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PRESS RELEASE                                SOURCE:  First Trust Advisors L.P.

FIRST TRUST ADVISORS L.P. ANNOUNCES PORTFOLIO MANAGER CONFERENCE CALL FOR FIRST
TRUST INTERMEDIATE DURATION PREFERRED & INCOME FUND

WHEATON, IL -- (BUSINESS WIRE) -- January 13, 2014 -- First Trust Advisors L.P.
("FTA") announced today that First Trust Intermediate Duration Preferred &
Income Fund (NYSE: FPF) (the "Fund") intends to host a conference call with
Stonebridge Advisors LLC, the Fund's investment sub-advisor, on TUESDAY, JANUARY
28, 2014, AT 4:15 P.M. EASTERN TIME. The purpose of the call is to hear the
Fund's portfolio management team provide an update for the Fund.

--    Dial-in Number: (866) 865-6631; International (706) 679-1727; and Passcode
      # 31383903. Please call 10 to 15 minutes before the scheduled start of the
      teleconference.

--    Telephone Replay: (855) 859-2056; International (404) 537-3406; and
      Passcode # 31383903. The replay will be available after the call until
      11:59 P.M. Eastern Time on Friday, February 28, 2014.

FTA, 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 and financial advisory services,
with collective assets under management or supervision of approximately $85
billion as of December 31, 2013, through unit investment trusts, exchange-traded
funds, closed-end funds, mutual funds and separate managed accounts.

Stonebridge Advisors LLC ("Stonebridge"), the Fund's sub-advisor, is a
registered investment advisor specializing in preferred and hybrid securities.
Stonebridge was formed in December 2004 by First Trust Portfolios L.P. and
Stonebridge Asset Management, LLC. The company had assets under management or
supervision of almost $3.5 billion as of December 31, 2013. These assets come
from separately managed accounts, an open-end mutual fund, an actively managed
exchange-traded fund, and the Fund.

If you have questions about the Fund that you would like answered on the call,
please email your questions to cefquestions@ftadvisors.com in advance of the
call and refer to FPF, by Friday, January 24, 2014, 6:00 P.M.

The Fund is a non-diversified, closed-end management investment company that
seeks to provide a high level of current income. The Fund has a secondary
objective of capital appreciation. The Fund seeks to achieve its investment
objectives by investing in preferred and other income-producing securities.
Under normal market conditions, the Fund invests at least 80% of its Managed
Assets in a portfolio of preferred and other income-producing securities issued
by U.S. and non-U.S. companies, including traditional preferred securities,
hybrid preferred securities that have investment and economic characteristics of
both preferred securities and debt securities, floating rate and
fixed-to-floating rate preferred securities, debt securities, convertible
securities, and contingent convertible securities.

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.

Principal Risk Factors: Investment in this Fund involves investment and market
risk, market discount from net asset value risk, management risk, preferred and
hybrid preferred securities risk, trust preferred securities risk, debt
securities risk, credit crisis liquidity and volatility risk, convertible
securities/contingent convertible securities risk, risks of concentration in the
financial sector, government intervention in the financial markets risk, REIT
risk, credit and below investment grade securities risk, credit rating agency
risk, leverage risk, foreign (non-U.S.) securities risk, emerging markets risk,
common stock risk, U.S. government securities risk, foreign government
securities risk, municipal securities risk, illiquid and restricted securities
risk, valuation risk, inflation/deflation risk, potential conflicts of interest
risk, new types of securities risk, counterparty and prime brokerage risk,
portfolio turnover risk, non-diversified shares risk, market disruption,
geopolitical risk, risk related to certain affiliations and anti-takeover
provisions, temporary defensive strategies risk, risks related to the secondary
market for the fund's common shares and risks related to changes in law.

The Fund is designed for long-term investing and not as a vehicle for trading.
Shares of closed-end investment companies frequently trade at a discount from
their net asset value ("NAV"). The Fund cannot predict whether or when its
common shares will trade at, below or above NAV, or at, below or above the
initial public offering price.

Below investment-grade securities, which are commonly referred to as "junk" or
"high-yield" securities, while generally offering higher yields than
investment-grade debt with similar maturities, involve greater risks. These
risks include the possibility of dividend or interest deferral, default or
bankruptcy, and are regarded as predominantly speculative with respect to the
issuer's capacity to pay dividends or interest and repay principal. See "Credit
and Below Investment-Grade Securities Risk" in the "Additional Risk
Considerations" section in the prospectus.

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 related information can be found at www.ftportfolios.com
or by calling 1-800-988-5891.



CONTACT: JEFF MARGOLIN  -  (630) 915-6784

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Source:  First Trust Advisors L.P.