First Trust Advisors L.P. Announces Interim Advisory Contracts For Funds In The First Trust Fund Complex

First Trust Advisors L.P. (“FTA”), an investment advisor registered with the SEC, announced today that James A. Bowen, its President, acquired 100% of the voting stock of The Charger Corporation, the general partner of FTA (the “Transaction”). FTA is a limited partnership with one limited partner and one general partner (The Charger Corporation). The Transaction is not expected to impact the day-to-day operations of any of the Funds or FTA. The consummation of the Transaction is deemed to be an “assignment” (as defined in the Investment Company Act of 1940, as amended) of the investment management agreements and, if applicable, the investment sub-advisory agreements, for each Fund in the First Trust Fund Complex and resulted in the automatic termination of the agreements. The names of the Funds are set forth below.

The Board of Trustees of each Fund, except as described below, has approved an interim investment management agreement with FTA and, if applicable, an interim investment sub-advisory agreement, which were 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 with FTA and, if applicable, new investment sub-advisory agreements have been approved by the Board of Trustees of each Fund and will be submitted to shareholders of each Fund as of the record date (September 30, 2010) for approval and will take effect upon such shareholder approval. A special shareholder meeting of each Fund to vote on a proposal to approve the new investment management and, if applicable, the new investment sub-advisory agreement, is expected to be held in December, 2010.

FIRST TRUST CLOSED-END FUNDS		TICKER SYMBOL
Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund		MFD
First Trust/Four Corners Senior Floating Rate Income Fund II		FCT
Energy Income and Growth Fund		FEN
First Trust Enhanced Equity Income Fund		FFA
First Trust/Aberdeen Global Opportunity Income Fund		FAM
First Trust/FIDAC Mortgage Income Fund		FMY
First Trust Strategic High Income Fund		FHI
First Trust Strategic High Income Fund II		FHY
First Trust/Aberdeen Emerging Opportunity Fund		FEO
First Trust Strategic High Income Fund III		FHO
First Trust Specialty Finance and Financial Opportunities Fund		FGB
First Trust Active Dividend Income Fund		FAV
First Trust High Income Long/Short Fund		FSD
FIRST TRUST EXCHANGE-TRADED FUND		TICKER SYMBOL
First Trust Strategic Value Index Fund		FDV
First Trust Dow Jones Internet Index SM Fund		FDN
First Trust Dow Jones Select MicroCap Index SM Fund		FDM
First Trust ISE Chindia Index Fund		FNI
First Trust ISE-Revere Natural Gas Index Fund		FCG
First Trust ISE Water Index Fund		FIW
First Trust Morningstar ® Dividend Leaders SM Index Fund		FDL
First Trust NASDAQ-100 Equal Weighted Index SM Fund		QQEW
First Trust NASDAQ-100 Ex-Technology Sector Index SM Fund		QQXT
First Trust NASDAQ-100-Technology Sector Index SM Fund		QTEC
First Trust NASDAQ ® ABA Community Bank Index Fund		QABA
First Trust NASDAQ ® Clean Edge ® Green Energy Index Fund		QCLN
First Trust NYSE Arca Biotechnology Index Fund		FBT
First Trust S&P REIT Index Fund		FRI
First Trust US IPO Index Fund		FPX
First Trust Value Line ® 100 Exchange-Traded Fund		FVL
First Trust Value Line ® Dividend Index Fund		FVD
First Trust Value Line ® Equity Allocation Index Fund		FVI
FIRST TRUST EXCHANGE-TRADED FUND II
First Trust BICK Index Fund		BICK
First Trust Dow Jones Global Select Dividend Index Fund		FGD
First Trust STOXX ® European Select Dividend Index Fund		FDD
First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund		FFR
First Trust ISE Global Copper Index Fund		CU
First Trust ISE Global Engineering and Construction Index Fund		FLM
First Trust ISE Global Platinum Index Fund		PLTM
First Trust ISE Global Wind Energy Index Fund		FAN
First Trust NASDAQ ® Clean Edge ® Smart Grid Infrastructure Index Fund		GRID
FIRST TRUST EXCHANGE-TRADED ALPHADEX ® FUND
First Trust Consumer Discretionary AlphaDEX ® Fund		FXD
First Trust Consumer Staples AlphaDEX ® Fund		FXG
First Trust Energy AlphaDEX ® Fund		FXN
First Trust Financials AlphaDEX ® Fund		FXO
First Trust Health Care AlphaDEX ® Fund		FXH
First Trust Industrials/Producer Durables AlphaDEX ® Fund		FXR
First Trust Materials AlphaDEX ® Fund		FXZ
First Trust Technology AlphaDEX ® Fund		FXL
First Trust Utilities AlphaDEX ® Fund		FXU
First Trust Large Cap Core AlphaDEX ® Fund		FEX
First Trust Mid Cap Core AlphaDEX ® Fund		FNX
First Trust Small Cap Core AlphaDEX ® Fund		FYX
First Trust Large Cap Value Opportunities AlphaDEX ® Fund		FTA
First Trust Large Cap Growth Opportunities AlphaDEX ® Fund		FTC
First Trust Multi Cap Value AlphaDEX ® Fund		FAB
First Trust Multi Cap Growth AlphaDEX ® Fund		FAD
FIRST DEFINED PORTFOLIO FUND, LLC
Target Managed VIP Portfolio
The Dow ® DART 10 Portfolio
The Dow ® Target Dividend Portfolio
Global Dividend Target 15 Portfolio
S&P ® Target 24 Portfolio
NASDAQ ® Target 15 Portfolio
First Trust Target Focus Four Portfolio
Value Line ® Target 25 Portfolio

First Trust High Income Long/Short Fund completed its initial public offering on September 30, 2010 and approval by current shareholders of this Fund is not required.

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