MINNEAPOLIS, Feb 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- U.S. Bancorp Asset Management today declared March distributions for the following funds. The distributions will be allocated on a per-share basis on the common stock. The distributions have a March 1, 2005, ex-dividend date and will be paid on March 23, 2005, to shareholders of record on March 3, 2005.

In addition, American Income Fund (MRF) has decreased its monthly distribution, beginning with the March distribution. This distribution was decreased to more closely reflect current earnings.

Fund                               NYSE        March         February
                                        Symbol      Amount        Amount
     American Strategic Income
      Portfolio                         ASP         $0.0725       $0.0725
     American Strategic Income
      Portfolio II                      BSP         $0.0800       $0.0800
     American Strategic Income
      Portfolio III                     CSP         $0.0800       $0.0800
     American Select Portfolio          SLA         $0.0700       $0.0800
     American Income Fund               MRF         $0.0475       $0.0500
     American Municipal Income
      Portfolio                         XAA         $0.0780       $0.0780



     Fund                               AMEX        March         February
                                        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 Dec. 31, 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 Dec. 31, 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 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.

CONTACT:
Investor Services
U.S. Bancorp Asset Management, Inc.
800-677-FUND