First Trust/Highland Capital Floating Rate Income Fund Declares Monthly Distribution for October of $0.0667 per unit



    TSX Symbol FHT.UN

    TORONTO, Oct. 22 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund ("the Fund") announces a distribution for the month ending October
31, 2007 of $ 0.0667 per unit.
    The Fund's distribution equates to an annualized distribution rate of
8.00% on an initial subscription price of $ 10.00 per unit. The distribution
is payable on November 14, 2007 to Unitholders of record on October 31, 2007.

    The Fund provides exposure to a portfolio of primarily U.S. dollar
denominated, senior secured floating rate corporate loans. The fund aims to
(i) deliver monthly distributions which will fluctuate with changes in U.S.
short term interest rates, and (ii) to preserve and enhance the net asset
value per Unit in order to return the original $ 10.00 subscription price of
the Units to Unitholders.





For further information:

For further information: First Defined Portfolio Management Co., (416)
865-8065, (877) 622-5552

Organization Profile

FIRST TRUST/HIGHLAND CAPITAL FLOATING RATE INCOME FUND

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