First American Asset Management Announces Financial Positions for Closed-End Funds.

MINNEAPOLIS--(BUSINESS WIRE)--July 12, 1999--

First American First American may refer to:

First American (comics), A superhero from America's Best Comics
First American, a division of the now-defunction Bank of Credit and Commerce International.

Asset Management announced the financial positions for the following closed-end funds Closed-end fund

An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. for the month ended June 30, 1999.

Net investment income and distribution information for the month ended June 30, 1999: -0-


                                        Preferred
                       Common           Distributions
                       Monthly          During
Fund           Symbol  Distributions(a) Month (b)
American
Municipal
Term Trust     AXT     $0.0542          $0.0127

American
Municipal
Term Trust II  BXT     $0.0517          $0.0139

American
Municipal
Term Trust III CXT     $0.0475          $0.0121

Minnesota
Municipal
Term Trust     MNA     $0.0509          $0.0136

Minnesota
Municipal
Term Trust II  MNB     $0.0492          $0.0123

American
Municipal
Income
Portfolio      XAA    $0.06275          $0.0187

Minnesota
Municipal
Income
Portfolio      MXA    $0.06625          $0.0193




                                      Accumulated
                         Net          Undistributed
                         Investment   Net Investment
                         Income/      Income/
Fund           Symbol    Share (c)    Share (d)
American
Municipal
Term Trust     AXT     $0.0733          $0.8188

American
Municipal
Term Trust II  BXT     $0.0734          $0.8015

American
Municipal
Term Trust III CXT     $0.0675          $0.6317

Minnesota
Municipal
Term Trust     MNA     $0.0667          $0.7478

Minnesota
Municipal
Term Trust II  MNB     $0.0624          $0.5865

American
Municipal
Income
Portfolio      XAA     $0.0847          $0.0751

Minnesota
Municipal
Income
Portfolio      MXA     $0.0853          $0.2441

                                                       Accumulated
                                          Net          Undistributed
                      Common              Investment   Net Investment
                      Monthly             Income/      Income/
Fund          Symbol  Distributions(a)    Share (c)    Share (d)
American
Strategic
Income
Portfolio      ASP   $0.0850             $0.0875      $0.1034

American
Strategic
Income
PortfolioII    BSP   $0.0850             $0.0902      $0.1297

American
Strategic
Income
PortfolioIII   CSP   $0.0850             $0.0855      $0.1210

American
Select
Portfolio      SLA   $0.0875             $0.0863      $0.0850

  Financial positions for the month ended June 30, 1999:
                          Total Assets   Net Assets(e)  NAV per
Fund         Symbol        (000)           (000)        Common Share

American
Municipal
Term Trust    AXT         $135,906        $93,326       $11.04

American
Municipal
Term TrustII  BXT         $119,082        $82,043       $11.15

American
Municipal
Term TrustIII CXT          $85,278        $58,659       $11.07

Minnesota
Municipal
Term Trust    MNA          $96,112        $61,433       $10.72

Minnesota
Municipal
Term TrustII  MNB          $59,226        $36,382       $10.52

American
Municipal
Income
Portfolio     XAA         $126,214        $82,661       $14.36

Minnesota
Municipal
Income
Portfolio     MXA          $90,622        $59,472       $14.34

American
Strategic
Income
Portfolio     ASP          $84,870        $58,887       $12.52

American
Strategic
Income
PortfolioII   BSP       $329,476       $225,908       $12.72

American
Strategic
Income
PortfolioIII  CSP      $419,036       $287,940       $12.10

American
Select
Portfolio     SLA         $219,474       $152,073       $12.82



  Financial positions for the month ended June 30, 1998:
                         Total Assets  Net Assets(e)    NAV per
Fund         Symbol          (000)          (000)     Common Share

American
Municipal
Term Trust    AXT         $145,415        $97,037       $11.48

American
Municipal
Term TrustII  BXT         $123,076        $85,166       $11.58

American
Municipal
Term TrustIII CXT          $87,971        $60,479       $11.41

Minnesota
Municipal
Term Trust    MNA          $95,170        $64,709       $11.29

Minnesota
Municipal
Term TrustII  MNB          $57,323        $37,944       $10.97

