Press Releases

FIRST CAPITAL REALTY ANNOUNCES CHANGE OF TIME FOR YEAR-END RESULTS CONFERENCE CALL

February 23, 2012

Toronto, Ontario (February 23, 2012) – First Capital Realty Inc. (“First Capital Realty” or the “Company”) (TSX: FCR) today announced a change to the previously scheduled time of its year-end results conference call. The call will be held earlier on the same day, at 9:00 a.m. (ET) on Friday, March 9, 2012.

First Capital Realty?s financial statements and MD&A for the year ended December 31, 2011 will be released prior to the call, and will be made available on the Company?s website at www.firstcapitalrealty.ca in the 'Investors' section, and on the Canadian Securities Administrators' website at www.sedar.com. First Capital Realty's Corporate Presentation will also be available on the Home Page of the Company's website.

Teleconference: You can participate in the live conference toll-free at 866-299-6657 or at 416-641-6135. In order to ensure your participation, please dial-in five minutes prior to the scheduled start time of the call. The call will be archived through March 23, 2012 and can be accessed by dialing toll free 800-408-3053 or 905-694-9451 with access code 2067474.

Webcast: To access the webcast, go to First Capital Realty's website at www.firstcapitalrealty.caand click on the link for the webcast on our home page. The webcast will be archived on our home page for 30 days and can be accessed thereafter in the 'Investors' section of our website, under 'Conference Calls'.

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'.

ABOUT FIRST CAPITAL REALTY (TSX: FCR)

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 167 properties, including ten under development, totalling approximately 23.2 million square feet of gross leasable area and three sites in the planning stage for future retail development.

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For further information:

Dori J. Segal, President & CEO, or

Karen H. Weaver, Executive Vice President & CFO
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114
www.firstcapitalrealty.ca

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