MINNEAPOLIS, Nov. 20 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset Management today declared December distributions for the following funds. The distributions will be allocated on a per-share basis on the common stock. The distributions have a Dec. 2, 2002, ex-dividend date and will be paid on Dec. 18, 2002, to shareholders of record on Dec. 4, 2002. The December distributions for American Municipal Term Trust III and Minnesota Municipal Term Trust II were declared in August.

    Fund                                        NYSE      December    November
                                               Symbol      Amount      Amount
    American Strategic Income Portfolio          ASP      $0.0725     $0.0725
    American Strategic Income Portfolio II       BSP      $0.0950     $0.0950
    American Strategic Income Portfolio III      CSP      $0.0875     $0.0875
    American Select Portfolio                    SLA      $0.1000     $0.1000
    American Income Fund                         MRF      $0.0575     $0.0575
    American Municipal Income Portfolio          XAA      $0.0780     $0.0780


    Fund                                        AMEX      December    November
                                               Symbol      Amount      Amount
    Minnesota Municipal Income Portfolio         MXA      $0.0780     $0.0780

Based in Minneapolis, U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank National Association, serves as the investment advisor to the First American Funds. It provides investment management services to individuals and institutions -- including corporations, foundations, pension funds, public funds, and retirement plans -- and has combined assets under management of more than $111 billion as of Sept. 30, 2002. The firm has offices in Minneapolis, Milwaukee, Madison, Cincinnati, St. Louis, Portland, Seattle, and Denver.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the eighth-largest financial services holding company in the United States and a leading provider of comprehensive banking, trust, investment and payment systems products and service. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the Web at usbank.com.

Investment products, including shares of mutual funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal.

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SOURCE U.S. Bancorp Asset Management, Inc.