FAB First Trust Multi Cap Value AlphaDEX Fund

Rule 497(e)

SUPPLEMENT TO THE PROSPECTUS
Dated October 31, 2008

FIRST TRUST EXCHANGE-TRADED FUND

First Trust Amex(R) Biotechnology Index Fund
First Trust DB Strategic Value Index Fund,
First Trust Dow Jones Internet Index(SM) Fund
First Trust Dow Jones Select MicroCap Index(SM) Fund
First Trust IPOX-100 Index Fund
First Trust ISE Chindia Index Fund
First Trust ISE-Revere Natural Gas Index Fund
First Trust ISE Water Index Fund
First Trust Morningstar(R) Dividend Leaders(SM) Index Fund
First Trust NASDAQ-100 Equal Weighted Index(SM) Fund
First Trust NASDAQ-100 Ex-Technology Sector Index(SM) Fund
First Trust NASDAQ-100-Technology Sector Index(SM) Fund
First Trust NASDAQ(R) Clean Edge(R) U.S. Liquid Series Index Fund
First Trust S&P REIT Index Fund
First Trust Value Line (R)100 Exchange-Traded Fund
First Trust Value Line(R) Dividend Index Fund
First Trust Value Line(R) Equity Allocation Index Fund

FIRST TRUST EXCHANGE-TRADED FUND II

First Trust DJ STOXX(R) Select Dividend 30 Index Fund and First Trust FTSE EPRA/NAREIT Global Real Estate Index Fund First Trust Dow Jones Global Select Dividend Index Fund First Trust ISE Global Engineering and Construction Index Fund First Trust ISE Global Wind Energy Index Fund

FIRST TRUST EXCHANGE-TRADED ALPHADEX(R) FUND

First Trust Large Cap Core AlphaDEX(R) Fund First Trust Mid Cap Core AlphaDEX(R) Fund First Trust Small Cap Core AlphaDEX(R) Fund First Trust Large Cap Growth Opportunities AlphaDEX(R) Fund First Trust Large Cap Value Opportunities AlphaDEX(R) Fund First Trust Multi Cap Growth AlphaDEX(R) Fund First Trust Multi Cap Value AlphaDEX(R) Fund First Trust Consumer Discretionary AlphaDEX(R) Fund First Trust Consumer Staples AlphaDEX(R) Fund First Trust Energy AlphaDEX(R) Fund First Trust Financials AlphaDEX(R) Fund First Trust Health Care AlphaDEX(R) Fund First Trust Industrials/Producer Durables AlphaDEX(R) Fund First Trust Materials AlphaDEX(R) Fund First Trust Technology AlphaDEX(R) Fund First Trust Utilities AlphaDEX(R) Fund

(collectively, the "Funds")

The principal office address and telephone number of the Funds, First Trust Advisors L.P. (the Funds' investment adviser) and First Trust Portfolios L.P. (the Funds' principal underwriter) have changed to 120 East Liberty Drive, Wheaton, Illinois 60187 and (800)-621-1675, respectively.

PLEASE KEEP THIS SUPPLEMENT WITH YOUR FUND PROSPECTUS FOR FUTURE REFERENCE

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