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First Trust Strategic High Income Fund Increases Monthly Distribution
First Trust Advisors, LP

Lisle, IL, October 20, 2005 -- First Trust Strategic High Income Fund (the
"Fund") (NYSE: FHI) today declared the Fund’s regularly scheduled monthly distribution, payable on November 15, 2005 to shareholders of record as of November 3, 2005. The ex-dividend date is expected to be November 1, 2005. The monthly distribution information for the Fund appears below.

First Trust Strategic High Income Fund (FHI)

Distribution per share: $0.1550
Distribution Rate based on the October 19, 2005 NAV of $19.11: 9.73%
Distribution Rate based on the October 19, 2005 closing market price of $18.80: 9.89%
Increase from the previous distribution of $.1542: 0.52%

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.

First Trust Advisors L.P. acts as the Fund’s investment advisor 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 Group, Inc.(“PNC ”).

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 June 30, 2005, which consists of one mutual fund, one money market fund, and separately managed accounts and trust assets. HLAM or its predecessors have been managing assets since 1967.

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