First Trust/Highland Capital Floating Rate Income Fund Increase in NAV for Purposes of Calculating Redemption Entitlement

    TORONTO, April 6 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund (the "Fund") announces a revision of the amount to which unit
holders were entitled to receive in respect of trust units of the Fund they
redeemed as at February 27, 2009 (the "Redemption Date").
    Unit holders who surrendered units of the Fund for redemption during the
most recent notice period were entitled to receive an amount equal to the net
asset value per unit ("NAV") determined in accordance with the declaration of
trust of the Fund as at the last business day of February 2009. The Fund
previously announced that the NAV for such purposes was $2.6900. The Fund
subsequently determined that the value of the loan portfolio was understated
on the Redemption Date. The correct NAV on the Redemption Date was $2.7447.
    Unit holders who redeemed units on the Redemption Date will receive an
additional payment of $0.0547 per unit on April 8, 2009.

For further information:

For further information: First Defined Portfolio Management Co., (416)
865-8065 or 1-877-622-5552

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