First Trust DB Strategic Value Index Fund Announces Termination of Index License in June 2010

fired1First Trust DB Strategic Value Index Fund (FDV) (the “Fund”), an exchange-traded index fund and series of First Trust Exchange-Traded Fund (the “Trust”), announced today that it has received a notice of termination of the license agreement to use and refer to the Index (as defined below) and associated marks in connection with the Fund, to be effective June 21, 2010. The Fund currently seeks investment results that correspond generally to the price and yield (before fees and expenses) of the Deutsche Bank CROCI(R) US+ Index(TM) (the “Index”). The Fund’s prospectus provides that upon a termination of the license agreement, the Board of Trustees of the Trust (the “Board”) will seek to engage a replacement index, if practicable. First Trust Advisors L.P. (“First Trust”), the Fund’s investment manager, is currently evaluating the impact of the termination of the license agreement on the Fund and will commence to seek an alternative index for the Fund to track as well as consider additional options for the Fund. There is no assurance that a suitable replacement index will be found.

As its investment objective, the Fund normally invests at least 90% of its assets in common stocks that comprise the Index. The Fund’s investment objective and the 90% investment strategy are non-fundamental policies and may be changed by the Board without shareholder approval upon 60 days’ prior written notice to shareholders.

First Trust, 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 over $25 billion as of November 30, 2009 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

You should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus, which contains this and other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

The Fund’s shares will change in value, and you could lose money by investing in the Fund. One of the principal risks of investing in the Fund is market risk. Market risk is the risk that a particular stock owned by the Fund, Fund shares or stocks in general may fall in value.

The Fund’s return may not match the return of the Index. The Fund may not be fully invested at times. Securities held by the Fund will generally not be bought or sold in response to market fluctuations and the securities may be issued by companies concentrated in a particular industry.

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. Shares may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the Fund by authorized participants, in very large creation/redemption units.

“Deutsche Bank” and “Deutsche Bank CROCI(R) US+ Index(TM)” are service marks of Deutsche Bank AG (“Deutsche Bank”). Deutsche Bank has no relationship to First Trust or the Fund, other than the licensing of the Index and its marks for use in connection with the Fund.

The Fund is classified as “non-diversified.” A non-diversified Fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the Fund may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.

This press release does not constitute an offer to sell or a solicitation to buy, 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.

SOURCE: First Trust DB Strategic Value Index Fund

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