December 20, 2007 at 20:02 PM EST
First Trust Exchange-Traded Fund Series of Exchange-Traded Funds Announces Distributions

First Trust Exchange-Traded Fund (Trust), an open-end management investment company currently consisting of 17 exchange-traded funds, announced regular, quarterly and semi-annual distributions today for 10 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 Frequency Amount
FDM First Trust Dow Jones Select MicroCap Index(SM) Fund Semi-Annual $0.0890
FDL First Trust Morningstar(R) Dividend Leaders Fund Quarterly $0.2630
FPX First Trust IPOX-100 Index Fund Semi-Annual $0.0545
FDV First Trust DB Strategic Value Index Fund Semi-Annual $0.1155
FVI First Trust Value Line(R) Equity Allocation Index Fund Semi-Annual $0.1717
FRI First Trust S&P REIT Index Fund Semi-Annual $0.3750
FVD First Trust Value Line(R) Dividend Index Fund Quarterly $0.1253
FNI First Trust ISE Chindia Index Fund Semi-Annual $0.0155
FCG First Trust ISE-Revere Natural Gas Index Fund Semi-Annual $0.0230
FIW First Trust ISE Water Index Fund Semi-Annual $0.0445

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 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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