First Trust/Aberdeen Emerging Opportunity Fund Declares a Quarterly Distribution of $0.35 per Share

First Trust/Aberdeen Emerging Opportunity Fund (the "Fund") (NYSE: FEO) today declared a regularly scheduled quarterly distribution of $0.35 per share. This represents a decrease of $0.04 per share from the $0.39 per share distribution of the previous quarter. The distribution will be payable on June 30, 2009 to shareholders of record as of June 23, 2009. The ex-dividend date is expected to be June 19, 2009. The quarterly distribution information for the Fund appears below.

The distribution will consist of net investment income earned by the Fund and return of capital. The final determination of the source and tax status of all distributions paid in 2009 will be made after the end of 2009.

The Fund is a closed-end management investment company that seeks to provide a high level of total return. The Fund seeks to achieve its investment objective by investing at least 80% of its managed assets in a diversified portfolio of equity and fixed-income securities of issuers in emerging market countries.

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 over $19 billion as of May 31, 2009 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

Aberdeen Asset Management Inc. (“Aberdeen”) serves as the Fund’s investment sub-advisor. Aberdeen is a wholly owned subsidiary of Aberdeen Asset Management PLC which is the parent company of an asset management group managing approximately $143 billion in assets as of April 30, 2009, including approximately $55.8 billion in global fixed-income securities, for a range of pension funds, financial institutions, investment trusts, unit trusts, offshore funds, charities and private clients.

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.

The Fund is exposed to several risks including, but not limited to, the following: No operating history, investment and market risk, management risk, emerging markets risk, equity securities risk, fixed-income securities risk, interest rate risk, non investment-grade securities risk, non-U.S. securities risk, government securities risk, non-U.S. government securities risk, currency risk, preferred stock risk, convertible securities risk, asset-backed securities risk, credit linked notes risk, credit default swaps risk, smaller capitalization risk, market discount from net asset value, leverage risk, derivatives risk, portfolio turnover risk, market disruption risk, inflation risk, and illiquid/restricted securities risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Fund’s daily New York Stock Exchange closing 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.