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First Trust/Four Corners Sr. Floating Rate Income Fund II
Increases Monthly Common Share Distribution
First Trust Advisors, LP

Lisle, IL, October 20, 2005 -- First Trust/Four Corners Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution for November of $0.1075 per share. This is a $0.005 per share (4.9%) increase from the previous month’s
distribution of $0.1025 per share.

Based on the Fund ’s net asset value of $18.99 and New York Stock Exchange closing price of $16.73 on October 19th, respectively, the Fund’s regular distribution equates to an annualized distribution rate of 6.79% at
NAV and an annualized distribution rate of 7.71% at market price. The distribution will be payable on November 15, 2005 to shareholders of record November 3, 2005, with an expected ex-dividend date of November 1, 2005.

The majority 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. The final determination of the source and tax
status of all distributions paid in 2005 will be made after the end of 2005.

The Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. As a secondary objective, the Fund will attempt to preserve capital. The Fund pursues these investment objectives by investing in senior secured U.S. dollar-denominated floating-rate corporate loans.

View more information on First Trust Advisors, LP or other Closed-End Funds.