Article: First Trust Tax-Advantaged Preferred Income Fund Decreases Its Quarterly Distribution to $0.21 Per Share.

LISLE, Ill. -- First Trust Tax-Advantaged Preferred Income Fund (the "Fund") (AMEX: FPI) today declared its regularly scheduled quarterly distribution payable on June 30, 2008 to shareholders of record as of June 20, 2008. The ex-dividend date is expected to be June 18, 2008. The quarterly distribution information for the Fund appears below.

 
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The majority of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2008 will be ...

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