FIRST CAPITAL REALTY ANNOUNCES NEW SENIOR EXECUTIVE APPOINTMENT

TORONTO, May 17 /CNW/ - 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, today announced that Mr. Gordon Driedger will join the Company's management team as Senior Vice President, Central Canada. First Capital's central region consists of 65 properties in Ontario, totalling $2.0 billion of investment comprising 9.8 million square feet GLA, as well as numerous development and redevelopment projects and sites. Mr. Driedger will start with First Capital on June 20, 2011.

Prior to joining First Capital Realty, Mr. Driedger was most recently Vice President, Corporate Real Estate of BMO Financial Group. He has over 20 years experience in real estate management and development, including senior real estate positions at Sobeys and Canadian Tire. In addition, he has worked in various capacities on large land development projects including high density residential.

"We welcome Gordon to our Management team and look forward to his leadership in executing and growing our Central Canada business," stated Dori J. Segal, President & CEO.

"I am very much looking forward to working with such an exciting portfolio of real estate assets and development properties in addition to such a high quality team of real estate professionals", Mr. Driedger said.

Mr. Jamie Chisholm, the current Vice President, Central Canada, has decided to leave the Company on May 31, 2011 to pursue other interests. First Capital Realty thanks Jamie for his leadership and contributions to Central Canada over the past four years and wishes him well in his future pursuits.

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 163 properties, including three under development, totalling approximately 22.4 million square feet of gross leasable area and seven sites in the planning stage for future retail development.

SOURCE First Capital Realty Inc.

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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