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PRESS RELEASE                                 SOURCE:  First Trust Advisors L.P.


FIRST TRUST ADVISORS L.P. ANNOUNCES PORTFOLIO MANAGER CONFERENCE CALL FOR FIRST
TRUST MORTGAGE INCOME FUND

WHEATON, IL -- (BUSINESS WIRE) -- September 27, 2016 -- First Trust Advisors
L.P. ("FTA") announced today that First Trust Mortgage Income Fund (NYSE: FMY)
(the "Fund") intends to host a conference call with The Mortgage Securities Team
of First Trust, the Fund's portfolio manager, on TUESDAY, OCTOBER 11, 2016 AT
4:15 P.M. EASTERN TIME. The purpose of the call is to hear the portfolio
management team provide an update for the Fund and the Market.

--    Dial-in Number: (800) 319-9003; International (719) 325-2137; and Passcode
      # 835234. Please call 10 to 15 minutes before the scheduled start of the
      teleconference.

--    Telephone Replay: (888) 203-1112; International (719) 457-0820; and
      Passcode # 7552246. The replay will be available after the call until
      11:59 P.M. Eastern Time on Friday, November 11, 2016.

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 $99 billion as of August 31, 2016 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual funds and
separate managed accounts.

If you have questions about the Fund that you would like answered on the call,
please email your questions to cefquestions@ftadvisors.com in advance of the
call and refer to FMY, by Friday, October 7, 2016, 4:15 P.M. Eastern Time.

Principal Risk Factors: 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.

The debt securities in which the Fund invests are subject to certain risks,
including issuer risk, reinvestment risk, prepayment risk, credit risk, and
interest rate risk. Issuer risk is the risk that the value of fixed-income
securities may decline for a number of reasons which directly relate to the
issuer. Reinvestment risk is the risk that income from the Fund's portfolio will
decline if the Fund invests the proceeds from matured, traded or called bonds at
market interest rates that are below the Fund portfolio's current earnings rate.
Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt
on which the Fund derives interest income will be reduced. Credit risk is the
risk that an issuer of a security will be unable or unwilling to make dividend,
interest and/or principal payments when due and that the value of a security may
decline as a result. Interest rate risk is the risk that fixed-income securities
will decline in value because of changes in market interest rates.

A portion of the Fund's managed assets may be invested in subordinated classes
of mortgage-backed securities. Such subordinated classes are subject to a
greater degree of non-payment risk than are senior classes of the same issuer or
agency.

Use of leverage can result in additional risk and cost, and can magnify the
effect of any losses.

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.


CONTACT:  JEFF MARGOLIN - (630) 915-6784


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Source:  First Trust Advisors L.P.