First Trust Morningstar(R) Dividend Leaders(SM) Index Fund Declares Quarterly Distribution of $0.20 Per Share

  
    
  
  
    
      First Trust Morningstar® 
      Dividend LeadersSM Index Fund (the “Fund”) 
      (AMEX:FDL) today declared its regularly scheduled quarterly distribution 
      of $0.20 per share payable on June 29, 2007 to shareholders of record as 
      of June 25, 2007. The ex-dividend date is expected to be June 21, 2007. 
      The quarterly distribution information for the Fund appears below.
    
    
      
        
          First Trust Morningstar(R) Dividend Leaders(SM) Index Fund (FDL):
        
      
      
        
          Distribution per share:
        
        
          $
        
        
          0.20 
        
      
      
        
          Distribution Rate based on the June 19, 2007 NAV of $24.51:
        
        
        
        
          3.26%
        
      
      
        
          Distribution Rate based on the June 19, 2007 closing market price of 
          $24.49:
        
        
        
        
          3.27%
        
      
    
    
    
    
      The final determination of the source and tax status of all 
      distributions paid in 2007 will be made after the end of 2007.
    
    
      The Fund is a series of the First Trust Exchange-Traded Fund, an 
      investment company and an exchange-traded “index 
      fund” designed to seek investment results 
      that correspond generally to the price and yield (before the Fund’s 
      fees and expenses) of an equity index called the Morningstar® 
      Dividend LeadersSM Index.
    
    
      First Trust Advisors L.P. acts as the fund’s 
      investment adviser and currently manages or supervises approximately $32 
      billion in assets.
    
    
      Past performance is no assurance of future results. Investment return 
      and market value of an investment in the Fund will fluctuate. Shares, 
      when sold, may be worth more or less than their original cost.
    
    
      Principal Risk Factors: An investment in the Fund involves risks similar 
      to those of investing in any Fund of equity securities traded on an 
      exchange. The Fund is concentrated in stocks of a given industry if the 
      Morningstar® 
      Dividend LeadersSM Index is concentrated in 
      such industry. You should be aware that an investment in a portfolio 
      which is concentrated in a particular industry involves additional 
      risks, including limited diversification. Investors buying or selling 
      Fund shares on the secondary market may incur brokerage commissions. In 
      addition, investors who sell Fund shares may receive less than the share’s 
      net asset value. Please see the Fund’s 
      prospectus for additional information on the risks of investing in the 
      Fund.
    
    
      The Fund’s daily American Stock Exchange 
      closing price and net asset value per share as well as other information 
      can be found at www.ftportfolios.com 
      or by calling 1-800-988-5891.