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Piper Capital Management Declares December Distributions for Closed-End Funds.

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 22, 1996--The following funds are declaring their December distributions, which will be allocated on a per-share basis on the common stock. These distributions have a December 2, 1996, ex-dividend date and will be paid on December 18, 1996, to shareholders of record on December 4, 1996. -0-

 NYSE December November
Fund Symbol Amount Amount

American
 Government
 Income Fund AGF $0.0300 $0.0300
American
 Government
 Income
 Portfolio AAF $0.0350 $0.0350
American
 Opportunity
 Income Fund OIF $0.0370 $0.0370
American
 Strategic
 Income
 Portfolio ASP $0.0800 $0.0800
American
 Strategic
 Income
 Portfolio-II BSP $0.0825 $0.0825
American
 Strategic
 Income
 Portfolio-III CSP $0.0825 $0.0825
American
 Select
 Portfolio SLA $0.1050 (a) $0.0850
American
 Municipal
 Income
 Portfolio XAA $0.06275 $0.06275


 NYSE December November
Fund Symbol Amount Amount

American
 Municipal
 Term Trust AXT $0.0542 $0.1072 (b)
American
 Municipal
 Term Trust-II BXT $0.0517 $0.0826 (c)
American
 Municipal
 Term Trust-III CXT $0.0505 (d) $0.0475
Minnesota
 Municipal
 Term Trust MNA $0.0579 (e) $0.0536 (f)
The Americas
 Income Trust XUS $0.0500 $0.0500 (g)


 AMEX December November
Fund Symbol Amount Amount

Minnesota
 Municipal
 Income
 Portfolio MXA $0.063125 $0.063125
Minnesota
 Municipal
 Term Trust-II MNB $0.0492 $0.0591 (h)
Highlander
 Income Fund HLA $0.0940 $0.0940


-0-

(a) Includes $0.0200 of additional net investment income, which is being distributed to avoid the payment of federal excise taxes by the fund.

(b) Includes $0.0542 from net investment income and $0.0530 from long-term capital gains.

(c) Includes $0.0517 from net investment income and $0.0309 from long-term capital gains.

(d) Includes $0.0475 from net investment income and $0.0030 from long-term capital gains.

(e) Includes $0.0509 from net investment income and $0.0070 from long-term capital gains.

(f) Includes $0.0509 from net investment income and $0.0027 from long-term capital gains.

(g) Beginning with the November distribution, the fund's Dividend Committee reduced the monthly distribution in response to the fund's lower investment income.

(h) Includes $0.0492 from net investment income and $0.0099 from long-term capital gains.

Piper Capital Management Incorporated, a money management firm based in Minneapolis, manages numerous open- and closed-end funds. It is a wholly owned subsidiary of Piper Jaffray Companies Inc., an investment firm founded in 1895.

CONTACT: Chad LaTour, 612/342-1162
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Publication:Business Wire
Date:Nov 22, 1996
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