First Industrial Realty Trust Declares Common and Preferred Stock Dividends

CHICAGO, May 20 /PRNewswire-FirstCall/ -- First Industrial Realty Trust,
Inc. (NYSE: FR), a leading provider of industrial real estate supply chain
solutions, today announced that its board of directors declared a dividend of
$0.72 per share of common stock for the quarter ending June 30, 2008, payable
on July 21, 2008 to stockholders of record on June 30, 2008. This is
equivalent to an annual dividend of $2.88 per share.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/FRLOGO)
The board of directors also declared a dividend of $0.45313 per depositary
share of its 7.25% Series J Cumulative Redeemable Preferred Stock
(NYSE: FR-PrJ) for the quarter ending June 30, 2008 payable on June 30, 2008
to stockholders of record on June 13, 2008. This is equivalent to an annual
dividend of $1.8125 per depositary share.
Additionally, the board of directors declared a dividend of $0.45313 per
depositary share of its 7.25% Series K Cumulative Redeemable Preferred Stock
(NYSE: FR-PrK) for the quarter ending June 30, 2008, payable on June 30, 2008
to stockholders of record on June 13, 2008. This is equivalent to an annual
dividend of $1.8125 per depositary share.
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,
manage, and have under development 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 (including trade volume growth), 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 (including both
public and private capital), interest rate levels, competition, supply and
demand for industrial properties (including land, the supply and demand for
which is inherently more volatile than other types of industrial property) 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 and risks related to integrating international properties and
operations). We caution you not to place undue reliance on forward looking
statements, which reflect our analysis only and speak only as of the date of
this report or the dates indicated in the statements. We assume no obligation
to update or supplement forward-looking statements. 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.

Sean P. O'Neill, SVP, Investor Relations and Corporate Communications,
+1-312-344-4401, or Art Harmon, Director, Investor Relations and Corporate
Communications, +1-312-344-4320, both of First Industrial Realty Trust, Inc.