All-American Term Trust Inc. - Distribution Declaration.

NEW YORK--(BUSINESS WIRE)--Feb. 8, 1999--All-American Term Trust Inc. (NYSE:AAT), a closed-end management investment company with an investment objective of providing a high level of current income, consistent with the preservation of capital, today announced that the Trust's Board of Directors has declared a dividend from net investment income of $0.0800 per share. The dividend is payable on February 26, 1999 to shareholders of record as of February 22, 1999. The ex-dividend date is February 18, 1999.

Portfolio Statistics as of January 31, 1999

Composition (% of net assets)       Top Five Sectors (% of net assets)
Corporates             68.74        Municipals              9.07
ARMs/Mortgages         19.11        Finance/Banking         8.98
Municipals              9.07        Energy                  8.74
Treasurys/Agencies      2.22        Cable/Media             8.42
Cash & Cash Equivalents 0.86        Diversified Industrials 6.12
                      100.00

Credit Quality (% of net assets)    Weighted Averages
AAA                    31.26        Maturity                5.30 Years
A                       8.63        Duration                3.79 Years
BBB                    26.74
BB                     10.80
B                      15.93
Non-Rated               5.70
Below B                 0.94
                      100.00