First Trust BICK Index Fund Decreases Its Investment Management Fee

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.

Past performance is no assurance of future results. Principal Risk Factors: The Fund’s shares will change in value, and you could lose money by investing in the Fund. An investment in the Fund involves risk similar to those of investing in any fund of equity securities traded on exchanges. the Fund seeks investment results that correspond generally to the price and yield of the Index. You should anticipate that the value of the Fund’s shares will decline, more or less, in correlation with any decline in the value of the Index. The Fund’s return may not match the return of the Index. Unlike the Fund, the Index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by the Fund. The Fund invests in securities of issuers in Brazil, India, China (including Hong Kong) and South Korea, which are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments. An investment in particular geographic regions may be particularly susceptible to changes in the political, diplomatic and economic conditions of those regions or any new regulatory requirements of those regions. The Fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies. The risks of investing in the Fund are spelled out in its prospectus, shareholder report, and other regulatory filings.

Investors buying or selling Fund shares on the secondary market may incur brokerage commissions. Investors who sell Fund shares may receive less than the share’s net asset value. Unlike shares of open-end mutual funds, investors are generally not able to purchase Fund shares directly from the Fund and individual shares are not redeemable. However, specified large blocks of shares called “creation units” can be purchased from, or redeemed to, the Fund.

The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of the fund. The Fund’s daily closing price and net asset value per share as well as other information can be found at www.ftportfolios.com. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. For a copy of the prospectus and summary prospectus which contain this and other information about the Fund, call First Trust at 1-800-621-1675. Please read the prospectus and summary prospectus carefully before investing.

Copyright Business Wire 2010

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