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

 MINNEAPOLIS, Dec. 21 /PRNewswire/ -- The following funds declared a final 1992 dividend. These dividend amounts are distributed on a per- share basis on the common stock and will be considered 1992 taxable income. These dividends have a Dec. 24, 1992, ex-dividend date and will be paid on Jan. 15, 1993, to shareholders of record on Dec. 31, 1992.
 TOTAL
 FUND NYSE JANUARY DECEMBER
 SYMBOL DIVIDEND DIVIDEND
 American Adjustable Rate Term
 Trust Inc. -- 1995 ADJ $0.0565(a) $0.0565
 American Adjustable Rate Term
 Trust Inc. -- 1996 BDJ $0.0580 $0.0580
 American Adjustable Rate Term
 Trust Inc. -- 1997 CDJ $0.0580(b) $0.0580
 American Adjustable Rate Term
 Trust Inc. -- 1998 DDJ $0.0590 $0.0590
 American Government Income
 Fund Inc. AGF $0.2363(c) $0.1899(d)
 American Government Income
 Portfolio Inc. AAF $0.5695(e) $0.2712(f)
 American Government Term
 Trust Inc. AGT $0.0785 $0.0785
 American Municipal Term
 Trust Inc. AXT $0.0542 $0.0542
 American Municipal Term
 Trust Inc. -- II BXT $0.0517 $0.0517
 American Municipal Term
 Trust Inc. -- III CXT $0.0475(g) n/a
 American Opportunity Income
 Fund Inc. OIF $0.8848(h) $0.2898(i)
 American Strategic Income
 Portfolio ASP $0.2650(j) $0.1125
 American Strategic Income
 Portfolio Inc. -- II BSP $0.1125 $0.1125
 Minnesota Municipal Term
 Trust Inc. MNA $0.0509 $0.0509
 Minnesota Municipal Term
 Trust Inc. -- II MNB $0.0492 $0.0492
 These funds are managed by Piper Capital Management Incorporated. Piper Capital, a money management firm based in Minneapolis, has more than $9.2 billion under management and is an independent, wholly owned subsidiary of Piper Jaffray Companies, Inc., an investment firm founded in 1895.
 (a) Includes long-term capital gains of $0.0077.
 (b) Includes long-term capital gains of $0.0073.
 (c) Includes a regular income dividend of $0.0640 and a special short-term capital gains dividend of $0.1723.
 (d) December dividend included a regular income dividend declared Nov. 27, 1992 of $0.0640 and a special long-term capital gains dividend declared on Dec. 4, 1992 of $0.1259.
 (e) Includes a regular income dividend of $0.0800, a special short- term capital gains dividend of $0.4095, and a special dividend of income of $0.0800.
 (f) December dividend included a regular income dividend declared Nov. 27, 1992 of $0.0800 and a special long-term capital gains dividend declared on Dec. 4, 1992 of $0.1912.
 (g) First dividend release.
 (h) Includes a regular income dividend $0.0833, a special short- term capital gains dividend $0.7182, and a special dividend of income of $0.0833.
 (i) December dividend included a regular income dividend declared Nov. 27, 1992 of $0.0833 and a special long-term capital gains dividend declared on Dec. 4, 1992 of $0.2065.
 (j) Includes a regular income dividend of $0.1125 and a special dividend of income of $0.1525.
 -0- 12/21/92
 /NOTE: Many of the closed-end funds have similar names. To avoid confusion, please use the full name including the year or Roman numeral when referencing this press release./
 /CONTACT: Linda Ruhland, 612-342-6280, or Linda J. Johnson, 612-342-6244, both of Piper Capital Management/


CO: Piper Capital Management, Piper Jaffray Companies Inc. ST: Minnesota IN: FIN SU: DIV

KH -- MN007 -- 0167 12/21/92 16:11 EST
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Date:Dec 21, 1992
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