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First Trust Strategic High Income Fund II Decreases its Monthly Common Share Distribution to $0.11 Per Share for March

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First Trust Strategic High Income Fund II (the “Fund”) (NYSE:FHY) has decreased its regularly scheduled monthly common share distribution to $0.11 per share from $0.12 per share. The distribution is payable on March 16, 2015, to shareholders of record as of March 4, 2015. The ex-dividend date is expected to be March 2, 2015. The monthly distribution information for the Fund appears below.

First Trust Strategic High Income Fund II (FHY):

Distribution per share: $0.11
Distribution Rate based on the February 18, 2015 NAV of $15.91: 8.30%
Distribution Rate based on the February 18, 2015 closing market price of $14.44: 9.14%
Decrease from previous distribution of $0.12: -8.33%

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 of tax status of all 2015 distributions will be made after the end of 2015.

The Fund is a diversified, 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 seeks to achieve its investment objectives by investing in a diversified portfolio of below-investment grade and investment grade debt securities, and equity securities that the investment sub-advisor believes offer attractive yield and/or capital appreciation potential. The Fund may invest up to 100% of its managed assets in below-investment grade debt securities (commonly referred to as “high-yield” or “junk” bonds).

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $106 billion as of January 30, 2015, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Brookfield is a wholly-owned subsidiary of Brookfield Asset Management, a global alternative asset manager with approximately $200 billion in assets under management as of December 31, 2014. Brookfield Asset Management has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield Asset Management’s public market activities are conducted by Brookfield, a registered investment advisor, with over $18 billion of assets under management as of December 31, 2014.

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, non-U.S. securities risk, currency risk, distressed securities risk, inflation/deflation risk, interest rate risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.

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 or by calling 1-800-988-5891.

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