The diluted net income for Q4 was $1.66 per common share,compared to $1.00 in Q4 2007. The REIT posted a net loss of $67.4million in the final quarter, compared to a net income of $48.3million. During this quarter, First Industrial completed $23.6million in acquisitions, sold $24.3 million of properties; andthrough joint ventures made $19.4 million of acquisitions and $32.9million of dispositions.

At year end, common shares were $0.50, compared to $2.99 pershare in 2007.

"The First Industrial team delivered solid portfolio results in2008, maintaining strong tenant retention and in-service occupancylevels throughout the year," says Bruce Duncan, president and CEO,who was just appointed to his position in January."In this difficult economic climate, we are intensely focused onoccupancy for our entire portfolio of existing and value-addproperties. We are also restructuring our organization as part ofour plan to improve our operational efficiency and right-size ourcost structure."