December 12, 2012 at 16:55 PM EST
First Trust Enhanced Equity Income Fund Declares Quarterly Distribution of $0.225 Per Share

First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA) today declared its regularly scheduled quarterly distribution payable on December 31, 2012, to shareholders of record as of December 26, 2012. The ex-dividend date is expected to be December 21, 2012. The quarterly distribution information for the Fund appears below.

First Trust Enhanced Equity Income Fund (FFA):

Distribution per share: $0.225
Distribution rate based on the December 11, 2012 NAV of $13.47: 6.68%
Distribution rate based on the December 11, 2012 closing market price of $11.86: 7.59%

This distribution will consist of net investment income earned by the Fund and may also consist of return of capital and/or short-term realized capital gains. The final determination of the source and tax status of all distributions paid in 2012 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 and gains and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities.

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 $62 billion as of November 30, 2012, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Chartwell Investment Partners, L.P. (“Chartwell”) serves as the Fund’s investment sub-advisor and is an employee-owned investment firm focusing on institutional, sub-advisory, and private client relationships. The firm is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process. At November 30, 2012, Chartwell had approximately $5.1 billion in assets under management.

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: The Fund invests principally in equity securities and writes covered call options on a portion of those equity securities; accordingly the Fund’s NAV will fluctuate with changes in the Fund’s holdings. By writing call options on the equity securities held, the capital appreciation potential of the Fund’s equity securities is limited; however, the potential for capital depreciation remains unlimited. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Fund’s daily New York 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.

Contacts:

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