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AMERICAN ADJUSTABLE RATE TERM TRUST -- 1998 OFFERS 16 MILLION SHARES AT $10 PER SHARE

AMERICAN ADJUSTABLE RATE TERM TRUST -- 1998 OFFERS 16 MILLION SHARES
 AT $10 PER SHARE
 MINNEAPOLIS, April 15 /PRNewswire/ -- Piper Capital Management Incorporated announces an additional offering of 16 million shares of American Adjustable Rate Term Trust Inc. -- 1998 (NYSE: DDJ), a registered investment company whose shares are listed on the New York Stock Exchange at $10 per share. The offering is co-managed by Piper Jaffray Inc.; Kemper Securities Group, Inc.; Advest, Inc.; McDonald & Company Securities, Inc.; Raymond James & Associates, Inc.; and Wedbush Morgan Securities.
 The fund's investment objectives are to provide a high level of current income and to return $10 per share to investors on or about March 31, 1998. The fund will invest primarily in mortgage-backed securities that have adjustable interest rates.
 The fund is managed by Piper Capital Management Incorporated, based in Minneapolis. Founded in 1985, Piper Capital, a full-service money management firm, has more than $7 billion under management as of March 31, 1992. Piper Capital is an independent, wholly owned subsidiary of Piper Jaffray Companies Inc., an investment banking firm founded in 1895.
 A prospectus containing more complete information on the American Adjustable Rate Term Trust Inc. -- 1998, including all charges and expenses, may be obtained by calling Piper Jaffray Inc., at 1-800-333-6000, extension 6974. Piper Jaffray is located in the Piper Jaffray Tower, 222 South Ninth Street, Minneapolis, Minn., 55402-3804. Investors should read the prospectus carefully before investing.
 NOTE: There are three other closed-end funds with similar names -- American Adjustable Rate Term Trust Inc. -- 1995 (ADJ), American Adjustable Rate Term Trust Inc. -- 1996 (BDJ) and American Adjustable Rate Term Trust Inc. -- 1997 (CDJ). To avoid confusion, please use the full name including the year when referencing this press release.
 -0- 4/15/92
 /CONTACT: Lynn James of Piper Capital Management, 612-342-6348/
 (DDJ) CO: Piper Capital Management Incorporated ST: Minnesota IN: FIN SU: OFR


KH -- MN006 -- 8668 04/15/92 11:57 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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