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 May 15, 2007 to shareholders of record as of May 3, 2007. The ex-dividend date is expected to be May 1, 2007. The monthly distribution information for the Fund appears below. First Trust Strategic High Income Fund (FHI): Distribution per share: $0.16 Distribution Rate based on the April 19, 2007 NAV of $19.26: 9.97% Distribution Rate based on the April 19, 2007 closing market price of $20.41: 9.41% The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2007 will be made after the end of 2007. 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 below-investment grade debt securities. The Fund employs leverage. First Trust Advisors L.P. acts as the Fund�s investment advisor and currently manages or supervises approximately $29 billion in assets. Valhalla Capital Partners, LLC, the Fund�s sub-adviser (�Valhalla�), is a boutique asset management firm focused on managing high-yield portfolios with an emphasis on structured finance securities. The three managing partners have 50 years combined industry experience and the investment team has an average of over 11 years experience in working with high-yield and structured finance securities. Valhalla currently manages approximately $650 million in assets. 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. Please see the Fund�s prospectus for additional information on the risks of investing in the Fund. 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.