New Community Bank ETF – “QABA” – Begins Trading on the NASDAQ®

The First Trust NASDAQ� ABA� Community Bank Index Fund (NASDAQ: QABA) began trading today on the NASDAQ�. It is an exchange-traded fund (ETF) that focuses on NASDAQ� listed community banks. First Trust Advisors L.P. (�First Trust�) is the investment advisor for the ETF.

QABA seeks investment results that correspond generally to the price and yield (before the fund�s fees and expenses) of the NASDAQ OMX�ABA� Community Bank IndexSM (NASDAQ: ABQI). The Index provides a benchmark for investors interested in tracking the performance of a subset of all NASDAQ� listed banks and thrifts or their holding companies that are designated as community banks by the American Bankers Association according to the Index methodology.

�It is exciting for First Trust to bring to market our community bank ETF because community banks play a major role in the nation�s economic system,� said Robert Carey, CFA, and Chief Investment Officer of First Trust. �QABA will allow investors to track the stocks of community banks, which have long been the primary source of capital for local communities, providing investors with a new opportunity to invest in the financial sector,� he continued.

About First Trust Advisors L.P.

Based in Wheaton, Illinois, First Trust Advisors L.P., and 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 $19 billion as of May 31, 2009 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

For more information, please visit www.ftportfolios.com.

About the NASDAQ OMX� ABA� Community Bank IndexSM

The NASDAQ OMX� ABA� Community Bank IndexSM (the �Index�) is jointly owned and was developed by NASDAQ OMX� and the American Bankers Association. The Index is rebalanced quarterly and reconstituted semi-annually. The Index is calculated and maintained by NASDAQ OMX�. For purposes of the Index, a �community bank� is considered to be all U.S. banks and thrifts or their holding companies listed on NASDAQ�, excluding the 50 largest U.S. banks by asset size. Also excluded are banks that have an international specialization and those banks that have a credit-card specialization, as screened by the American Bankers Association based on the most recent data from the Federal Deposit Insurance Corporation. A security must also have a market capitalization of at least $200 million and a three-month average daily dollar trading volume of at least $500 thousand and must meet certain operating history, solvency, and financial statement requirements. As of June 8, 2009, there were 96 securities that comprised the Index.

Principal Risk Factors

An investor should consider the fund�s investment objectives, risks, charges and expenses carefully before investing. For a copy of the prospectus which contains this and other information about the fund, call First Trust at 1-800-621-1675. Please read the prospectus carefully before investing.

RISKS

The fund�s shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value.

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. The fund may invest in small-cap and mid-cap companies. Such companies may experience greater price volatility than larger, more established companies.

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.

The fund is concentrated in the securities of community banks, as defined by the Index, which involves additional risks, including limited diversification. These companies are subject to certain risks, including adverse effects of volatile interest rates, economic recession, increased competition from new entrants in the field, and potential increased regulation. The financial performance of these companies may also be highly dependent upon the business environment in certain geographic regions of the U.S. and may be adversely impacted by any downturn or unfavorable economic or employment developments in their local markets and the U.S. as a whole. These companies may also be subject to interest rater risks and changes in monetary policy as their earnings are largely dependent upon their net interest income and lending risks that could further increase because of increases in interest rates and/or continuing economic weakness.

The 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.

NASDAQ�, OMX�, NASDAQ OMX�, American Bankers Association�, ABA�, and NASDAQ OMX� ABA� Community Bank IndexSM are trademarks of The NASDAQ OMX Group, Inc. and American Bankers Association, (NASDAQ OMX and ABA, collectively with their affiliates, are referred to as the �Corporations�) and are licensed for use by First Trust Advisors L.P. The fund has not been passed on by the Corporations as to its legality or suitability. The fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Not FDIC Insured � Not Bank Guaranteed � May Lose Value

First Trust Nasdaq ABA C... (NASDAQ:QABA)
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