American
Municipal
Income
Portfolio     XAA         $129,453        $85,843       $14.91

Minnesota
Municipal
Income
Portfolio     MXA          $94,059        $61,900       $14.93

American
Strategic
Income
Portfolio     ASP          $77,490        $61,347       $12.99

American
Strategic
Income
PortfolioII   BSP         $308,122       $234,579       $13.07

American
Strategic
Income
PortfolioII   CSP         $407,275       $299,532       $12.44

American
Select
Portfolio     SLA         $202,760       $154,518       $12.92

  Financial positions for the month ended June 30, 1997:
                        Total Assets   Net Assets(e)    NAV per
 Fund        Symbol          (000)          (000)      Common Share

American
Municipal
Term Trust    AXT         $140,768        $97,184       $11.49

American
Municipal
Term TrustII  BXT         $122,761        $84,444       $11.48

American
Municipal
Term TrustIII CXT          $85,373        $58,736       $11.08

Minnesota
Municipal
Term Trust    MNA          $92,972        $64,119       $11.18

Minnesota
Municipal
Term TrustII  MNB          $54,646        $37,268       $10.77

American
Municipal
Income
Portfolio     XAA         $124,858        $81,255       $14.12

Minnesota
Municipal
Income
Portfolio     MXA          $88,197        $57,097       $14.15

American
Strategic
Income
Portfolio     ASP          $77,623        $66,501       $12.67

American
Strategic
Income
PortfolioII   BSP         $343,797       $255,153       $12.80

American
Strategic
Income
PortfolioIII  CSP         $422,443       $326,779       $12.22

American
Select
Portfolio     SLA         $238,912       $167,612       $12.62

(a) These distributions were declared on May 21, 1999. They had a

June 1, 1999, ex-dividend date Ex-dividend date

The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. and were paid on June 23, 1999, to

shareholders of record on June 3, 1999.

(b) Calculated by dividing preferred distributions paid during the

month by the number of common shares outstanding.

(c) Based on a three-month average.

(d) Accumulated ac·cu·mu·late
v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates

v.tr.
To gather or pile up; amass. See Synonyms at gather.

v.intr.
To mount up; increase. , undistributed Adj. 1. undistributed - (of investments) not distributed among a variety of securities
undiversified - not diversified net investment income is reflected in

a fund's net asset value. Any reduction of this amount will

reduce net asset value penny for penny.

(e) The difference between net assets Net assets

The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand.

net assets

See owners' equity. and total assets for AXT AXT Alternating Exotropia , BXT BXT Benzene, Xylene and Toluene ,

CXT CXT Crazy Town (band)
CXT Commercial Extreme Truck (International/Navistar)
CXT Conventional Xmas Tree (oilfield production equipment)
CXT Cellular Extension
CXT Context , MNA MNA Monitored Natural Attenuation
MNA Massachusetts Nurses Association
MNA Michigan Nonprofit Association
MNA Mini-Nutritional Assessment
MNA Mission to North America (Presbyterian Church in America outreach) , MNB MNB Magyar Nemzeti Bank (National Bank of Hungary)
MNB Multi-National Brigade (NATO)
MNB Mint Condition, No Box
MNB Metropolitan National Bank
MNB Michigan National Bank
MNB Merchants' National Bank , XAA XAA Xfree86 Acceleration Architecture
XAA Unspecified Amino Acid and MXA MXA McIntosh Xaba and Associates
MXA Malcolm X Academy (Detroit, Michigan)
MXA Mobile Exercise Area is primarily due to the issuance of

preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.

Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. ; net assets reflect common stock only. For ASP,

BSP BSP

Bromsulphalein, a dye used in the study of liver function. See also sulfobromophthalein clearance test. , CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP.

(2) (Commerce Service P and SLA (1) (StereoLithography Apparatus) See 3D printing.

(2) (Service Level Agreement) A contract between the provider and the user that specifies the level of service expected during its term. , the difference is primarily due to the funds'

use of borrowings.

Based in Minneapolis, First American Asset Management, a division of U.S. Bank National Association, provides investment management services to individuals and institutions, including corporations, foundations, pensions and retirement plans. First American Asset Management manages approximately $81 billion in total assets.

Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank including U.S. Bank or any of its affiliates, 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.

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