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CORRECTING and REPLACING First Trust Advisors L.P. Announces Portfolio Manager Conference Call for First Trust Specialty Finance and Financial Opportunities Fund

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The conference call date in the first paragraph, first sentence of
release dated August 4, 2014, should read: Tuesday,
August 19, 2014
(instead of Monday,
August 18, 2014
).

The corrected release reads:

FIRST TRUST ADVISORS L.P. ANNOUNCES PORTFOLIO MANAGER CONFERENCE CALL
FOR FIRST TRUST SPECIALTY FINANCE AND FINANCIAL OPPORTUNITIES FUND

First Trust Advisors L.P. (“FTA”) announced today that First Trust
Specialty Finance and Financial Opportunities Fund (NYSE:FGB) (the
“Fund”) intends to host a conference call with Confluence Investment
Management, LLC (“Confluence”), the Fund’s investment sub-advisor, on Tuesday,
August 19, 2014, at 3:15 P.M. Central Time
. The purpose of
the call is to hear the Fund’s portfolio management team provide an
update for the Fund.

Dial-in Number: (866) 865-6631; International (706) 679-1727; and
Passcode # 81404203. Please call 10 to 15 minutes before the
scheduled start of the teleconference.

Telephone Replay: (855) 859-2056; International (404) 537-3406;
and Passcode # 81404203. The replay will be available after the
call until 11:59 P.M. Eastern Time on Thursday, September 18, 2014.

If you have questions about the Fund that you would like answered on the
call, please email your questions to cefquestions@ftadvisors.com
in advance of the call and refer to FGB by Thursday, August 14, 2014,
6:00 P.M. Eastern Time.

The Fund is a non-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 attractive total return. The Fund
pursues these investment objectives by investing at least 80% of its
managed assets in a portfolio of securities of specialty finance and
other financial companies that the Fund’s investment sub-advisor
believes offer attractive opportunities for income and capital
appreciation.

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 $98 billion as of June 30,
2014, through unit investment trusts, exchange-traded funds, closed-end
funds, mutual funds and separate managed accounts.

Confluence, an SEC registered investment advisor, serves as the Fund’s
investment sub-advisor. The investment professionals at Confluence have
over 80 years of aggregate portfolio management experience. Confluence
provides portfolio management and advisory services to both
institutional and individual clients. As of June 30, 2014, Confluence
managed or supervised over $2.7 billion 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; income risk; specialty finance and other
financial companies risks; preferred securities risk; convertible
securities risk; fixed-income securities risk; lower grade and
distressed securities risk; business development company risk; REIT,
mortgage-related and asset-backed securities risks; infrastructure
company risk; master limited partnership risks; tax risks; non-U.S.
securities risk; currency risk; liquidity risk; leverage risk;
non-diversification risk; and market discount from net asset value risk.

Financial Sector Concentration Risk: Under normal market conditions, the
Fund will invest at least 25% of its total assets in securities of
companies within industries in the financial sector. A fund concentrated
in a single industry or group of industries is likely to present more
risks than a fund that is broadly diversified over several industries or
groups of industries. Compared to the broad market, an individual sector
may be more strongly affected by changes in the economic climate, broad
market shifts, moves in a particular dominant stock, or regulatory
changes. Specialty Finance and other financial companies in general are
subject to extensive government regulation, which may change frequently.
The profitability of specialty finance and other financial companies is
largely dependent upon the availability and cost of capital funds, and
may fluctuate significantly in response to changes in interest rates, as
well as changes in general economic conditions. From time to time,
severe competition may also affect the profitability of specialty
finance and other financial companies. Financial companies can be highly
dependent upon access to capital markets and any impediments to such
access, such as general economic conditions or a negative perception in
the capital markets of a company’s financial condition or prospects
could adversely affect its business. Leasing companies can be negatively
impacted by changes in tax laws which affect the types of transactions
in which such companies engage.

Business Development Company (“BDC”) Risk: Investments in closed-end
funds that elect to be treated as BDCs may be subject to a high degree
of risk. BDCs typically invest in small and medium-sized private and
certain public companies that may not have access to public equity
markets or capital raising. As a result, a BDC’s portfolio could include
a substantial amount of securities purchased in private placements, and
its portfolio may carry risks similar to those of a private equity or
venture capital fund. Securities that are not publicly registered may be
difficult to value and may be difficult to sell at a price
representative of their intrinsic value. Investments in BDCs are subject
to various risks, including management’s ability to meet the BDC’s
investment objective, and to manage the BDC’s portfolio when the
underlying securities are redeemed or sold, during periods of market
turmoil and as investors’ perceptions regarding a BDC or its underlying
investments change. BDC shares are not redeemable at the option of the
BDC shareholder and, as with shares of other closed-end funds, they may
trade in the secondary market at a discount to their NAV.

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

The Fund’s daily closing 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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