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AMERICAN STRATEGIC INCOME PORTFOLIO -- III OFFERS 24,000,000 SHARES AT $15 PER SHARE

 MINNEAPOLIS, March 19 /PRNewswire/ -- Piper Capital Management Incorporated announces an offering of 24,000,000 shares of common stock of American Strategic Income Portfolio -- III (NYSE: CSP), 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.; Crowell, Weedon & Co.; 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 initially emphasize mortgage-related assets. The balance will be invested in asset-backed securities, U.S. government securities, corporate debt securities, municipal obligations, unregistered securities, and derivative mortgage-backed securities.
 The fund is managed by Piper Capital Management Incorporated, an investment adviser with more than $9 billion in assets under management. The firm is a wholly owned subsidiary of Piper Jaffray Companies Inc., an investment firm founded in 1895.
 A prospectus containing more complete information about American Strategic Income Portfolio -- III, 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- 3/19/93
 /NOTE: There are two other funds with similar names: American Strategic Income Portfolio (ASP) and American Strategic Income Portfolio -- II (BSP). To avoid confusion, please use the full name including the numeral when referencing this press release/
 /CONTACT: Jane Tischer, 612-342-6246, or Kimberly Kaul, 612-342-6384, both of Piper Capital Management/


CO: Piper Jaffray Companies Inc.; Piper Capital Management; American
 Strategic Income Portfolio ST: Minnesota IN: FIN SU: OFR


AL -- MN003 -- 7816 03/19/93 10:14 EST
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Publication:PR Newswire
Date:Mar 19, 1993
Words:282
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