Press Release


January 28, 2009

Toronto, Ontario (January 27, 2009) - First Capital Realty Inc. ("First Capital Realty") (TSX:FCR)invites you to participate at its live conference call with senior management announcing our 2008 yearend results on Friday, March 6, 2009 at 1:00 p.m. E.S.T.

Year end financial results will be released prior to the call and made available on First Capital Realty's website in the Pressroom section. The Supplemental Package link will be on our Home Page or click on Investor Relations, investor downloads.


You may participate in the live conference toll free at 866-299-6657 or at 416-641-6135. To ensure your participation, please call five minutes prior to the scheduled start of the call. The call will be archived through March 13, 2009 and can be accessed by dialing toll free 800-408-3053 or 416-695-5800 with access code 3281870.


To access the webcast, go to First Capital Realty's website at, and click on the link for the webcast at the bottom of our Home Page. The webcast will be archived on our Home Page for 30 days and can be accessed, thereafter, in our Conference Calls section of our website.
Management's presentation will be followed by a question and answer period. To ask a question, press (1) followed by (4) on a touch-tone phone. The conference call coordinator is immediately notified of all requests in the order in which they are made, and will introduce each questioner. To cancel your request, press (1) followed by (3). If you hang up, you can reconnect by dialing 866-299-6657 or 416-641-6135. For assistance at any point during the call, press (*0).


First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing metropolitan areas. The Company currently owns interests in 171 properties, including ten underdevelopment, totalling approximately 19.6 million square feet of gross leasable area and six land sites in the planning stage for future retail development. In addition, the Company owns 14.0 million shares ofEquity One (approximately 18%), one of the largest shopping centre REITS in the southern U.S., that trades on the New York Stock Exchange under the ticker symbol EQY. Including its investment in EquityOne, the Company has interests in 329 properties totalling approximately 35.6 million square feet of gross leasable area.

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For further information:
Dori J. Segal, President & C.E.O., or
Karen H. Weaver, Executive Vice President & C.F.O.
First Capital Realty Inc.
85 Hanna Ave., Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114
Fax: (416) 941-1655