CHAPMAN & CUTLER LLP
                              111 W. MONROE STREET
                             CHICAGO, ILLINOIS 60603




                                 August 23, 2004



First Trust/Four Corners Senior
  Floating Rate Income Fund II
1001 Warrenville Road
Lisle, Illinois 60532


         Re:  First Trust/Four Corners Senior Floating Rate Income Fund II
              ------------------------------------------------------------
Ladies and Gentlemen:

         We have acted as counsel for First Trust/Four Corners Senior Floating
Rate Income Fund II (the "Fund") in connection with the registration under the
Securities Act of 1933 (the "Act") of certain of its preferred shares of
beneficial interest (the "Shares") covered by Registration Statement No.
333-115414 on Form N-2, as it is proposed to be amended by Pre-Effective
Amendment No. 1 (as proposed to be amended, the "Registration Statement").

         In this connection we have examined originals, or copies certified or
otherwise identified to our satisfaction, of such documents, corporate and other
records, certificates and other papers as we deemed it necessary to examine for
the purpose of this opinion, including the declaration of trust and by-laws of
the Fund, the Statement Establishing and Fixing the Rights and Preferences of
Auction Market Preferred Shares, actions of the board of trustees of the Fund
authorizing the issuance of shares of the Fund and the Registration Statement.

         Based upon the foregoing, we are of the opinion that the Shares, when
issued and sold in accordance with the Registration Statement and the authorized
consideration therefor is received by the Fund, will be legally issued, fully
paid and non-assessable, except that, as indicated in the Registration
Statement, shareholders of the Fund may under certain circumstances be held
personally liable for its obligations.

         In rendering the foregoing opinion, we have relied upon the opinion of
Bingham McCutchen LLP expressed in their letter to us dated August 23, 2004.





First Trust/Four Corners Senior
  Floating Rate Income Fund II
August 23, 2004
Page 2



         We consent to the filing of this opinion as an exhibit to the
Registration Statement. In giving this consent, we do not admit that we are in
the category of persons whose consent is required under section 7 of the Act.


                                Very truly yours,

                                /s/ Chapman and Cutler LLP