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[GRAPHIC OMITTED] PROXY FACT SHEET MEETING DATE: April 17th
MAIL DATE: March 23rd
RECORD DATE: February 13th
ANNUAL MEETING OF SHAREHOLDERS INBOUND LINE: 1-800-761-6707
FUND'S NUMBER: 1-800-988-5891
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FIRST TRUST STRATEGIC HIGH
INCOME FUND
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SPECIAL NOTE: THE ABOVE FUND IS MAILING AS PART OF JOINT PROXY STATEMENT
WHICH ALSO INCLUDES THE ANNUAL MEETINGS OF THE FOLLOWING FUNDS:
First Trust Value Line 100 Fund
Energy Income and Growth Fund
First Trust/Fiduciary Asset Management Covered Call Fund
First Trust/Aberdeen Global Opportunity Income Fund
First Trust/FIDAC Mortgage Income Fund
All 6 funds are voting on the election of trustees, but ONLY STRATEGIC
HIGH INCOME FUND IS VOTING ON A NEW SUB-ADVISORY AGREEMENT.
Our inbound line is in the proxy statement, but we only have the data in
our system for Strategic High Income Fund. If a shareholder calls in to
vote on the other funds, please direct him or her to the voting
instructions found on their proxy card.
________________________________________________________________________________
WHAT IS THIS REGARDING?
Joint annual meetings of the above closed-end funds have been scheduled
for April 17th, 2006. In addition to the ELECTION OF TRUSTEES OF EACH
FUND, STRATEGIC HIGH INCOME FUND IS VOTING ON A PROPOSED NEW SUB-ADVISORY
AGREEMENT.
WHO ARE THE TRUSTEES PROPOSED FOR ELECTION?
The following 4 trustees are proposed for election for each of the funds:
James A. Bowen, Richard E. Erickson, Thomas R. Kadlec and Niel B. Nielson
WHY IS A NEW SUB-ADVISORY AGREEMENT BEING PROPOSED FOR STRATEGIC HIGH
INCOME FUND?
The Fund's sub-advisor, Hilliard Lyons Asset Management entered into an
agreement with Valhalla, LLC. which provided for, among other things, the
rights with respect to the sub-advisory agreement for Strategic High
Income Fund. Therefore, per SEC rules, shareholders must approve the
board's proposed new sub-advisory agreement with Valhalla.
IF APPROVED, WHAT WILL CHANGE?
THERE WILL BE NO CHANGE IN THE FEES PAID BY FIRST TRUST TO THE NEW
SUB-ADVISOR, VALLHALA.
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FIRST TRUST FACT SHEET - CONTINUED
In addition, the trustees have considered the nature, extent and quality
of services to be provided by Valhalla and noted that THE PORTFOLIO
MANAGERS CURRENTLY MANAGING THE FUND'S PORTFOLIO WOULD REMAIN AS THE
FUND'S PORTFOLIO MANAGERS AFTER THE PROPOSED TRANSACTION. The portfolio
managers are: Kenneth L. Mathis, Justin L. Ventura and Raymond P.
Mercherle, III. They are all currently employees of both Valhalla and
Hilliard Lyons Asset Mangement
HOW DOES THE BOARD RECOMMEND THAT I VOTE?
After careful consideration, THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR
BOTH PROPOSALS.
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TICKER SYMBOLS
FUND NAME TICKER SYMBOL
-------------------------------------------------------- -------------
First Trust Strategic High Income Fund FHI
First Trust/FIDAC Mortgage Income Fund FMY
First Trust/Aberdeen Global Opportunity Income Fund FAM
First Trust/Fiduciary Asset Management Covered Call Fund FFA
Energy Income And Growth Fund FEN
First Trust Value Line(R) 100 Fund FVL
The following table indicates which shareholders are solicited with respect
to each proposal:
PROPOSAL 2:
PROPOSAL 1: APPROVAL OF NEW
ELECTION OF SUB-ADVISORY
FUND TRUSTEES AGREEMENT
First Trust Value Line(R) 100 Fund X
Energy Income and Growth Fund X
First Trust/Fiduciary Asset Management
Covered Call Fund X
First Trust/Aberdeen Global Opportunity
Income Fund X
First Trust/FIDAC Mortgage Income Fund X
First Trust Strategic High Income Fund X X
PROXY SOLICITATION SCRIPT
=========================
THE ALTMAN GROUP [LOGO OMITTED] FIRST TRUST STRATEGIC HIGH INCOME FUND
Good (Morning, afternoon, evening) can I please speak with (Mr./Ms.) ____________? Hello my name is (Full Name) and I am
calling on behalf of your current investment with the First Trust Strategic High Income Fund. I wanted to confirm that you have
received the proxy material for the Special Meeting of Shareholders scheduled to take place on April 17, 20065. Have you
received the proxy information?
YES NO
| |
| |
Great. As a convenience to you, Sorry to hear that. I can have
I can go ahead and record If you would like I can review the another package sent
your voting instructions over meeting agenda with you right now and out to you
the phone if you would like. would be happy to answer any questions
you may have. Would you like to do so? (Mr./Ms.) __________ To insure that we have
^ your correct address, may I please have
YES NO--------------- | your city, state and zip code.
| | | YES NO
| | | | | Okay, thank you. You will receive the
Your Board of Directors is | | | | material shortly.
recommending a vote in favor, | | | | |
would you like to vote along <---------------|-----REVIEW PROPOSALS | |
with the recommendations of | | | |
your board? | | | |
| | | |
| | | |
YES NO ----------------------> Don't Know the proposals | |
| | \ | | |
| | \ | | |
| Manual \ | | |
| Vote \ | | Once you receive the material you
| Entry \ | | can contact us to answer any
| | \ | | questions you may have and also
| | \ | | issue your vote right over the
| | \ ----------|->Don't wish to vote today... | phone should you wish. If you
| | | | | have a pen or pencil handy I'll
| | | | | leave you our toll free number.
| | | | |
| | | | | That number is 1-800-761-6707.
| | | | | |
Thank you, I am recording | | | |
your ______ vote. For | | | |
confirmation purposes, When you have a few moments, please review |
may I please have your the proxy material and vote your |
city, state and zip code? shares by either contacting us |
directly toll-free at 1-800-761-6707 |
Thank you. You will receive or by signing the proxy card enclosed |
a written confirmation of with the material. \ |
your voting instructions \ |
in the mail. | \ |
| \ |
| (Mr./Ms) _____Your vote is very important and your time is
|------------------------------------------------> greatly appreciated. Thank you and have a nice (morning,
afternoon, evening).