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PIPER CAPITAL MANAGEMENT ANNOUNCES FINANCIAL POSITION FOR CLOSED-END FUNDS

 MINNEAPOLIS, Sept. 1 /PRNewswire/ -- Piper Capital Management announced its financial position for the following closed-end funds for the fiscal quarter ended Aug. 31, 1993.
 PIPER CAPITAL MANAGEMENT
 Aug. 31, 1993
 Net Assets NAV per
 Fund Symbol (000) Share
 American Adjustable Rate Term Trust - 1995 ADJ 108,201 9.74
 American Adjustable Rate Term Trust - 1996 BDJ 258,560 9.60
 American Adjustable Rate Term Trust - 1997 CDJ 488,158 9.66
 American Adjustable Rate Term Trust - 1998 DDJ 550,997 9.66
 American Adjustable Rate Term Trust - 1999 EDJ 327,430 9.60
 American Government Term Trust AGT 79,754 9.89
 American Opportunity Income Fund OIF 236,713 10.88
 American Strategic Income Portfolio ASP 86,093 16.12
 American Strategic Income Portfolio - II BSP 313,093 15.32
 American Strategic Income Portfolio - III CSP 408,842 14.89
 Aug. 31, 1992
 Net Assets NAV per
 Fund Symbol (000) Share
 American Adjustable Rate Term Trust - 1995 ADJ 111,012 9.99
 American Adjustable Rate Term Trust - 1996 BDJ 262,334 9.74
 American Adjustable Rate Term Trust - 1997 CDJ 489,052 9.68
 American Adjustable Rate Term Trust - 1998 DDJ 555,384 9.74
 American Adjustable Rate Term Trust - 1999 EDJ -- --
 American Government Term Trust AGT 78,936 9.79
 American Opportunity Income Fund OIF 238,854 11.33
 American Strategic Income Portfolio ASP 78,615 14.94
 American Strategic Income Portfolio - II BSP 284,046 14.20
 American Strategic Income Portfolio - III CSP -- --
 Aug. 31, 1991
 Net Assets NAV per
 Fund Symbol (000) Share
 American Adjustable Rate Term Trust - 1995 ADJ 108,438 9.76
 American Adjustable Rate Term Trust - 1996 BDJ 259,506 9.64
 American Adjustable Rate Term Trust - 1997 CDJ 211,572 9.68
 American Adjustable Rate Term Trust - 1998 DDJ -- --
 American Adjustable Rate Term Trust - 1999 EDJ -- --
 American Government Term Trust AGT 77,940 9.67
 American Opportunity Income Fund OIF 206,491 9.81
 American Strategic Income Portfolio ASP -- --
 American Strategic Income Portfolio - II BSP -- --
 American Strategic Income Portfolio - III CSP -- --
 These funds are managed by Piper Capital Management Incorporated. Piper Capital, a full-service money management firm based in Minneapolis, has more that $11 billion under management and is an independent, wholly owned subsidiary of Piper Jaffray Companies Inc. (NYSE: PJC), an investment banking firm founded in 1895.
 -0- 9/01/93
 /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: Chelle Gonzo of Piper Capital Management, 612-342-1122/
 (PJC)


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

DB-KH -- MN012 -- 8171 09/01/93 18:37 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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