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PRESS RELEASE                                  SOURCE: First Trust Advisors L.P.


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

WHEATON, IL -- (BUSINESS WIRE) -- September 14, 2018 -- First Trust Advisors
L.P. ("FTA") announced today that Chartwell Investment Partners, LLC
("Chartwell"), investment sub-advisor for First Trust Enhanced Equity Income
Fund (NYSE: FFA) (the "Fund"), will release an update on the market and the Fund
for financial advisors and investors. The update will be available Tuesday,
September 18, 2018, AT 5:00 P.M. EASTERN TIME UNTIL 11:59 P.M. EASTERN TIME ON
WEDNESDAY, OCTOBER 17, 2018. To listen to the update, follow these instructions:

--  Dial: (888) 203-1112; International (719) 457-0820; and Passcode # 4647589.
    The update will be available from Tuesday, September 18, 2018, at 5:00 P.M.
    Eastern Time until 11:59 P.M. Eastern Time on Wednesday, October 17, 2018.

The Fund is a diversified, closed-end management investment company that seeks
to provide a high level of current income and gains and, to a lesser extent,
capital appreciation. The Fund seeks to achieve its investment objective by
investing in a diversified portfolio of equity securities and by writing
(selling) covered call options on a portion of the equity securities in the
fund's portfolio.

First Trust Advisors L.P. ("FTA") is a federally registered investment advisor
and serves as the Fund's investment advisor. FTA and its affiliate First Trust
Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held
companies that provide a variety of investment services. FTA has collective
assets under management or supervision of approximately $134 billion as of
August 31, 2018 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts. FTA is the
supervisor of the First Trust unit investment trusts, while FTP is the sponsor.
FTP is also a distributor of mutual fund shares and exchange-traded fund
creation units. FTA and FTP are based in Wheaton, Illinois.

Chartwell Investment Partners, LLC ("Chartwell") is an investment firm focusing
on institutional, sub-advisory, and private client relationships. The firm is a
research-based equity and fixed-income manager with a disciplined, team-oriented
investment process. As of August 31, 2018, Chartwell had approximately
$9.8 billion in assets under management.

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: Equity securities prices fluctuate for several reasons,
including changes in investors' perceptions of the financial condition of an
issuer or the general condition of the relevant stock market, or when political
or economic events affecting the issuers or their industries occur.

The Fund may write (sell) covered call options on all or a portion of the equity
securities held in the Fund's portfolio. The use of options may require the Fund
to sell portfolio securities at inopportune times or for prices other than
current market values, may limit the amount of appreciation the Fund can realize
on an investment, or may cause the Fund to hold an equity security that it might
otherwise sell.

There is no guarantee that the issuers of the equity securities in which the
Fund invests will declare dividends in the future or that if declared they will
remain at current levels. There can be no assurance as to what portion of the
distributions paid to the Fund's Common Shareholders will consist of
tax-advantaged qualified dividend income.

Investment in non-U.S. securities is subject to the risk of currency
fluctuations and to economic and political risks associated with such foreign
countries.

The risks of investing in the Fund are spelled out in the prospectus,
shareholder report and other regulatory filings.

The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any fiduciary
capacity within the meaning of ERISA and the Internal Revenue Code. First Trust
has no knowledge of and has not been provided any information regarding any
investor. Financial advisors must determine whether particular investments are
appropriate for their clients. First Trust believes the financial advisor is a
fiduciary, is capable of evaluating investment risks independently and is
responsible for exercising independent judgment with respect to its retirement
plan clients.

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.