U.S. Bancorp Asset Management, Inc. Announces May Distributions For Closed-End Funds

The closed-end funds listed below, which are advised by U.S. Bancorp Asset Management, Inc., today declared their May distributions. The distributions will be allocated on a per-share basis on the common stock. The distributions have an ex-dividend date of May 1, 2012 and will be paid on May 23, 2012 to shareholders of record on May 3, 2012.

				NYSE			May			Change from
Fund				Symbol			Amount			Previous Month
American Strategic
Income Portfolio				ASP			$0.0700			$(0.0050)
American Strategic
Income Portfolio II				BSP			$0.0475			$(0.0025)
American Strategic
Income Portfolio III				CSP			$0.0375			$0.0000
American Select
Portfolio				SLA			$0.0675			$0.0000
American Income Fund
Fund				MRF			$0.0500			$0.0000
American Municipal
Income Portfolio				XAA			$0.0775			$0.0000
				NYSE Amex			May			Change from
Fund				Symbol			Amount			Previous Month
Minnesota Municipal
Income Portfolio				MXA			$0.0700			$0.0000
Minnesota Municipal
Income Fund II				MXN			$0.0675			$0.0000

ASP, BSP, CSP and SLA distributions are payable in cash or, pursuant to the funds’ dividend reinvestment plans, reinvested in additional shares of the funds’ common stock. Under each fund’s plan, fund shares will be purchased on the open market when the price of the fund’s shares on the New York Stock Exchange plus per share fees is less than a 5% premium over the fund’s most recently calculated net asset value per share. If, at the close of business on the dividend payment date, the shares purchased in the open market are insufficient to satisfy the dividend reinvestment requirement, payment of the dividend, or the remaining portion, will be accepted in authorized but unissued shares of the fund. These shares will be issued at a per-share price equal to the higher of (a) the net asset value per share as of the close of business on the payment date or (b) 95% of the closing market price per share on the payment date.

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