First Trust Energy Income and Growth Fund Prices Public Offering of 2,800,000 Common Shares

First Trust Energy Income and Growth Fund Prices Public Offering of 2,800,000 Common Shares

WHEATON, Ill.--(BUSINESS WIRE)-- First Trust Energy Income and Growth Fund (the "Fund") (NYSE MKT: FEN) announced today the pricing of a public offering of common shares. The Fund agreed to sell a total of 2,800,000 common shares at a price to the public of $34.55 per share (exclusive of 420,000 common shares that the underwriters may purchase pursuant to a 45-day option to cover over-allotments). Net proceeds from the offering of approximately $92.7 million will be used to make additional portfolio investments that are consistent with the Fund's investment objective and policies, and for general corporate purposes. The offering is scheduled to close on May 3, 2013.

Morgan Stanley, Citigroup and RBC Capital Markets are acting as joint book-running managers for the offering. Oppenheimer & Co., Baird, BB&T Capital Markets and Janney Montgomery Scott are acting as co-lead managers for the offering. The offering is made pursuant to an existing shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus. Interested persons, including existing shareholders of the Fund, may obtain a copy of the prospectus supplement and accompanying base prospectus relating to the offering from the following addresses:

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649

c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (800) 831-9146

RBC Capital Markets
Attn: Equity Syndicate Department
Three World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281
Telephone: 212-428-6670
Fax: 212-428-6260

Investors may also obtain these documents free of charge from the Securities and Exchange Commission's website at

An investor should read the Fund's prospectus supplement and accompanying base prospectus carefully before investing. The prospectus supplement and accompanying base prospectus contains important information about the Fund and its investment objective and policies, risks, charges and expenses.

This press release does not constitute an offer to sell or a solicitation to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. A registration statement relating to these securities was filed with, and has been declared effective by, the Securities and Exchange Commission.

The Fund is a non-diversified, closed-end management investment company which commenced investment operations in June 2004. The Fund's investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund seeks to provide its common shareholders with an efficient vehicle to invest in a portfolio of cash-generating securities of publicly traded master limited partnerships ("MLPs") and related public entities in the energy sector.

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 $72.2 billion as of March 31, 2013, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Energy Income Partners, LLC ("EIP") serves as the Fund's investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of March 31, 2013, EIP managed or supervised approximately $3.7 billion in client assets.

For First Trust Energy Income and Growth Fund
Press Inquiries:
Jane Doyle 630-765-8775
Analyst Inquiries:
Jeff Margolin 630-915-6784
Broker Inquiries:
Jeff Margolin 630-915-6784

KEYWORDS:   United States  North America  Illinois


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