FHI Federated Hermes Inc

First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI) today declared the Fund's regularly scheduled monthly distribution, payable on February 15, 2006 to shareholders of record as of February 3, 2006. The ex-dividend date is expected to be February 1, 2006. The monthly distribution information for the Fund appears below. -0- *T First Trust Strategic High Income Fund (FHI): --------------------------------------------- Distribution per share: $0.16 Distribution Rate based on the January 19, 2006 NAV of $18.94: 10.14% Distribution Rate based on the January 19, 2006 closing market price of $18.70: 10.27% *T The Fund is a closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide capital growth. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a diversified portfolio of high income producing securities that the sub-adviser believes offer attractive yield and capital appreciation potential. The fund does not employ leverage. First Trust Advisors L.P. acts as the Fund's investment advisor and currently manages or supervises approximately $22 billion in assets. Hilliard Lyons Asset Management ("HLAM") is the Fund's sub-adviser. HLAM is a division of J.J.B. Hilliard, W.L. Lyons, Inc., which is an indirect wholly-owned subsidiary of The PNC Financial Services Group, Inc. ("PNC"). PNC, a publicly-held financial holding company, provides commercial and retail banking and other financial services in the areas of investment banking, asset management, mutual funds, trusts, securities brokerage, insurance, leasing, and mortgage banking. HLAM serves as investment adviser or sub-adviser to approximately $4.8 billion in assets as of September 30, 2005, which consists of two mutual funds, one money market fund, and separately managed accounts and trust assets. HLAM or its predecessors have been managing assets since 1967. Past performance is no assurance of future results. 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. Principal Risk Factors: Investment in this Fund involves investment and market risk, management risk, value investing risk, below-investment grade securities risk, fixed-income securities risk, mortgage-backed securities risk, asset-backed securities risk, convertible securities risk, municipal securities risk, foreign securities risk, foreign government securities risk, equity securities risk, currency risk, distressed securities risk, preferred stock risk, inflation/deflation risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. 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 1-800-988-5891.