American Stock Exchange News Release

ETF Release
Media Contact: Bari Trontz
American Stock Exchange
212-306-8964/bari.trontz@amex.com

AMERICAN STOCK EXCHANGE LAUNCHES FIRST TRUST VALUE LINE EQUITY ALLOCATION INDEX FUND
New ETF Tracks Stocks Selected from Value Line's Equity Universe
New York, December 7, 2006 -  The American Stock Exchange (Amex) announced today that it has launched trading in the First Trust Value Line Equity Allocation Index Fund (FVI).

"First Trust is a respected leader in providing investors with innovative and efficient products," said Cliff Weber, senior vice president of the Amex ETF Marketplace. "The Amex takes great pride in welcoming First Trust's seventh ETF listing to the Exchange."

FVI seeks investment results that correspond generally to the price and yield, before fees and expenses, of the Value Line Equity Allocation Index (VLFVI). VLFVI is a modified equal-dollar weighted index comprised of U.S. exchange-listed securities of companies with capital appreciation potential. VLFVI is designed to objectively identify and select those stocks from the Value Line universe across market capitalizations and investment styles for growth and value that appear to have the greatest potential for capital appreciation.

"We are pleased to introduce another innovative product on the American Stock Exchange," said R. Scott Hall, managing director of First Trust Advisors L.P. "We have enjoyed a long history of offering investment solutions utilizing Value Line's trusted research, and we believe this ETF gives investors even greater flexibility in choosing investments to meet their financial goals."

Goldman Sachs Execution & Clearing, LP is the specialist trading FVI and LaBranche Structured Products, LLC is the specialist trading options on FVI.

About American Stock Exchange

The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 217 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com

About First Trust Advisors L.P. and First Trust Portfolios L.P.

First Trust Advisors L.P. and its affiliate, First Trust Portfolios L.P., are privately-held investment services companies which were established in 1991 and operate nationwide and also in Canada and Europe. The firms provide a variety of investment services, including asset management, financial advisory services, and municipal and corporate investment banking. The firms currently have assets under management or supervision of over $25 billion through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

You should consider the fund's investment objectives, risks, charges and expenses carefully before investing. Call 800-621-1675 to request a prospectus, which contains this and other information about the fund. Read it carefully before you invest or send money. Like all investment company securities, the shares of the fund are not insured by the FDIC or any other government agency, are not issued or guaranteed by any bank, and may lose value.