INVESTORS

CHICAGO, February 5, 1999 – First Industrial Realty Trust, Inc. (NYSE:FR) announced today the $4.7 million acquisition of a bulk-warehouse facility totaling 150,000 square feet in Baltimore, MD.

The property is located approximately one mile from the Baltimore Washington International Airport at 1328 Charwood Road and is First Industrial's second building in the Baltimore Commons Industrial Park. First Industrial's Regional Director Jeffrey Thomas and his team will manage the property.

First Industrial wishes acknowledge the assistance of Craig Morrell and Bob Smith of KLNB Inc. in consummating this transaction. Morrell and Smith were instrumental to the success of this transaction.

First Industrial Realty Trust, Inc. is a fully integrated, self-advised real estate company that owns and operates 71 million square feet of industrial real estate in the U.S. The Company's strategy is to create shareholder value through the operation of its national franchise, focusing on superior localized customer service, operational efficiencies, low-risk developments, and strategic and opportunity-driven acquisitions.