Filed by First Trust Value Line(R) 100 Fund
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed Pursuant to Rule 14a-12 under the
Securities Exchange Act of 1934
Subject Company: First Trust Value Line(R) 100 Fund
(File Number 811-21336)
[LOGO OMITTED] FIRST TRUST IMPORTANT NOTICE
ADVISORS L.P.
FIRST TRUST VALUE LINE(R) 100 FUND
1001 Warrenville Road
Lisle, Illinois 60532
_______________________________________________________________________________
May 4, 2007
Dear Shareholder:
Our records indicate that we have not yet received your important proxy
vote for the May 17th Special Meeting of Shareholders. If you have voted
since this letter was mailed we thank you for casting your vote. If your
shares have not yet been voted, please note that an important change is
being voted on that will significantly affect your investment. The Fund
needs your shares represented to conduct the business of the meeting.
Please take a moment and cast your vote today.
WHAT IS HAPPENING? Your Fund's Board of Trustees has unanimously approved
an Agreement and Plan of Reorganization to reorganize your Fund with and
into FIRST TRUST VALUE LINE(R) 100 EXCHANGE-TRADED FUND, a newly created,
diversified series of the First Trust Exchange-Traded Fund. More
information can be found in the prospectus/proxy statement. Among the
factors considered by your Board of Trustees were:
o The Reorganization should significantly reduce or eliminate
the discount to net asset value at which shares of your Fund
have historically traded
o The new exchange traded fund will have a lower management
fee and lower total fund operating expense ratio than your
current Fund for at least two years following the
Reorganization (after expense waivers)
PLEASE UTILIZE ONE OF THE FOLLOWING METHODS TO SUBMIT YOUR VOTE:
[GRAPHIC OMITTED] 1. VOTE BY TELEPHONE. You may cast your vote by
calling our toll-free proxy hotline at
1-800-926-7043. Representatives are available to
record your vote Monday through Friday 9:00 a.m.
to 10:00 p.m. Eastern Time.
[GRAPHIC OMITTED] 2. VOTE BY TOUCH-TONE PHONE. You may cast your vote
by telephone by calling the toll-free number found
on the enclosed proxy ballot(s).
[GRAPHIC OMITTED] 3. VOTE THROUGH THE INTERNET. You may cast your vote
using the Internet by logging into the Internet
address located on the enclosed proxy ballot(s)
and following the instructions on the website.
[GRAPHIC OMITTED] 4. VOTE BY MAIL. You may cast your vote by signing,
dating and mailing the enclosed proxy ballot in
the postage-prepaid return envelope provided. If
convenient for your, please utilize one of the
voting options above so that your vote will be
received no later than May 17th.
Please do not hesitate to CALL TOLL-FREE 1-800-926-7043 if you have any
questions regarding this matter. Thank you for your assistance with this
important matter. Please take a moment now to vote.
Sincerely,
/s/ James A. Bowen
James A. Bowen
Chairman of the Board
NOBO
ADDITIONAL INFORMATION ABOUT THIS TRANSACTION
In connection with the proposed reorganization, your Fund filed
a registration statement, which includes a prospectus/proxy statement
dated March 21, 2007, that has been sent to each of the shareholders of
your Fund, and your Fund may file other relevant documents concerning the
proposed reorganization with the Securities and Exchange Commission
(SEC). Shareholders are urged to read the registration statement and the
prospectus/proxy statement regarding the proposed reorganization and any
other relevant documents filed with the SEC, as well as any amendments or
supplements to those documents, because they will contain important
information.
You will be able to obtain a free copy of the prospectus/proxy
statement, as well as other filings containing information about your
Fund, at the SEC's website (http://www.sec.gov). You will also be able to
obtain these documents, free of charge, by accessing First Trust
Advisor's website at www.ftadvisors.com. Copies can also be obtained,
free of charge, by directing a request to First Trust Advisors L.P., 1001
Warrenville Road, Suite 300, Lisle, Illinois 60532, telephone number:
(800) 988-5891.
