Press Release
                              Source:  First Trust Energy Income and Growth Fund


      Wheaton,  IL -- July 25, 2012 -- First Trust Energy Income and Growth Fund
(the  "Fund") (NYSE Amex: FEN) announced that it has commenced a public offering
of  2,800,000  common  shares  of  beneficial interest. The Fund also intends to
grant  the  underwriters  a  45-day  option to purchase up to 420,000 additional
common  shares  to cover over-allotments, if any. Net proceeds from the offering
will  be  used to make additional portfolio investments that are consistent with
the Fund's investment objective and for general corporate purposes.

      Morgan  Stanley,  Citigroup  and  RBC  Capital Markets are acting as joint
book-running managers for the offering. Oppenheimer & Co. and Robert W. Baird &
Co.  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
preliminary  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

                 Prospectus Department
                 Brooklyn Army Terminal
                 140 58th Street, 8th floor
                 Brooklyn, NY  11220
                 Telephone: 800-831-9146

                 RBC Capital Markets, LLC
                 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 preliminary prospectus supplement and
accompanying   base  prospectus  carefully  before  investing.  The  preliminary

prospectus   supplement  and  accompanying  base  prospectus  contain  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, financial
advisory   services,  and  municipal  and  corporate  investment  banking,  with
collective  assets  under management or supervision of approximately $54 billion
as  of  June  30, 2012, through closed-end funds, unit investment trusts, mutual
funds, separate managed accounts and exchange-traded funds.

      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  June  30, 2012, EIP managed or supervised
approximately $1.6 billion in client assets.


Press Inquiries:                  Jane Doyle                630-765-8775
Analyst Inquiries:                Jeff Margolin             630-915-6784
Broker Inquiries:                 Jeff Margolin             630-915-6784

Source: First Trust Energy Income and Growth Fund