N@N

WHEATON, Ill.--([ BUSINESS WIRE ])--First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) has declared the Fundas regularly scheduled monthly common share distribution payable on May 15, 2012 to shareholders of record as of May 3, 2012. The ex-dividend date is expected to be May 1, 2012. 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 of tax status of all 2012 distributions will be made after the end of 2012.

The Fund is a 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 capital growth. The Fund pursues these investment objectives by investing up to 100% of its managed assets in a diversified portfolio of below-investment grade and investment grade debt securities and equity securities that the investment sub-advisor believes offer attractive yield and/or capital appreciation potential.

First Trust Advisors L.P., the Fundas 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 $55 billion as of March 31, 2012 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Brookfield Investment Management Inc. (aBrookfielda) serves as the Fundas sub-advisor. Brookfield is a global alternative asset manager with approximately $150 billion in assets under management as of March 31, 2012. They have over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. They offer a range of public and private investment products and services. On behalf of their clients, Brookfield is also an active investor in the public securities markets. Through their SEC-registered investment advisor, Brookfield Investment Management, their public market activities complement their core competencies as a direct investor. These activities encompass global listed real estate and infrastructure equities, corporate high yield investments, opportunistic credit strategies and a dedicated insurance asset management division. Headquartered in New York, NY, Brookfield Investment Management maintains offices and investment teams in Toronto, Chicago, Boston and London.

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, value investing risk, below-investment grade securities risk, fixed-income securities risk, mortgage-backed securities risk, asset-backed securities risk, convertible securities risk, municipal securities risk, non-U.S. securities risk, non-U.S. government securities risk, equity securities risk, currency risk, distressed securities risk, preferred stock risk, inflation/deflation risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder reports and other regulatory filings.

The Fundas 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.