U.S. Bancorp Asset Management, Inc., Declares August Distributions For Closed-End Funds

July 19, 2002

MINNEAPOLIS, July 19 /PRNewswire-FirstCall/ -- U.S. Bancorp AssetManagement today declared August distributions for the following funds. Thedistributions will be allocated on a per-share basis on the common stock. Thedistributions have an Aug. 1, 2002, ex-dividend date and will be paid onAug. 28, 2002, to shareholders of record on Aug. 5, 2002.

Fund NYSE August July
Symbol Amount Amount

American Strategic Income Portfolio ASP $0.0725 $0.0725

American Strategic Income Portfolio II BSP $0.0950 $0.0950

American Strategic Income Portfolio III CSP $0.0875 $0.0875

American Select Portfolio SLA $0.1000 $0.1000

American Income Fund MRF $0.0575 $0.0575

American Municipal Term Trust III CXT $0.0475 $0.0475

American Municipal Income Portfolio XAA $0.0780 $0.0780

Fund AMEX August July
Symbol Amount Amount

Minnesota Municipal Term Trust II MNB $0.0492 $0.0492

Minnesota Municipal Income Portfolio MXA $0.0780 $0.0780

Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiaryof U.S. Bank National Association. It provides investment management servicesto individuals and institutions -- including corporations, foundations,pension funds, public funds, and retirement plans -- and has combined assetsunder management of $116.9 billion as of June 30, 2002. The firm has officesin Minneapolis, Milwaukee, Madison, Cincinnati, St. Louis, Portland, Seattle,and Denver.

U.S. Bancorp Asset Management, Inc., serves as the investment advisor tothe First American Funds. U.S. Bank National Association is a separate entityand wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the eighth-largestfinancial services holding company in the United States and a leading providerof comprehensive banking, trust, investment and payment systems products andservice. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorpon the Web at usbank.com.

Investment products, including shares of mutual funds, are not obligationsof, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorpaffiliate, nor are they insured by the Federal Deposit Insurance Corporation,the Federal Reserve Board, or any other agency. An investment in suchproducts involves investment risk, including possible loss of principal.

Nondeposit investment products are not insured by the FDIC, are notdeposits or other obligations of or guaranteed by U.S. Bank NationalAssociation or its affiliates, and involve investment risks, includingpossible loss of the principal amount invested.
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