First Trust BICK Index Fund (NASDAQ: BICK) (the “Fund”), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund II (the “Trust”), announced today that the Trust’s Board of Trustees has approved a reduction in the annual management fee payable to First Trust Advisors L.P. (“First Trust”) from 0.70% of the Fund’s average daily net assets to 0.64% of the Fund’s average daily net assets. First Trust will manage the investment of the Fund’s assets and will be responsible for the Fund’s expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution fees, if any, and extraordinary expenses. The reduction in the management fee will have no effect on the services provided to the Fund by First Trust and will be effective as of October 1, 2010.

The Fund seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the ISE BICK TM (Brazil, India, China, South Korea) Index (the “Index”). The Index is designed to provide a benchmark for investors interested in tracking some of the largest and most liquid public companies that are domiciled in Brazil, India, China (including Hong Kong) and South Korea that are accessible for investment by U.S. investors. The Index has been created to provide investors an opportunity to take advantage of both event-driven news and long-term economic trends as the economies of these countries continue to evolve.

First Trust has served as the Fund’s investment advisor since the Fund’s inception on April 12, 2010. First Trust, the Fund’s investment advisor, along with 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 approximately $32 billion as of August 31, 2010 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.