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First Trust Advisors L.P. Announces Portfolio Manager Update for First Trust Enhanced Equity Income Fund

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First Trust Advisors L.P. ("FTA") announced today that Chartwell
Investment Partners, LLC ("Chartwell"), investment sub-advisor for First
Trust Enhanced Equity Income Fund (NYSE:FFA) (the "Fund"), will release
an update on the market and the Fund for financial advisors and
investors. The update will be available Monday,
March 18, 2019, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time
on Thursday, April 18, 2019
. To listen to the update, follow
these instructions:

-- Dial: (888) 203-1112; International (719) 457-0820; Passcode #
9978998 and PIN # 8138. The update will be available from Monday, March
18, 2019, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time on
Thursday, April 18, 2019.

The Fund is a diversified, closed-end management investment company that
seeks to provide a high level of current income and gains and, to a
lesser extent, capital appreciation. The Fund seeks to achieve its
investment objective by investing in a diversified portfolio of equity
securities and by writing (selling) covered call options on a portion of
the equity securities in the fund's portfolio.

FTA is a federally registered investment advisor and serves as the
Fund's 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 $125
billion as of February 28, 2019 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.

Chartwell is an investment firm focusing on institutional, sub-advisory,
and private client relationships. The firm is a research-based equity
and fixed-income manager with a disciplined, team-oriented investment
process. As of February 28, 2019, Chartwell had approximately $9.8
billion in assets under management.

Investment return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost. There can be no assurance that the Fund's investment
objectives will be achieved. The Fund may not be appropriate for all
investors.

Principal Risk Factors: Equity securities prices fluctuate for several
reasons, including changes in investors' perceptions of the financial
condition of an issuer or the general condition of the relevant stock
market, or when political or economic events affecting the issuers or
their industries occur.

The Fund may write (sell) covered call options on all or a portion of
the equity securities held in the Fund's portfolio. The use of options
may require the Fund to sell portfolio securities at inopportune times
or for prices other than current market values, may limit the amount of
appreciation the Fund can realize on an investment, or may cause the
Fund to hold an equity security that it might otherwise sell.

There is no guarantee that the issuers of the equity securities in which
the Fund invests will declare dividends in the future or that if
declared they will remain at current levels. There can be no assurance
as to what portion of the distributions paid to the Fund's Common
Shareholders will consist of tax-advantaged qualified dividend income.

Investment in non-U.S. securities is subject to the risk of currency
fluctuations and to economic and political risks associated with such
foreign countries.

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

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, the Internal Revenue
Code or any other regulatory framework. Financial advisors are
responsible for evaluating investment risks independently and for
exercising independent judgment in determining whether investments are
appropriate for their clients.

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

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