Funds from operations (FFO) attributable to common stockholders and unitholders totaled $33.1 million, or $0.16 per diluted share, for the first quarter of 2009, compared with $30.1 million, or $0.15 per diluted share, reported for the first quarter of 2008.

Net income attributable to common stockholders for the first quarter of 2009 was $3.8 million, or $0.02 per diluted share, compared with net income of $0.4 million, or $0.00 per diluted share, reported for the first quarter of 2008. First quarter 2009 FFO and net income include gains on the sale of land of $0.02 per diluted share, which compares to $0.00 per diluted share of gains related to the contribution or sale of real estate included in the first quarter of 2008.

Balance Sheet

DCT's balance sheet remains strong, with consolidated debt to book value of total assets (before depreciation and amortization) of 38.4% as of March 31, 2009, flat when compared to December 31, 2008. The Company's fixed charge coverage for the first quarter of 2009 was 3.1 times.

Operating Portfolio

As of March 31, 2009, DCT(TM) owned 373 consolidated operating properties, or 52.1 million square feet. Net operating income was $45.5 million in the first quarter of 2009, compared with $45.8 million reported for the first quarter of 2008. DCT's consolidated operating portfolio occupancy was 89.8% as of March 31, 2009, compared with 93.0% as of March 31, 2008. Including an additional 15.0 million square feet of operating properties held in joint ventures, occupancy as of March 31, 2009 was 91.4%, compared with 94.2% as of March 31, 2008.

First quarter 2009 same store net operating income declined 2.5% on a cash basis and 5.1% on a GAAP basis, excluding lease termination fees, when compared to the same period last year. Lease termination fees were $1.4 million in the first quarter of 2009, compared with $0.1 million in the first quarter of 2008. Occupancy of same store properties was 89.9% as of March 31, 2009, compared with 92.7% as of March 31, 2008.

Leasing activity was in line with prior quarters, with 2.5 million square feet of leases signed during the first quarter, including 0.6 million square feet of development leases. Tenant retention was 66.4% for the first quarter of 2009, while rents on signed leases for which there was a prior tenant decreased by 7.1% on a GAAP basis and 11.0% on a cash basis in the first quarter of 2009.

"The current environment is clearly very competitive, and we expect it to remain so for quite some time given the state of the economy," commented Phil Hawkins, Chief Executive Officer of DCT Industrial Trust. "However, first quarter operating leasing activity of 1.9 million square feet was slightly higher than first quarter 2008 activity, and April leasing activity of 1.0 million square feet is encouraging. While occupancy in our consolidated operating portfolio declined to 89.8%, this decline was consistent with our expectations and guidance given last quarter. We are fortunate to have a high-quality portfolio, proven operating platform and strong balance sheet, which will continue to serve us well in this tough market."

Dispositions and Capital Deployment Activity

During the first quarter of 2009, Stirling Capital Investments, DCT's development joint venture at SCLA (Southern California Logistics Airport), sold 53 acres of land to Dr Pepper Snapple Group, Inc., a beverage producer that markets more than 50 products, including 7UP, Canada Dry, and Schweppes, and many other well-known brands. The joint venture has 207 acres in Phase I held for future development or sale, with development rights to approximately 4,000 additional acres.

As of March 31, 2009, DCT had 7.7 million square feet under development, which includes 1.9 million square feet in a 50-50 development joint venture.

Dividend

DCT Industrial Trust's Board of Directors has declared an $0.08 per share quarterly cash dividend, payable on July 17, 2009, to stockholders of record as of July 8, 2009.

Guidance

DCT reiterated guidance for 2009 FFO of $0.50 to $0.58 per diluted share and updated 2009 net income guidance to $(0.05) to $0.03 per diluted share, which includes gains on sale of undepreciated real estate ranging from $0.02 to $0.04 per diluted share.

Conference Call Information

DCT(TM) will host a conference call to discuss first quarter 2009 results and its recent business activities on Friday, May 8, 2009 at 10:00 a.m. Eastern time. Stockholders and interested parties may listen to a live broadcast of the conference call by dialing (800) 860-2442 or (412) 858-4600. A telephone replay will be available for one week following the call by dialing (877) 344-7529 or (412) 317-0088 and entering the passcode 429309. A live webcast and replay of the conference call will be available in the investor relations section of the DCT(TM) website at http://www.dctindustrial.com/.

Supplemental information will be available in the Investor Relations section of the Company's website at http://www.dctindustrial.com/ or by e-mail request at investorrelations@dctindustrial.com. Interested parties may also obtain supplemental information from the SEC's website at http://www.sec.gov/.

About DCT Industrial Trust

DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of March 31, 2009, the Company owned, managed or had under development 75.9 million square feet of assets leased to approximately 850 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at http://www.dctindustrial.com/.

                   DCT INDUSTRIAL TRUST INC.