Your Fund, its trustees and executive officers, and First Trust
Advisors, its officers and employees, may be deemed to be participants in
the solicitation of proxies from the shareholders of your Fund in
connection with the proposed reorganization. Information about the
trustees and executive officers of your Fund is set forth in the
prospectus/proxy statement. Additional information regarding the
interests of those participants and other persons who may be deemed
participants in the transaction may be obtained by reading the
prospectus/proxy statement regarding the proposed reorganization. You may
obtain free copies of these documents as described above.
[LOGO OMITTED] FIRST TRUST IMPORTANT NOTICE
ADVISORS L.P.
FIRST TRUST VALUE LINE(R) 100 FUND
1001 Warrenville Road
Lisle, Illinois 60532
_______________________________________________________________________________
May 4, 2007
Dear Shareholder:
Our records indicate that we have not yet received your important proxy
vote for the May 17th Special Meeting of Shareholders. If you have voted
since this letter was mailed we thank you for casting your vote. If your
shares have not yet been voted, please note that an important change is
being voted on that will significantly affect your investment. The Fund
needs your shares represented to conduct the business of the meeting.
Please take a moment and cast your vote today.
WHAT IS HAPPENING? Your Fund's Board of Trustees has unanimously approved
an Agreement and Plan of Reorganization to reorganize your Fund with and
into FIRST TRUST VALUE LINE(R) 100 EXCHANGE-TRADED FUND, a newly created,
diversified series of the First Trust Exchange-Traded Fund. More
information can be found in the prospectus/proxy statement. Among the
factors considered by your Board of Trustees were:
o The Reorganization should significantly reduce or eliminate
the discount to net asset value at which shares of your Fund
have historically traded
o The new exchange traded fund will have a lower management
fee and lower total fund operating expense ratio than your
current Fund for at least two years following the
Reorganization (after expense waivers)
PLEASE UTILIZE ONE OF THE FOLLOWING METHODS TO SUBMIT YOUR VOTE:
[GRAPHIC OMITTED] 1. VOTE BY TOUCH-TONE PHONE. You may cast your vote
by telephone by calling the toll-free number found
on the enclosed proxy ballot(s).
[GRAPHIC OMITTED] 2. VOTE THROUGH THE INTERNET. You may cast your vote
using the Internet by logging into the Internet
address located on the enclosed proxy ballot(s)
and following the instructions on the website.
[GRAPHIC OMITTED] 3. VOTE BY MAIL. You may cast your vote by signing,
dating and mailing the enclosed proxy ballot in
the postage-prepaid return envelope provided. If
convenient for your, please utilize one of the
voting options above so that your vote will be
received no later than May 17th.
Please do not hesitate to CALL TOLL-FREE 1-800-926-7043 if you have any
questions regarding this matter. Thank you for your assistance with this
important matter. Please take a moment now to vote.
Sincerely,
/s/ James A. Bowen
James A. Bowen
Chairman of the Board
OBO
ADDITIONAL INFORMATION ABOUT THIS TRANSACTION
In connection with the proposed reorganization, your Fund filed
a registration statement, which includes a prospectus/proxy statement
dated March 21, 2007, that has been sent to each of the shareholders of
your Fund, and your Fund may file other relevant documents concerning the
proposed reorganization with the Securities and Exchange Commission
(SEC). Shareholders are urged to read the registration statement and the
prospectus/proxy statement regarding the proposed reorganization and any
other relevant documents filed with the SEC, as well as any amendments or
supplements to those documents, because they will contain important
information.
You will be able to obtain a free copy of the prospectus/proxy
statement, as well as other filings containing information about your
Fund, at the SEC's website (http://www.sec.gov). You will also be able to
obtain these documents, free of charge, by accessing First Trust
Advisor's website at www.ftadvisors.com. Copies can also be obtained,
free of charge, by directing a request to First Trust Advisors L.P., 1001
Warrenville Road, Suite 300, Lisle, Illinois 60532, telephone number:
(800) 988-5891.
Your Fund, its trustees and executive officers, and First Trust
Advisors, its officers and employees, may be deemed to be participants in
the solicitation of proxies from the shareholders of your Fund in
connection with the proposed reorganization. Information about the
trustees and executive officers of your Fund is set forth in the
prospectus/proxy statement. Additional information regarding the
interests of those participants and other persons who may be deemed
participants in the transaction may be obtained by reading the
prospectus/proxy statement regarding the proposed reorganization. You may
obtain free copies of these documents as described above.