September 21, 2010 at 09:05 AM EDT
First Trust Advisors Announces Approval of Interim Advisory Agreements for Exchange-Traded Funds

First Trust Advisors L.P. (“FTA”) announced today that it will enter into interim investment management agreements with First Trust Exchange-Traded Fund, First Trust Exchange-Traded Fund II and First Trust Exchange-Traded AlphaDEX® Fund (each, a “Trust” and collectively, the “Trusts”). FTA is the investment advisor to each portfolio (each, a “Fund” and together the “Funds”) of each Trust.

On August 24, 2010, James A. Bowen, President of FTA, entered into a stock purchase agreement to purchase 100% of the general partnership interest of FTA (the “Transaction”). The Transaction is scheduled to be completed in October 2010 and is subject to normal closing conditions. The consummation of the Transaction may be deemed to be an “assignment” (as defined in the Investment Company Act of 1940, as amended) of the investment management agreement between each Trust and FTA, which would result in the automatic termination of the agreements. The Board of Trustees of each Trust has approved the interim investment management agreements, which will be entered into effective upon the closing of the Transaction and will be in effect for a maximum period of 150 days. New investment management agreements will be submitted to shareholders of each Fund for approval and would take effect upon such shareholder approval. The new agreements will be substantially similar to each Trust’s current agreement and the Transaction will not impact the day-to-day operations of any of the Funds. A special shareholder meeting of each Fund to vote on a proposal to approve the new investment management agreements is expected to be held later this year. There can be no assurance that the necessary percentage of the shareholders of the Funds will vote to approve the new investment management agreements.

FTA and its affiliate First Trust Portfolios L.P. are privately-held companies which provide a variety of investment services, including asset management, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of over $32 billion as of August 31, 2010 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

You should consider the investment objectives, risks, charges and expenses of a Fund before investing. Prospectuses for the Funds contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.A prospectus should be read carefully before investing.

TickerExchangeFund Name
First Trust Exchange-Traded Fund
FDV NYSE Arca First Trust Strategic Value Index Fund
FDN NYSE Arca First Trust Dow Jones Internet IndexSM Fund
FDM NYSE Arca First Trust Dow Jones Select MicroCap IndexSM Fund
FNI NYSE Arca First Trust ISE Chindia Index Fund
FCG NYSE Arca First Trust ISE-Revere Natural Gas Index Fund
FIW NYSE Arca First Trust ISE Water Index Fund
FDL NYSE Arca First Trust Morningstar® Dividend LeadersSM Index Fund
FBT NYSE Arca First Trust NYSE Arca Biotechnology Index Fund
FRI NYSE Arca First Trust S&P REIT Index Fund
FPX NYSE Arca First Trust US IPO Index Fund
FVL NYSE Arca First Trust Value Line® 100 Exchange-Traded Fund
FVD NYSE Arca First Trust Value Line® Dividend Index Fund
FVI NYSE Arca First Trust Value Line® Equity Allocation Index Fund
QQEW NASDAQ First Trust NASDAQ-100 Equal Weighted IndexSM Fund
QQXT NASDAQ First Trust NASDAQ-100 Ex-Technology Sector IndexSM Fund
QTEC NASDAQ First Trust NASDAQ-100-Technology Sector IndexSM Fund
QABA NASDAQ First Trust NASDAQ® ABA Community Bank Index Fund
QCLN NASDAQ First Trust NASDAQ® Clean Edge® Green Energy Index Fund
First Trust Exchange-Traded Fund II
FGD NYSE Arca First Trust Dow Jones Global Select Dividend Index Fund
FDD NYSE Arca First Trust Dow Jones STOXX® European Select Dividend Index Fund
FFR NYSE Arca First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund
FLM NYSE Arca First Trust ISE Global Engineering and Construction Index Fund
FAN NYSE Arca First Trust ISE Global Wind Energy Index Fund
BICK NASDAQ First Trust BICK Index Fund
CU NASDAQ First Trust ISE Global Copper Index Fund
PLTM NASDAQ First Trust ISE Global Platinum Index Fund
GRID NASDAQ First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
First Trust Exchange-Traded AlphaDEX® Fund
FXD NYSE Arca First Trust Consumer Discretionary AlphaDEX® Fund
FXG NYSE Arca First Trust Consumer Staples AlphaDEX® Fund
FXN NYSE Arca First Trust Energy AlphaDEX® Fund
FXO NYSE Arca First Trust Financials AlphaDEX® Fund
FXH NYSE Arca First Trust Health Care AlphaDEX® Fund
FXR NYSE Arca First Trust Industrials/Producer Durables AlphaDEX® Fund
FXZ NYSE Arca First Trust Materials AlphaDEX® Fund
FXL NYSE Arca First Trust Technology AlphaDEX® Fund
FXU NYSE Arca First Trust Utilities AlphaDEX® Fund
FEX NYSE Arca First Trust Large Cap Core AlphaDEX® Fund
FNX NYSE Arca First Trust Mid Cap Core AlphaDEX® Fund
FYX NYSE Arca First Trust Small Cap Core AlphaDEX® Fund
FTA NYSE Arca First Trust Large Cap Value Opportunities AlphaDEX® Fund
FTC NYSE Arca First Trust Large Cap Growth Opportunities AlphaDEX® Fund
FAB NYSE Arca First Trust Multi Cap Value AlphaDEX® Fund
FAD NYSE Arca First Trust Multi Cap Growth AlphaDEX® Fund

Contacts:

First Trust Advisors L.P.
Eric Anderson (630) 517-7676
or
Ryan Issakainen (630) 765-8689
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