PRESS RELEASE                                 SOURCE:  First Trust Advisors L.P.

FIRST TRUST ADVISORS L.P. ANNOUNCES PORTFOLIO MANAGER UPDATE CALL FOR FIRST
TRUST STRATEGIC HIGH INCOME FUND, FIRST TRUST STRATEGIC HIGH INCOME FUND II AND
FIRST TRUST STRATEGIC HIGH INCOME FUND III

WHEATON, IL - (BUSINESS WIRE) - July 6, 2010 - First Trust Advisors L.P. ("FTA")
announced today that First Trust Strategic High Income Fund (NYSE: FHY); First
Trust Strategic High Income Fund II (NYSE: FHI); First Trust Strategic High
Income Fund III (NYSE: FHO) intend to host a conference call with Brookfield
Investment Management, Inc. ("Brookfield"), the Funds' investment sub-advisor,
on Tuesday, July 20, 2010, at 4:15 P.M. Eastern Time. The purpose of the call is
to hear Brookfield's portfolio management team provide updates for the Funds.

--  Dial-in Number: (866) 865-6631; International (706) 679-1727; and Passcode
    # 83964022. Please call 10 to 15 minutes before the scheduled start of the
    teleconference.

--  Telephone Replay: (800) 642-1687; International (706) 645-9291; and
    Passcode # 83964022. The replay will be available after the call until 11:59
    P.M. Eastern Time on Thursday, August 19, 2010.

FTA has served as each Fund's investment advisor since each Fund's inception.
FTA, 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 $29
billion as of May 31, 2010 through closed-end funds, unit investment trusts,
mutual funds, separate managed accounts and exchange-traded funds.

If you have questions about the Funds that you would like answered on the call,
please email your questions to cefquestions@ftadvisors.com and refer to
Brookfield. Each Fund's daily closing price and net asset value per share as
well as other information can be found at www.ftportfolios.com or by calling
(800) 988-5891.


CONTACT: JEFF MARGOLIN - (630) 915-6784

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Source:  First Trust Advisors L.P.