U.S. Bancorp Asset Management, Inc., Declares June Distributions For

May 20, 2002

Closed-End Funds

MINNEAPOLIS, May 20 /PRNewswire-FirstCall/ -- June distributions, which will be allocated on a per-share basis on the common stock, are being declared for the following funds.  These distributions have a June 3, 2002, ex-dividend date and will be paid on June 26, 2002, to shareholders of record on June 5, 2002.

    Fund                                    NYSE          June          May
                                           Symbol        Amount        Amount
    American Strategic Income Portfolio      ASP        $0.0950       $0.0950
    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        $0.0730       $0.0730
    Fund                                    AMEX          June          May
                                           Symbol        Amount        Amount
    Minnesota Municipal Term Trust-II        MNB        $0.0492       $0.0492
    Minnesota Municipal Income Portfolio     MXA        $0.0730       $0.0730

Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiary of U.S. Bank National Association.  It provides investment management services to individuals and institutions -- including corporations, foundations, pension funds, public funds, and retirement plans -- and has combined assets under management of $121 billion as of March 31, 2002.  The firm has offices in Minneapolis, Milwaukee, Madison, Cincinnati, St. Louis, Portland, Seattle, and Denver.

U.S. Bancorp Asset Management, Inc., serves as the investment advisor to the First American Funds.  U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the eighth-largest financial services holding company in the United States and a leading provider of comprehensive banking, trust, investment and payment systems products and service.  U.S. Bancorp is the parent company of U.S. Bank.  Visit U.S. Bancorp on the Web at http://www.usbank.com  .

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

Securities products and services are offered through U.S. Bancorp, Inc., member SIPC and NYSE.

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested.



SOURCE  U.S. Bancorp Asset Management, Inc.

    -0-                             05/20/2002

/CONTACT:  Investor Services of U.S. Bancorp Asset Management, Inc., +1-800-677-FUND/

/Web site:  http://www.usbank.com  /


CO:  U.S. Bancorp Asset Management, Inc.; U.S. Bancorp
ST:  Minnesota

-- MNM010 --
4565 05/20/2002 10:26 EDT http://www.prnewswire.com


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