All-American Term Trust Inc. Share Repurchase Program Announcement.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 20, 1999 All-American Term Trust Inc. (NYSE NYSE See: New York Stock Exchange : AAT Alpha-1-antitrypsin (AAT) A blood component that breaks down infection-fighting enzymes such as elastase. Mentioned in: Chronic Obstructive Lung Disease ) ("Fund"), a diversified, closed-end management investment company, today announced that the Fund's Board of Directors has authorized the Fund to repurchase up to 10% of the Fund's outstanding shares of common stock. The repurchases are aimed at reducing the Fund's discount to its net asset value and increasing its return to stockholders. The Board has authorized the Fund's investment adviser, Mitchell Hutchins Asset Management Inc., to implement the share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program. It is anticipated that the share repurchase program will commence immediately. As of December 17, 1999, the Fund's net asset value per share was $13.03 and its market price per share was $11.6875, a 10.3% discount to the Fund's net asset value. All-American Term Trust Inc. seeks to achieve a high level of current income consistent with the preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at by investing primarily in investment grade and high-yield corporate bonds, mortgage-backed securities, asset-backed securities, U.S. government securities, and zero coupon municipal bonds rated AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. . |
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