First Trust Strategic High Income Fund Increases Its Monthly Distribution for December to $0.16 Per Share.LISLE, Ill. -- First Trust Strategic High Income Fund (the "Fund") (NYSE NYSE See: New York Stock Exchange :FHI FHI Family Health International FHI Fuji Heavy Industries Ltd FHI Food for the Hungry International FHI Florida Hydrogen Initiative, Inc. (Tallahassee, Florida) ) today declared the Fund's regularly scheduled monthly distribution, payable on December 12, 2005 to shareholders of record as of December 5, 2005. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is expected to be December 1, 2005. The monthly distribution information for the Fund appears below. First Trust Strategic High Income Fund (FHI): --------------------------------------------- Distribution per share:..........................................$0.16 Distribution Rate based on the November 18, 2005 NAV of $19.04:......................................................10.08% Distribution Rate based on the November 18, 2005 closing market price of $18.67:.........................................10.28% Increase from the previous distribution of $.1550:...............3.23% The Fund is a 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 growth. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a diversified portfolio of high income producing securities that the sub-adviser believes offer attractive yield and capital appreciation potential. The fund does not employ leverage. 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 distributions paid in 2005 will be made after the end of 2005. First Trust Advisors L.P. acts as the Fund's investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and currently manages or supervises approximately $21 billion in assets. Hilliard Lyons Asset Management ("HLAM") is the Fund's sub-adviser. HLAM is a division of J.J.B. Hilliard, W.L. Lyons, Inc., which is an indirect wholly-owned subsidiary of The PNC Financial Services PNC Financial Services (NYSE: PNC) is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving Group, Inc. ("PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress "). PNC, a publicly-held financial holding company, provides commercial and retail banking and other financial services in the areas of investment banking, asset management, mutual funds, trusts, securities brokerage, insurance, leasing, and mortgage banking. HLAM serves as investment adviser or sub-adviser to approximately $4.8 billion in assets as of September 30, 2005, which consists of two mutual funds, one money market fund, and separately managed accounts and trust assets. HLAM or its predecessors have been managing assets since 1967. 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, value investing Value Investing The strategy of selecting stocks that trade for less than their intrinsic value. Value investors actively seek stocks of companies with sound financial statements that they believe the market has undervalued. risk, below-investment grade securities risk, fixed-income securities Fixed-income securities Investments that have specific interest rates, such as bonds. risk, mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. risk, asset-backed securities risk, convertible securities risk, municipal securities risk, foreign securities risk, foreign government securities risk, equity securities risk, currency risk, distressed securities risk, preferred stock risk, inflation/deflation risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. The Fund's daily closing New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. 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. |
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