First Trust Intermediate Duration Preferred & Income Fund Declares its Initial Monthly Common Share

First Trust Intermediate Duration Preferred & Income Fund Declares its Initial Monthly Common Share Distributions of $0.1525 Per Share for August, September and October

WHEATON, Ill.--(BUSINESS WIRE)-- First Trust Intermediate Duration Preferred & Income Fund (the "Fund") (NYS: FPF) has declared the Fund's initial regularly scheduled monthly common share distributions for August, September and October of $0.1525 per share for each month.

The payable, record and expected ex-dividend dates for these distributions are as follows:

It is anticipated that the monthly distribution for November will be declared on its regular schedule on or around October 21, 2013.

The monthly distribution information for the Fund appears below.

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 and tax status of all 2013 distributions will be made after the end of 2013.

The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund will seek to achieve its investment objectives by investing in preferred and other income-producing securities. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies, including traditional preferred securities, hybrid preferred securities that have investment and economic characteristics of both preferred securities and debt securities, floating rate and fixed-to-floating rate preferred securities, debt securities, convertible securities and contingent convertible Securities.

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 $70 billion as of May 31, 2013, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separately managed accounts.

Stonebridge Advisors LLC ("Stonebridge"), the fund's sub-advisor, is a registered investment advisor specializing in preferred and hybrid securities. Stonebridge was formed in December 2004 by First Trust Portfolios L.P. and Stonebridge Asset Management, LLC. The company had assets under management or supervision of approximately $3.2 billion as of May 31, 2013. These assets come from separately managed accounts, an open-end mutual fund, an actively managed exchange-traded fund and the Fund.

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 no operating history risk, investment and market risk, market discount from net asset value risk, management risk, preferred and hybrid preferred securities risk, trust preferred securities risk, debt securities risk, credit crisis liquidity and volatility risk, convertible securities/contingent convertible securities risk, risks of concentration in the financial sector, government intervention in the financial markets risk, REIT risk, credit and below investment grade securities risk, credit rating agency risk, leverage risk, foreign (non-U.S.) securities risk, emerging markets risk, common stock risk, U.S. government securities risk, foreign government securities risk, municipal securities risk, illiquid and restricted securities risk, valuation risk, inflation/deflation risk, potential conflicts of interest risk, new types of securities risk, counterparty and prime brokerage risk, portfolio turnover risk, non-diversified shares risk, market disruption, geopolitical risk, risk related to certain affiliations and anti-takeover provisions, temporary defensive strategies risk, secondary market for the fund's common shares and changes in law. The risks of investing in the Fund are spelled out in the prospectus, 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 www.ftportfolios.com or by calling 1-800-988-5891.

First Trust Intermediate Duration Preferred & Income 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

INDUSTRY KEYWORDS:

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