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AMERICAN MUNICIPAL INCOME PORTFOLIO OFFERS 5,000,000 SHARES; MINNESOTA MUNICIPAL INCOME PORTFOLIO OFFERS 3,600,000 SHARES

 MINNEAPOLIS, June 18 /PRNewswire/ -- Piper Capital Management Incorporated announced an offering of 5,000,000 shares of common stock of American Municipal Income Portfolio (NYSE: XAA), a registered investment company whose shares are listed on the New York Stock Exchange at $15 per share. The offering is co-managed by Piper Jaffray Inc.; Kemper Securities, Inc.; Advest, Inc.; McDonald & Company Securities, Inc.; Raymond James & Associates, Inc.; and Wedbush Morgan Securities.
 American Municipal Income Portfolio's primary investment objective is to provide a high level of current income exempt from regular federal income tax, consistent with preservation of capital. The diversified fund will be comprised entirely of municipal obligations rated investment grade or of comparable quality.
 Piper Capital also announced an offering 3,600,000 shares of common stock of Minnesota Municipal Income Portfolio (AMEX: MXA), a registered investment company whose shares are listed on the American Stock Exchange at $15 per share. The offering is managed by Piper Jaffray Inc.
 Minnesota Municipal Income Portfolio's primary investment objective is to provide a high level of current income exempt from both regular federal and Minnesota personal income taxes, consistent with preservation of capital. The fund will be comprised entirely of municipal obligations rated investment grade or of comparable quality.
 Both funds are managed by Piper Capital Management Incorporated, an investment adviser with more than $11 billion in assets under management. The firm is a wholly owned subsidiary of Piper Jaffray Companies Inc. (NYSE: PJC), an investment firm founded in 1895.
 Prospectuses containing more complete information about American Municipal Income Portfolio and Minnesota Municipal Income Portfolio, including all charges and expenses, may be obtained by calling Piper Jaffray Inc. at 800-333-6000, extension 6974. Investors should read the prospectus carefully before investing.
 -0- 6/18/93
 /CONTACT: Jane Tischer, 612-342-6246, or Kimberly Kaul, 612-342-6384, both of Piper Capital Management Incorporated/


CO: Piper Capital Management Incorporated; American Municipal Income
 Portfolio; Minnesota Municipal Income Portfolio ST: Minnesota IN: FIN SU: OFR


DB -- MN005 -- 3603 06/18/93 13:30 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:332
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