Market Overview

First Trust Advisors L.P. Announces Portfolio Manager Update for FEI, FEN, FIF and FPL

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First Trust Advisors L.P. ("FTA") announced today that Energy Income
Partners, LLC ("EIP"), investment sub-advisor for First Trust MLP and
Energy Income Fund (NYSE:FEI), First Trust Energy Income and Growth
Fund (NYSE:FEN), First Trust Energy Infrastructure Fund (NYSE: FIF), and First Trust New Opportunities MLP & Energy Fund (NYSE:FPL)
(the "Funds"), will release an update on the market and the Funds for
financial advisors and investors. The update will be available Friday,
September 14, 2018 at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern
Time on Saturday, October 13, 2018
.
To listen to the update,
follow these instructions:

-- Dial: (888) 203-1112; International (719) 457-0820; and Passcode #
5791888. The update will be available from Friday, September 14, 2018,
at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time on Saturday,
October 13, 2018.

FTA is a federally registered investment advisor and serves as the
Funds' investment advisor. FTA and its affiliate First Trust Portfolios
L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held
companies that provide a variety of investment services. FTA has
collective assets under management or supervision of approximately $130
billion as of July 31, 2018 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts. FTA is the supervisor of the First Trust unit
investment trusts, while FTP is the sponsor. FTP is also a distributor
of mutual fund shares and exchange-traded fund creation units. FTA and
FTP are based in Wheaton, Illinois.

EIP provides advisory services to a number of investment companies and
partnerships for the purpose of investing in MLPs and other energy
infrastructure securities. EIP is one of the early investment advisors
specializing in this area. As of August 31, 2018, EIP managed or
supervised approximately $6.4 billion in client assets.

Investment return and market value of an investment in the Funds will
fluctuate. Shares, when sold, may be worth more or less than their
original cost.

Principal Risk Factors: The Funds are subject to risks, including the
fact that each Fund is a non-diversified closed-end management
investment company.

Because the Funds are concentrated in securities issued by MLPs,
MLP-related entities, and other energy and utilities companies, they
will be more susceptible to adverse economic or regulatory occurrences
affecting those industries, including high interest costs, high leverage
costs, the effects of economic slowdown, surplus capacity, increased
competition, uncertainties concerning the availability of fuel at
reasonable prices, the effects of energy conservation policies and other
factors.

The Funds invests in securities of non-U.S. issuers which are subject to
higher volatility than securities of U.S. issuers. Because the Funds
invest in non-U.S. securities, you may lose money if the local currency
of a non-U.S. market depreciates against the U.S. dollar.

The Funds' use of derivatives may result in losses greater than if they
had not been used, may require the Funds to sell or purchase portfolio
securities at inopportune times, may limit the amount of appreciation
the Funds can realize on an investment, or may cause the Funds to hold a
security that they might otherwise sell.

There can be no assurance as to what portion of FIF's distributions paid
to the Fund's Common Shareholders will consist of tax-advantaged
qualified dividend income.

Use of leverage can result in additional risk and cost, and can magnify
the effect of any losses.

The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any
fiduciary capacity within the meaning of ERISA and the Internal Revenue
Code. First Trust has no knowledge of and has not been provided any
information regarding any investor. Financial advisors must determine
whether particular investments are appropriate for their clients. First
Trust believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for
exercising independent judgment with respect to its retirement plan
clients.

The risks of investing in the Funds are spelled out in the prospectus,
shareholder reports and other regulatory filings.

The Funds' daily New York Stock Exchange closing price and net asset
value per share as well as other related information can be found at www.ftportfolios.com
or by calling 1-800-988-5891.

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