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AMERICAN STRATEGIC INCOME PORTFOLIO - II OFFERS 18,000,000 SHARES AT $15 PER SHARE

 AMERICAN STRATEGIC INCOME PORTFOLIO - II
 OFFERS 18,000,000 SHARES AT $15 PER SHARE
 MINNEAPOLIS, July 23 /PRNewswire/ -- Piper Capital Management Incorporated announces an offering of 18,000,000 shares of common stock of American Strategic Income Portfolio Inc. - II (NYSE: BSP), a registered investment company whose shares are listed on the New York Stock Exchange and Midwest Stock Exchange at $15 per share. The offering is co-managed by Piper Jaffray Inc.; Kemper Securities Group, Inc.; Advest, Inc.; McDonald & Company Securities, Inc.; Raymond James & Associates, Inc.; and Wedbush Morgan Securities.
 The fund's primary investment objective is to provide a high level of current income; its secondary objective is to seek capital appreciation. The fund will emphasize initially mortgage-relatedligations, unregistered securities and derivative mortgage-backed securities.
 The fund is managed by Piper Capital Management Incorporated, an investment adviser with more than $8.0 billion in assets under management. The firm is a wholly owned subsidiary of Piper Jaffray Companies Inc., a full-service investment firm founded in 1895.
 A prospectus containing more complete information on the American Strategic Income Portfolio - II including all charges and expenses, may be obtained by calling Piper Jaffray Inc. at 1-800-333-6000, ext. 6974. Investors should read the prospectus carefully before investing.
 -0- 7/23/92
 /NOTE: There is another fund with a similar name. American Strategic Income Portfolio (ASP). To avoid confusion, please use the full name including the numeral when referencing this news release.
 /CONTACT: Lynn James, 612-342-6348, or Kimberly Kaul, 612-342-6384, both of Piper Capital Management/
 (BSP) CO: American Strategic Income Portfolio Inc. ST: Minnesota IN: FIN SU: OFR


AL -- MN011 -- 2547 07/23/92 12:49 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
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