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CLOSED-END FUNDS MANAGED BY PIPER CAPITAL MANAGEMENT DECLARE MONTHLY DIVIDENDS

               CLOSED-END FUNDS MANAGED BY PIPER CAPITAL
                  MANAGEMENT DECLARE MONTHLY DIVIDENDS
    MINNEAPOLIS, Dec. 20 /PRNewswire/ -- The following funds declared their final 1991 dividends:
    Fund                            NYSE     Current Month   Previous
                                    Symbol       Amount       Dividend
    American Government Income
     Fund Inc.                       AGF        $0.0640       $0.0900(a)
    American Government Income
     Portfolio Inc.                  AAF        $0.1410       $0.1200(b)
    American Government Term
     Trust Inc.                      AGT        $0.0785       $0.0785
    American Adjustable Rate Term
     Trust Inc. - 1995               ADJ        $0.0645       $0.0700
    American Adjustable Rate Term
     Trust Inc. - 1996               BDJ        $0.0645       $0.0710
    American Adjustable Rate Term
     Trust Inc. - 1997               CDJ        $0.0660       $0.0710
    American Opportunity Income
     Fund Inc.                       OIF        $0.2233       $0.1833(c)
    American Municipal Term
     Trust Inc.                      AXT        $0.0542       $0.0542
    American Municipal Term
     Trust Inc. - II                 BXT        $0.0517       $0.0517
    Minnesota Municipal Term Trust   MNA        $0.0509       $0.0509
   (a) The December monthly dividend for American Government Income (AGF) included a special dividend paid on Dec. 23, 1991, to shareholders of record on Dec. 6, 1991.  The entire $0.0260 special dividend was from net investment income.
    (b) The December monthly dividend for American Government Income Portfolio (AAF) included a special dividend paid on Dec. 23, 1991, to shareholders of record on Dec. 6, 1991.  The entire $0.0400 special dividend was from net investment income.
    (c) The December monthly dividend for American Opportunity Income Fund (OIF) included a special dividend of $0.1000 paid on Dec. 23, 1991, to shareholders of record on Dec. 6, 1991.  The entire $0.1000 special was from net-realized short-term capital gains.
    These dividend amounts are distributed on a per-share basis on the common stock.  The dividends will be paid Jan. 17, 1992, to shareholders of record on Dec. 31, 1991.
    The monthly dividends for American Government Income Portfolio (AAF) and American Opportunity Income Fund (OIF) include a special dividend paid on Jan. 17, 1992, to shareholders of record on Dec. 31, 1991.  The entire $0.0610 special for AAF and $0.1400 special for OIF are from net- realized short-term capital gains.
    American Adjustable Rate Term Trust - 1995 (ADJ), American Adjustable Rate Term Trust - 1996 (BDJ), and American Adjustable Rate Term Trust - 1997 (CDJ), which all invest primarily in adjustable-rate, mortgage-backed securities whose yields change based upon various short- term indexes, are reducing their dividends in line with income earned by the funds in the current interest-rate environment.  The dividend for American Adjustable Rate Term Trust - 1995 (ADJ) also includes net- realized short-term capital gains of $0.0157.
    These funds are managed by Piper Capital Management Incorporated. Based in Minneapolis, Piper Capital Management Incorporated, a full- service money management firm, has more than $5.5 billion under management as of Oct. 31, 1991.  Piper Capital is an independent, wholly owned subsidiary of Piper Jaffray Incorporated, an investment banking firm founded in 1895.
    NOTE:  There are two series of closed-end funds with similar names -- American Adjustable Rate Term Trust - 1995 (ADJ), American Adjustable Rate Term Trust - 1996 (BDJ), and American Adjustable Rate Term Trust - 1997 (CDJ); and American Municipal Term Trust (AXT) and American Municipal Term Trust - II (BXT).  To avoid confusion, please use the full name including the year or roman numeral when referencing this press release.
    -0-                   12/20/91
    /CONTACT:  Kimberly Kaul, 612-342-6384, or Linda Ruhland, 612-342-6280, both of Piper Capital Management/ AL -- MN002 -- 4293 12/20/91 10:58 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 20, 1991
Words:560
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