FVL First Trust Value Line 100 Exchange Traded Fund

First Trust Value Line� 100 Fund (the �Fund�) (AMEX: FVL) has declared its final distribution totaling $1.055 per share as follows: Short-Term Capital Gain $ 0.958� Long-Term Capital Gain � $ 0.097� Total $ 1.055� This distribution will be made to shareholders of record of the Fund as of June 8, 2007. This record date was previously declared in a press release dated May 29, 2007. The payment date will be June 13, 2007, with an expected ex-dividend date of June 6, 2007. This distribution will be the final distribution for the Fund and will be paid in cash rather than reinvested. As approved by the Fund�s shareholders at a Special Meeting of Shareholders held on May 17, 2007, the Fund will reorganize with and into First Trust Value Line� 100 Exchange-Traded Fund (�FVLEF�), an exchange-traded fund that is a series of First Trust Exchange-Traded Fund. It is anticipated that the Fund will cease trading on the AMEX on Friday, June 15, 2007 and FVLEF will begin trading on the AMEX on Monday, June 18, 2007 under the �FVL� ticker symbol. The Fund is a diversified closed-end management investment company. The Fund�s investment objective is to provide capital appreciation. It seeks to outperform the Standard & Poor�s 500 Composite Stock Price Index by investing in a diversified portfolio of the 100 common stocks ranked #1 in Value Line�s� TimelinessTM Ranking System. First Trust Advisors L.P. is the Fund�s investment advisor 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: The Fund invests principally in equity securities and the Fund�s NAV will fluctuate with changes in the value of the Fund�s holdings. The types of stocks that are selected through application of the Fund�s investment strategy can be expected to change over time. Particular risks may be elevated during periods in which the Fund�s investment strategy dictates higher levels of investment in particular types of stocks. 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.