FIRST TRUST STRATEGIC HIGH INOME FUND

                                                                 April 7, 2006


                   IMPORTANT NOTICE REGARDING YOUR INVESTMENT

Dear Shareholder:

As discussed in the proxy statement that we previously mailed to you, the Annual
Meeting of Shareholders of First Trust Strategic High Income Fund is scheduled
for April 17, 2006. Our records indicate that we have not received your voting
instructions. PLEASE TAKE A MOMENT NOW TO CAST YOUR VOTE SO THAT YOUR SHARES MAY
BE REPRESENTED AT THE SPECIAL MEETING. Another copy of your ballot(s) has been
enclosed. The ballot contains the following items on which your vote is
important:

1. Election of Trustees
2. Approval of a new sub-advisory contract.

Should you have any questions regarding the proposal, please call the toll-free
number 1-800-761-6707 (ask for extension 12). The voting options below have been
set up for your convenience.

1.       VOTE BY TOUCH-TONE PHONE. You may cast your vote by telephone by
         calling the toll-free number found on the enclosed proxy card.

2.       VOTE THROUGH THE INTERNET. You may cast your vote using the Internet by
         logging into the Internet address located on the enclosed proxy card
         and following the instructions on the website.

3.       VOTE BY MAIL. You may cast your vote by signing, dating and mailing the
         enclosed proxy card in the postage-prepaid return envelope provided. If
         convenient for you, please utilize one of the first two options above
         to insure that your response is received in time for the Special
         Meeting on April 17th.

       PLEASE UTILIZE ONE OF THE OPTIONS ABOVE TO VOTE YOUR SHARES TODAY.
                                                  -----------------------

Again, please do not hesitate to CALL TOLL-FREE 1-800-761-6707 if you have any
questions regarding this matter. If you have voted since the mailing of this
letter, we apologize for the follow up mailing and thank you for your
participation.

Thank you for your assistance with this important matter.

Sincerely,

/s/ James A. Bowen
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James A. Bowen
Chairman of the Board