June 20, 2008 at 16:40 PM EDT
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 14 exchange-traded funds (Funds) in the Trust.

The following dates apply to todays distribution declarations:

Expected Ex-Dividend Date June 23, 2008
Record Date June 25, 2008
Payable Date June 30, 2008

Ticker

Exchange

Fund Name

Frequency

Amount

FDM

AMEX First Trust Dow Jones Select MicroCap Index(SM) Fund Semi-Annually $ 0.0611
FDL AMEX First Trust Morningstar(R) Dividend Leaders Index(SM) Fund Quarterly $ 0.2230
FPX AMEX First Trust IPOX-100 Index Fund Semi-Annually $ 0.0288
QQEW NASDAQ First Trust NASDAQ-100 Equal Weighted Index(SM) Fund Semi-Annually $ 0.0074
FBT AMEX First Trust Amex(R) Biotechnology Index Fund Semi-Annually $ 0.2697
FDN AMEX First Trust Dow Jones Internet Index(SM) Fund Semi-Annually $ 0.0366
FDV AMEX First Trust DB Strategic Value Index Fund Semi-Annually $ 0.1296
FVI AMEX First Trust Value Line(R) Equity Allocation Index Fund Semi-Annually $ 0.1125
FVD AMEX First Trust Value Line(R) Dividend Index Fund Quarterly $ 0.1156
QQXT NASDAQ First Trust NASDAQ-100 Ex-Technology Sector Index(SM) Fund Semi-Annually $ 0.0134
FRI AMEX First Trust S&P REIT Index Fund Semi-Annually $ 0.2103
FNI NYSE Arca First Trust ISE Chindia Index Fund Semi-Annually $ 0.1298
FCG NYSE Arca First Trust ISE-Revere Natural Gas Index Fund Semi-Annually $ 0.0383
FIW NYSE Arca First Trust ISE Water Index Fund Semi-Annually $ 0.0304

First Trust Advisors L.P., the Funds 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, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of over $34 billion as of May 31, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

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:
Eric Anderson, 630-322-7676
Broker Inquiries:
Jeff Margolin, 630-915-6784
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