First Trust/Four Corners Senior Floating Rate Income Fund II Declares Monthly Common...

First Trust/Four Corners Senior Floating Rate Income Fund II Declares Monthly Common Share Distribution for February of $0.1078 Per Share

LISLE, Ill.--(Business Wire)--First Trust/Four Corners Senior Floating Rate Income Fund II (the
"Fund") (NYSE: FCT) has declared the Fund's regularly scheduled
monthly common share distribution, payable on February 15, 2008 to
shareholders of record on February 5, 2008. The ex-dividend date is
expected to be February 1, 2008. The monthly distribution information
for the Fund appears below.

-0-
*T
First Trust/Four Corners Senior Floating Rate Income Fund II (FCT):
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Distribution per share: $0.1078
Distribution Rate based on the January 18, 2008
NAV of $16.90: 7.65%
Distribution Rate based on the January 18, 2008
closing market price of $15.17: 8.53%
*T

The majority, and possibly all, 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 2008 distributions will be made after the end of 2008.

The Fund is a diversified, closed-end management investment
company. The Fund's primary investment objective is to seek a high
level of current income. As a secondary objective, the Fund attempts
to preserve capital. The Fund pursues these investment objectives by
investing in senior secured U.S. dollar-denominated floating-rate
corporate loans.

First Trust Advisors L.P. acts as the Fund's investment advisor
and currently manages or supervises approximately $33 billion in
assets.

Four Corners Capital Management, LLC, the Fund's sub-adviser
("Four Corners"), structures and manages a variety of alternative
fixed income products with a specialization in senior secured
floating-rate corporate loans. Four Corners serves as investment
manager or sub-adviser to approximately $4 billion in assets across a
variety of retail and institutional products distributed around the
globe.

Past performance is no assurance of future results. Investment
return and principal value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost.

Principal Risk Factor(s): This closed-end fund invests in below
investment grade senior loans. Investment in the Fund involves the
risk that borrowers may default on obligations, or that lenders may
have difficulty liquidating the collateral securing the loans or
enforcing their rights under the terms of the senior loans. Senior
loans are subject to credit risks and the potential for non-payment of
scheduled principal or interest payments, which may result in a
reduction of the Fund's NAV. The use of leverage for investment
purposes increases both investment opportunity and investment risk. In
the event of a default on one or more loans or other interest-bearing
instruments held by the Fund, the use of leverage would exaggerate the
loss to the Fund and may exaggerate the effect on the Fund's NAV.
Please see the Fund's prospectus for additional information on the
risks of investing in the Fund.

The Fund's daily New York Stock Exchange closing price and daily
net asset value, as well as other information are available at
www.ftportfolios.com or by calling 1-800-988-5891.

First Trust/Four Corners Senior Floating Rate Income
Fund II
Press Inquiries:
Jane Doyle, 630-241-8775
or
Analyst Inquiries:
Jeff Margolin, 630-915-6784
or
Broker Inquiries:
Jeff Margolin, 630-915-6784

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