December 20, 2007 at 19:21 PM EST
First Trust Exchange-Traded AlphaDEX(TM) Fund Series of Exchange-Traded Funds Announces Distributions

First Trust Exchange-Traded AlphaDEXTM Fund (Trust), an open-end management investment company currently consisting of 16 exchange-traded funds, announced regular semi-annual distributions today for 14 exchange-traded funds (Funds) in the Trust.

The following dates apply to todays distribution declarations:

Expected Ex-Dividend Date December 21, 2007
Record Date December 26, 2007
Payable Date December 31, 2007
Ticker Fund Name Amount
FXG First Trust Consumer Staples AlphaDEX(TM) Fund $0.1120
FXD First Trust Consumer Discretionary AlphaDEX(TM) Fund $0.0540
FXN First Trust Energy AlphaDEX(TM) Fund $0.1170
FXR First Trust Industrials/Producer Durables AlphaDEX(TM) Fund $0.0220
FXZ First Trust Materials AlphaDEX(TM) Fund $0.0740
FXU First Trust Utilities AlphaDEX(TM) Fund $0.8000
FEX First Trust Large Cap Core AlphaDEX(TM) Fund $0.1630
FNX First Trust Mid Cap Core AlphaDEX(TM) Fund $0.0800
FYX First Trust Small Cap Core AlphaDEX(TM) Fund $0.0400
FTC First Trust Large Cap Growth Opportunities AlphaDEX(TM) Fund $0.1130
FTA First Trust Large Cap Value Opportunities AlphaDEX(TM) Fund $0.2520
FAD First Trust Multi Cap Growth AlphaDEX(TM) Fund $0.0320
FAB First Trust Multi Cap Value AlphaDEX(TM) Fund $0.1400
FXO First Trust Financials AlphaDEX(TM) Fund $0.2080

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 2007 distributions will be made after the end of 2007.

First Trust Advisors L.P. (FTA) and its affiliate First Trust Portfolios L.P. (FTP) 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 $33 billion through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

Whether its a value or growth idea, or a disciplined quantitative investment approach, FTA and FTP translate ideas into investment products which meet the various needs of their customers. FTA and FTP are focused on providing a diversified range of investment products and services to help maximize their customers financial opportunities.

You should consider the investment objectives, risks, charges and expenses of a Fund before investing. Prospectuses for the Funds contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.A prospectus should be read carefully before investing.

Principal Risk Factors: A Funds shares will change in value, and you could lose money by investing in a Fund. An investment in a Fund involves risk similar to those of investing in any fund of equity securities traded on exchanges. A Fund seeks investments results that correspond generally to the price and yield of an index. You should anticipate that the value of a Funds shares will decline, more or less, in correlation with any decline in the value of the index. A Funds return may not match the return of the index. A Fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

Investors buying or selling Fund shares on the secondary market may incur brokerage commissions. Investors who sell Fund shares may receive less than the shares net asset value. Unlike shares of open-end mutual funds, investors are generally not able to purchase Fund shares directly from the Fund and individual shares are not redeemable. However, specified large blocks of shares called creation units can be purchased from, or redeemed to, the Fund.

Contacts:

First Trust Exchange-Traded AlphaDEXTM Fund
Press Inquiries:
Jane Doyle, 630-241-8775
Analyst Inquiries:
Jeff Margolin, 630-915-6784
Broker Inquiries:
Jeff Margolin, 630-915-6784
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