Article: First Trust/Value Line(R) & Ibbotson Equity Allocation Fund Declares Regularly Scheduled Semi-Annual Distribution of $0.02 Per Share. The Fund Will Also Distribute a Short-Term Capital Gain Distribution of $1.25 Per Share.

LISLE, Ill. -- First Trust/Value Line(R) & Ibbotson Equity Allocation Fund (the "Fund") (AMEX:FVI) declared today its regularly scheduled semi-annual distribution of $0.02 per share as well as a short-term capital gain distribution of $1.25 per share.

The distributions will be payable on June 15, 2006 to shareholders of record on June 5, 2006, with an expected ex-dividend date of June 1, 2006. The final determination of the source and tax status of all distributions paid in 2006 will be made after the end of 2006.

The Fund is a closed-end management investment company designed to provide investors with the potential for capital appreciation. Ibbotson ...

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