (re)develop, lease, manage and sell industrial properties, including all of the major facility types -- R&D/flex, light industrial, manufacturing, and regional and bulk distribution centers. We continue to receive leading customer service scores from Kingsley Associates, an independent research firm, and in total, we own and manage more than 100 million square feet of industrial space. For more information, please visit us at http://www.firstindustrial.com.

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: national, international, regional and local economic conditions generally and real estate markets specifically, legislation/regulation (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, changes in general accounting principles, policies and guidelines applicable to real estate investment trusts, and risks related to doing business internationally (including foreign currency exchange risks). 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.