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Minnesota Municipal Term Trust II Declares Final Distribution from Income And Capital Gains

MINNEAPOLIS, April 7 /PRNewswire-FirstCall/ -- Minnesota Municipal Term Trust II (Amex: MNB) 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 MNB's shares, which includes this income and capital gain distribution, will be announced on April 7, 2003.

     Distribution from ordinary income -- taxable      $0.0049
     Distribution from tax-exempt income               $0.3561
     Distribution from long-term capital gains         $0.5793

     Total income and capital gain distribution        $0.9403

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 Minnesota Municipal Term Trust

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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