MINNEAPOLIS, Aug. 22 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset Management (NYSE: USB) today declared September distributions for the following funds. The distributions will be allocated on a per-share basis on the common stock. The distributions have a Sept. 1, 2003, ex-dividend date and will be paid on Sept. 24, 2003, to shareholders of record on Sept. 3, 2003.

                                   NYSE     September    August
    Fund                           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      $0.0875      $0.0875
    American Income
     Fund                          MRF      $0.0550      $0.0550
    American Municipal
     Income Portfolio              XAA      $0.0780      $0.0780


                                  AMEX     September     August
    Fund                          Symbol   Amount        Amount

    Minnesota Municipal
     Income Portfolio             MXA      $0.0780       $0.0780
    Minnesota Municipal
     Income Fund II               MXN      $0.06625      $0.06625

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 $123 billion as of June 30, 2003. The firm has offices in 22 states.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp, 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 closed-end 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.

SOURCE U.S. Bancorp Asset Management, Inc.