First American Asset Management Declares December Distributions for Closed-End Funds

Business Wire, Nov 19, 1999

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 19, 1999--

The following funds are declaring their December distributions, which will be allocated on a per-share basis on the common stock. Distributions for AXT, BXT, CXT, MNA, MNB, XAA and MXA have a December 1, 1999, ex-dividend date and will be paid on December 15, 1999, to shareholders of record on December 3, 1999. Distributions for ASP, BSP, CSP and SLA have a December 13, 1999, ex-dividend date and will be paid on December 27, 1999, to shareholders of record on December 15, 1999. The December distributions of tax-exempt income for AXT, BXT, CXT and MNA were declared in September.

In addition, American Strategic Income Portfolio II (BSP) is declaring a special dividend as a result of earning more than it distributed to shareholders in 1999. This special dividend will be paid at the same time as the December distribution.

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                          NYSE            December           November
Fund                      Symbol          Amount             Amount
----                      ------          ------             ------

American
  Strategic
  Income
  Portfolio               ASP             $0.0850            $0.0850
American
  Strategic
  Income
  Portfolio-II            BSP             $0.0995 (a)        $0.0875
American
  Strategic
  Income
  Portfolio-III           CSP             $0.0875            $0.0875
American
  Select
  Portfolio               SLA             $0.0875            $0.0875
American
  Municipal
  Term Trust              AXT             $0.0026 (b)        $0.0542
American
  Municipal
  Term Trust-II           BXT             $0.0006 (c)        $0.0517
American
  Municipal
  Term Trust-III          CXT             $0.0033 (b)        $0.0475

(a)  Includes a special dividend of $0.0120 from net investment
     income.
(b)  Distribution of long-term gains.
(c)  Includes $0.0001 from taxable net investment income and $0.0005
     from long-term capital gains.


                          NYSE            December           November
Fund                      Symbol          Amount             Amount
Minnesota
  Municipal
  Term Trust              MNA             $0.0020 (d)        $0.0509
American
  Municipal
  Income Portfolio        XAA             $0.0661 (e)        $0.0660


                          AMEX            December           November
Fund                      Symbol          Amount             Amount
Minnesota
  Municipal
  Term Trust-II           MNB             $0.0733 (f)        $0.0492
Minnesota
  Municipal
  Income Portfolio        MXA             $0.06955 (g)       $0.06625

(d)  Distribution of taxable net investment income.
(e)  Includes $0.0660 from tax-exempt net investment income and
     $0.0001 from taxable net investment income.
(f)  Includes $0.0464 from tax-exempt net investment income, $0.0028
     from taxable net investment income and $0.0241 from long-term
     capital gains.
(g)  Includes $0.06625 from tax-exempt net investment income and
     $0.0033 from taxable net investment income.

Based in Minneapolis, First American Asset Management, a division of U.S. Bank National Association, provides investment management services to individuals and institutions, including corporations, foundations, pensions and retirement plans. First American Asset Management manages more than $78 billion in total assets.