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PRESS RELEASE                                  SOURCE: First Trust Advisors L.P.

FIRST TRUST ADVISORS L.P. ANNOUNCES PORTFOLIO MANAGER UPDATE FOR FIRST TRUST
DYNAMIC EUROPE EQUITY INCOME FUND

WHEATON, IL -- (BUSINESS WIRE) -- April 3, 2017 -- First Trust Advisors L.P.
("FTA") announced today that Henderson Global Investors (North America) Inc.
("Henderson") and Henderson Investment Management Limited, investment
sub-advisors for First Trust Dynamic Europe Equity Income Fund (NYSE: FDEU) (the
"Fund"), will release an update on the market and the Fund for financial
advisors and investors. The update will be available WEDNESDAY, APRIL 5, 2017,
AT 5:00 P.M. EASTERN TIME UNTIL 11:59 P.M. EASTERN TIME ON THURSDAY, MAY 4,
2017. To listen to the update, follow these instructions:

-- Dial: (888) 203-1112; International (719) 457-0820; and Passcode # 6321478.
The update will be available from Wednesday, April 5, 2017, at 5:00 P.M. Eastern
Time until 11:59 P.M. Eastern Time on Thursday, May 4, 2017.

The Fund is a non-diversified, closed-end management investment company that
seeks to provide a high level of current income. As a secondary objective, the
Fund seeks to focus on capital appreciation. The Fund will seek to achieve its
investment objective by investing at least 80% of its Managed Assets in a
portfolio of equity securities of European companies of any market
capitalization, including, but not limited to, common and preferred stocks that
pay dividends, depositary receipts and real estate investment trusts. The Fund
will seek to focus its equity investments on income-producing securities. The
Fund will also seek to utilize a dynamic currency hedging process, which will
include, at the discretion of the portfolio managers, the use of forward foreign
currency exchange contracts to hedge a portion of the Fund's currency exposure.
To generate additional income, the Fund will write (or sell) call options on
portfolio equity securities and certain broad-based securities indices in an
amount up to 40% of the value of its Managed Assets.

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 $104 billion as of February 28, 2017 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual funds and
separate managed accounts.

Henderson serves as the Fund's investment sub-advisor. Henderson is an indirect,
wholly-owned subsidiary of Henderson Group plc ("Henderson Group"), a
London-based global investment management firm that provides a full spectrum of
investment products and services to clients around the world. First Trust
Advisors L.P. and Henderson have engaged Henderson Investment Management
Limited, a registered investment adviser and an indirect, wholly-owned
subsidiary of Henderson Group, as the sub-sub-advisor responsible for certain
investment decisions of the Fund. With offices in 19 cities with more than 1,000
employees, Henderson Group managed approximately $127.4 billion in assets as of
December 31, 2016.





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: The Fund is subject to risks, including the fact that it
is a non-diversified closed-end management investment company.

Because the Fund will invest primarily in securities of non-U.S issuers, which
are generally denominated in non-U.S. currencies, there are risks not typically
associated with investing in securities of U.S. issuers. Non-U.S. issuers are
subject to higher volatility than securities of U.S. issuers. An investor may
lose money if the local currency of a non-U.S. market depreciates against the
U.S. dollar.

Investments in securities of issuers located in emerging market countries are
considered speculative and there is a heightened risk of investing in emerging
markets securities.

The Fund will engage in practices and strategies that will result in exposure to
fluctuations in foreign exchange rates, thus subjecting it to foreign currency
risk.

The Fund's use of derivatives may result in losses greater than if they had not
been used, may require the Fund to sell or purchase portfolio securities at
inopportune times, may limit the amount of appreciation the Fund can realize on
an investment, or may cause the Fund to hold a security that it might otherwise
sell.

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 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 (800) 988-5891.

CONTACT: JEFF MARGOLIN - (630) 915-6784

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Source: First Trust Advisors L.P.