INVESTORS

CHICAGO, Feb 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, announced today the signing of its second build-to-suit agreement with Tractor Supply Company (Nasdaq: TSCO), the largest retail farm and ranch store chain in the United States. First Industrial will develop a 320,000 square- foot distribution center in Waco, Texas to accommodate Tractor Supply's rapidly growing business. Tractor Supply will use the facility to serve its retail stores in Texas and other Southwestern states.

First Industrial previously developed a 490,000 square-foot distribution center in Pendleton, IN, primarily to serve Tractor Supply's retail stores in the Midwest.

"First Industrial is pleased to have the opportunity to serve Tractor Supply's rapid growth," said David Harker, regional director for First Industrial. "A large part of our success has been repeat business with satisfied clients such as Tractor Supply. Our national development capability allows us to solve customer space needs anywhere in the country."

First Industrial is developing this facility through its corporate real estate program, Integrated Industrial Solutions(TM) (IIS(TM)), an integrated portfolio of services organized to provide Corporate America complete solutions to its industrial real estate needs, including: build-to-suit development, single tenant/user sales, sale-leaseback transactions, surplus property acquisition/redevelopment and industrial facility leasing.

For more information regarding First Industrial's development activities, contact Robert H. Muir, executive vice president of development services.

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