First Trust / Highland Capital Floating Rate Income Fund Declares Monthly Distribution for August of $0.0417 per unit

TSX Symbol FHT.UN

TORONTO, Aug. 20 /CNW/ - First Trust / Highland Capital Floating Rate Income Fund ("the Fund") announces a distribution for the month ending August 31, 2008 of $ 0.0417 per unit.

The Fund's distribution equates to an annualized distribution rate of 5.00% on an initial subscription price of $ 10.00 per unit. The distribution is payable on September 15, 2008 to Unitholders of record on August 29, 2008.

The Fund provides exposure to a portfolio of primarily U.S. dollar denominated, senior secured floatng rate corporate loans. The fund aims to (i) deliver monthly distributions which will fluctuate with changes in U.S. short term interest rates, and (ii) to preserve and enhance the net asset value per Unit in order to return the original $ 10.00 subscription price of the Units to Unitholders.

Contacts

First Defined Portfolio Management Co.
(Local): (416) 865-8065
(Toll-Free): (877) 622-5552