First Trust/Highland Capital Floating Rate Income Fund Declares Monthly Distribution for March of $0.0583 per unit

    TSX Symbol FHT.UN

    TORONTO, March 19 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund ("the Fund") announces a distribution for the month ending
March 31, 2008 of $ 0.0583 per unit.
    The Fund's distribution equates to an annualized distribution rate of
7.00% on an initial subscription price of $ 10.00 per unit. The distribution
is payable on April 14, 2008 to Unitholders of record on March 31, 2008.

    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

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