First Trust Energy Income And Growth Fund Prices Public Offering Of 2,400,000 Common Shares

First Trust Energy Income and Growth Fund (the Fund ) (NYSE Amex: FEN) announced today the pricing of a public offering of common shares. The Fund agreed to sell a total of 2,400,000 common shares at a price to the public of $30.50 per share (exclusive of 360,000 common shares that the underwriters may purchase pursuant to a 45-day option to cover over-allotments). Net proceeds from the offering of approximately $70.3 million will be used to make additional portfolio investments that are consistent with the Fund’s investment objective and policies, and for general corporate purposes. The offering is scheduled to close on July 31, 2012.

Morgan Stanley, Citigroup and RBC Capital Markets are acting as joint book-running managers for the offering. Oppenheimer & Co. and Robert W. Baird & Co. are acting as co-lead managers for the offering. The offering is made pursuant to an existing shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus. Interested persons, including existing shareholders of the Fund, may obtain a copy of the prospectus supplement and accompanying base prospectus relating to the offering from the following addresses:
          Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649
 
Citigroup
Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th floor
Brooklyn, NY 11220
Telephone: 800-831-9146
 
RBC Capital Markets, LLC
Attn: Equity Syndicate Department
Three World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281
Telephone: 212-428-6670
Fax: 212-428-6260

Investors may also obtain these documents free of charge from the Securities and Exchange Commission’s website at www.sec.gov.

An investor should read the Fund’s prospectus supplement and accompanying base prospectus carefully before investing. The prospectus supplement and accompanying base prospectus contains important information about the Fund and its investment objective and policies, risks, charges and expenses.

This press release does not constitute an offer to sell or a solicitation to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. A registration statement relating to these securities was filed with, and has been declared effective by, the Securities and Exchange Commission.

The Fund is a non-diversified, closed-end management investment company which commenced investment operations in June 2004. The Fund’s investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund seeks to provide its common shareholders with an efficient vehicle to invest in a portfolio of cash-generating securities of publicly traded master limited partnerships (“MLPs”) and related public entities in the energy sector.

First Trust Advisors L.P., 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 and financial advisory services, with collective assets under management or supervision of approximately $54 billion as of June 30, 2012, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Energy Income Partners, LLC (“EIP”) serves as the Fund’s investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of June 30, 2012, EIP managed or supervised approximately $1.6 billion in client assets.

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