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AMERICAN ADJUSTABLE RATE TERM TRUST INC. -- 1998 FILES A PUBLIC OFFERING

 AMERICAN ADJUSTABLE RATE TERM TRUST INC. -- 1998
 FILES A PUBLIC OFFERING
 MINNEAPOLIS, Dec. 3 /PRNewswire/ -- Piper Capital Management Incorporated announced today that it filed a registration statement with the Securities and Exchange Commission relating to a public offering of American Adjustable Rate Term Trust Inc. -- 1998 (proposed NYSE: DDJ). The trust will be managed by Piper Capital Management Incorporated. The shares will be offered through a group of underwriters led by Piper, Jaffray & Hopwood Incorporated. The anticipated date of the commencement of the offering is the week of Jan. 20, 1992.
 The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A copy of the preliminary prospectus relating to these securities may be obtained from Piper, Jaffray & Hopwood Incorporated, 222 South Ninth Street, Minneapolis, Minnesota 55402.
 NOTE: There are three 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- 12/3/91
 /CONTACT: Lynn James, 612-342-6348, or Kimberly Kaul, 612-342-6384, both of Piper Jaffray & Hopwood/ CO: Piper Capital Management Incorporated ST: Minnesota IN: FIN SU:


KH -- MN008 -- 8896 12/03/91 16:29 EST
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Publication:PR Newswire
Date:Dec 3, 1991
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