MINNEAPOLIS, April 7 /PRNewswire-FirstCall/ -- American Municipal Term Trust III (NYSE: CXT) is declaring final income and capital gain distributions, which will be distributed on a per-share basis on the common stock. This income and capital gain distribution will be paid on April 10, 2003, to shareholders of record on April 7, 2003. The total liquidation value for CXT's shares, which includes this income and capital gain distribution, will be announced on April 7, 2003.

     Distribution from ordinary income -- taxable     $0.0021
     Distribution from tax-exempt income              $0.5139
     Distribution from long-term capital gains        $0.8085

     Total income and capital gain distribution       $1.3245

Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiary of U.S. Bank National Association. It provides investment management services to individuals and institutions -- including corporations, foundations, pension funds, public funds and retirement plans -- and had combined assets under management of $113 billion as of Dec. 31, 2002. The firm has offices in 22 states.

U.S. Bancorp Asset Management, Inc., serves as the investment adviser to the First American Funds. 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 services. U.S. Bancorp is the parent company of U.S. Bank.

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested.

SOURCE U.S. Bancorp Asset Management, Inc. and American Municipal Term Trust