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

Lisle, IL, December 20, 2005 -- First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI) today declared the Fund’s regularly scheduled monthly distribution, payable on January 17, 2006 to shareholders of record as of January 5, 2006. The ex-dividend date is expected to be January 3, 2006. The monthly distribution information for the Fund appears below.

First Trust Strategic High Income Fund (FHI)
Distribution per share	$0.16
Distribution Rate based on the December 19, 2005 NAV of $18.85	10.19%
Distribution Rate based on the December 19, 2005 closing market price of $18.55	10.35%

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. The fund does not employ leverage.

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

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