Press Releases

FIRST CAPITAL REALTY’S ANNUAL SHAREHOLDERS’ MEETING

May 21, 2008

Toronto, Ontario (May 21, 2008) – First Capital Realty Inc. (“First Capital Realty”) (TSX:FCR) Canada’s leading owner, developer and operator of supermarket and drugstore-anchored neighbourhood and community shopping centres located predominantly in growing metropolitan areas, will hold its Annual Shareholders’ Meeting at 1:00 pm ET on Thursday May 22, 2008 at the Design Exchange, 234 Bay Street, Toronto Ontario.

For those unable to attend the meeting in person, a live webcast of the meeting and managements’ presentations will be provided. Please access the link on the Company’s website at www.firstcapitalrealty.ca. The webcast will also be archived on the Company’s website following the meeting.

ABOUT FIRST CAPITAL REALTY (TSX:FCR)

First Capital Realty is Canada’s leading owner, developer and operator of supermarket and drugstoreanchored neighbourhood and community shopping centres, located predominantly in growing metropolitan areas. The Company currently owns interests in 164 properties, including eight under development, totalling approximately 19.4 million square feet of gross leasable area and 12 land sites in the planning stage for future retail development. In addition, the Company owns 14 million shares of Equity One (approximately 19%), 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 Equity One, the Company has interests in 329 properties totalling approximately 36.5 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, C.F.O.
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114
Fax: (416) 941-1655
www.firstcapitalrealty.ca

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