First Trust Active Dividend Income Fund Declares Its Quarterly Distribution of $0.18 Per Share

First Trust Active Dividend Income Fund (the "Fund") (NYSE: FAV) has declared its regularly scheduled quarterly distribution payable on July 31, 2012 to shareholders of record as of July 24, 2012. The ex-dividend date is expected to be July 20, 2012. The quarterly distribution information for the Fund appears below.

First Trust Active Dividend Income Fund (FAV):

Distribution per share: $0.18
Distribution Rate based on the July 11, 2012 NAV of $8.83: 8.15%
Distribution Rate based on the July 11, 2012 closing market price of $7.81: 9.22%

The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all 2012 distributions will be made after the end of 2012.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide capital appreciation. The Fund pursues these investment objectives by investing at least 80% of its Managed Assets in a diversified portfolio of dividend-paying multi-cap equity securities of both U.S. and non-U.S. issuers that the Fund’s investment sub-advisor believes offer the potential for attractive income and/or capital appreciation.

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.

Aviance Capital Management, LLC, (“Aviance”), the Fund’s investment sub-advisor, focuses on managing multi-cap value and growth portfolios.

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: Investment in this Fund involves investment and market risk; management risk; sub-advisor risk; value investing risk; dividend strategy risk; qualified dividend tax risk; equity securities risk; small and medium cap company risk; non-U.S. securities risk; and emerging markets risk.

On June 18, 2012, the Fund announced modifications to the current investment strategy to include utilization of an option overlay strategy, which will commence on August 20, 2012. By writing call options on equity securities held, the capital appreciation potential of the equity securities is limited; however, the potential for capital depreciation is unlimited. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Fund’s daily closing New York Stock Exchange 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.

Contacts:

First Trust Active Dividend Income Fund
Press Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784
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