ASP, BSP, CSP, SLA Board of Directors Announces It Will Not Pursue Merger or Reorganization of Funds.MINNEAPOLIS -- The Board of Directors of American Strategic Income Portfolio Inc. (ASP), American Strategic Income Portfolio Inc.--II (BSP BSP Bromsulphalein, a dye used in the study of liver function. See also sulfobromophthalein clearance test. ), American Strategic Income Portfolio Inc.--III (CSP) and American Select Portfolio Inc. (SLA) (together, the funds), in consultation with U.S. Bancorp Asset Management, the investment adviser to the funds, announced today that it does not intend to pursue any merger or other reorganization of the four closed-end funds at this time. The board had previously announced that it was exploring the possibility of combining the funds into a single, closed-end fund. Based in Minneapolis, U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank National Association, serves as the investment advisor to the First American Funds. 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 Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of more than $121.9 billion as of Sept. 30, 2005. U.S. Bank National Association is a separate entity and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of U.S. Bancorp (NYSE NYSE See: New York Stock Exchange :USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. ), the sixth-largest(a) financial services holding company in the United States as of Sept. 30, 2005, 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 at usbank.com. Investment products, including shares of closed-end 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 Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal. (a) Information provided by U.S. Bank Investor Relations. |
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