MINNEAPOLIS, Sep 22, 2004 /PRNewswire-FirstCall via COMTEX/ -- U.S. Bancorp Asset Management today declared October distributions for the following funds. The distributions will be allocated on a per-share basis on the common stock. The distributions have an Oct. 1, 2004, ex-dividend date and will be paid on Oct. 27, 2004, to shareholders of record on Oct. 5, 2004.

                                             NYSE       October     September
     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       $0.0500      $0.0500
     American Municipal Income Portfolio      XAA       $0.0780      $0.0780


                                             AMEX       October     September
     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 $122 billion as of June 30, 2004. The firm has offices in 22 states.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the sixth-largest* financial services holding company in the United States as of June 30, 2004, 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 at http://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.

    *Information provided by U.S. Bank Investor Relations.

SOURCE U.S. Bancorp Asset Management, Inc.

U.S. Bancorp Asset Management, Inc. Investor Services,
+1-800-677-FUND

http://usbank.com