FDM First Trust Dow Jones Select Microcap Index Fund

First Trust Dow Jones Select MicroCap IndexSM Fund (the �Fund�) (AMEX:FDM) today declared its regularly scheduled semi-annual distribution of $.046 per share. The dividend will be payable on June 29, 2007 to shareholders of record as of June 25, 2007 with an expected ex-dividend date of June 21, 2007. The final determination of the source and tax status of all distributions paid in 2007 will be made after the end of 2007. The Fund is a series of the First Trust Exchange-Traded Fund, an investment company and an exchange-traded �index fund� designed to seek investment results that correspond generally to the price and yield (before the Fund�s fees and expenses) of an equity index called The Dow Jones Select MicroCap IndexSM. First Trust Advisors L.P. acts as the fund�s investment adviser and currently manages or supervises approximately $32 billion in assets. 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: An investment in the Fund involves risks similar to those of investing in any Fund of equity securities traded on exchanges. The Fund will invest in micro-capitalization companies. Such companies may be more vulnerable to adverse general market or economic developments, may be less liquid, and may experience greater price volatility than larger, more established companies. Investors buying or selling Fund shares on the secondary market may incur brokerage commissions. In addition, investors who sell Fund shares may receive less than the share�s net asset value. Please see the Fund�s prospectus for additional information on the risks of investing in the Fund. The Fund�s daily American Stock Exchange closing 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.