Press Release

FIRST CAPITAL REALTY WINS THREE INTERNATIONAL ANNUAL REPORT AWARDS


September 23, 2009

Toronto, Ontario (September 23, 2009) – First Capital Realty Inc. (“First Capital Realtyâ€) (TSX:FCR)Canada’s leading owner, developer and operator of supermarket and drugstore-anchored neighbourhoodand community shopping centres located predominantly in growing metropolitan areas, announced todaythat the Company’s 2008 Annual Report had earned three international annual report awards at the 23rdannual International ARC Awards held in New York earlier this month. First Capital Realty received aGold Medal for its Overall Annual Report, Silver for Interior Design, and Silver for Printing andProduction, all in the Public Real Estate category.

The ARC Awards, sponsored by MerComm, Inc., is an international Annual Reports Competition whichhonors excellence in annual reports and is considered the "Academy Awards" for the industry.

ABOUT FIRST CAPITAL REALTY (TSX:FCR)

First Capital Realty is Canada’s leading owner, developer and operator of supermarket and drugstoreanchoredneighbourhood and community shopping centres, located predominantly in growingmetropolitan areas. The Company currently owns interests in 175 properties, including four underdevelopment, totalling approximately 20.5 million square feet of gross leasable area and 7 land sites in theplanning stage for future retail development.

For further information regarding First Capital Realty:
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
www.firstcapitalrealty.ca