CARZ First Trust SNetwork Future Vehicles and Technology ETF II

First Trust Advisors L.P. (“First Trust”), the fastest growing Exchange-Traded Fund (“ETF”) sponsor among the ten largest sponsors (by assets raised) since 2010, announced today that Eric Anderson, Vice President, ETF Analyst, will ring the opening bell of The NASDAQ Stock Market at 9:30 a.m. Eastern Time on Friday, May 13, 2011, to celebrate the release of the first ETF focused on the global manufacturing of automobiles. First Trust executives and guests will participate in the event. The bell ringing will recognize the launch of the first automotive ETF in the industry, the First Trust NASDAQ Global Auto Index Fund (NASDAQ: CARZ), which began trading May 10, 2011. The Fund seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of the NASDAQ OMX Global Auto IndexSM, which is designed to track the performance of the largest and most liquid companies engaged in the manufacturing of automobiles.

First Trust believes the timely release of this automotive ETF recognizes the contributions of the automotive industry to the world economy and the millions of jobs it generates worldwide.

“First Trust’s introduction of the first global ETF focused on the automotive industry presents a new opportunity to invest in the global manufacturing of automobiles,” said Eric Anderson, Vice President, ETF Analyst, First Trust Advisors L.P. “Currently, the Fund's holdings represent nine countries around the world, weighted most heavily by Japan, Germany, the U.S., South Korea and France.”

To view the live webcast of the opening bell, visit the NASDAQ website (http://www.NASDAQ.com) at 9:25 a.m. (Eastern Time) on Friday, May 13, 2011.

About First Trust Advisors L.P.

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate First Trust Portfolios L.P., the Fund’s distributor, 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 approximately $50 billion as of April 30, 2011 through closed-end funds, unit investment trusts, exchange-traded funds, mutual funds and separate managed accounts. For more information, please visit www.ftportfolios.com.

Principal Risk Factors

You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. Contact First Trust Portfolios L.P. at 1-800-621-1675 or visit www.ftportfolios.com to obtain a prospectus and summary prospectus which contains this and other information about the Fund. The prospectus and summary prospectus should be read carefully before investing.

Risk Considerations

The Fund’s shares will change in value, and you could lose money by investing in the Fund. An investment in the Fund involves risks similar to those of investing in any fund of equity securities traded on exchanges. One of the principal risks of investing in the Fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value.

You should anticipate that the value of the shares will decline, more or less, in correlation with any decline in the value of the index. The Fund’s return may not match the return of the index. The Fund may not be fully invested at times. Securities held by the Fund will generally not be bought or sold in response to market fluctuations and the securities may be issued by companies concentrated in a particular industry, region or country. The Fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The Fund’s return may not match the return of the NASDAQ OMX Global Auto IndexSM. The Fund may not be fully invested at times. Securities held by the Fund will generally not be bought or sold in response to market fluctuations. The Fund is concentrated in stocks of companies in the automotive industry. You should be aware that an investment in a portfolio which is concentrated in a particular industry involves additional risks, including limited diversification. The automotive industry can be highly cyclical, and companies in the industry may suffer periodic operating losses. The industry can be significantly affected by labor relations and fluctuating component prices. While most of the major manufacturers are large, financially strong companies, may others are small and can be non-diversified in both product line and customer base.

An investment in a fund containing equity securities of foreign issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less developed, less liquid, less regulated, and more volatile than the U.S. and developed foreign markets.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Investors who sell fund shares may receive less than the share’s net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.

This Fund is classified as “non-diversified.” A non-diversified fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the fund may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

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