FAF Advisors, Inc., Announces Financial Positions for Closed-End Funds

October 13, 2009 2:18 PM EDT

MINNEAPOLIS--(BUSINESS WIRE)-- FAF Advisors, Inc. today announced the financial positions for the following closed-end funds for the month of September 30, 2009.

Net investment income and distribution information for the month ended September 30, 2009:

                                                                  Accumulated

                                       Preferred      Net         Undistributed
                       Common
                                       Distributions  Investment  (Distributions
Fund           Symbol  Monthly                                    in
                                       During         Income/     Excess of)
                       Distributions                              Net Investment
                       (a)             Month (b)      Share (c)
                                                                  Income/

                                                                  Share (d)

American
Strategic      ASP     $0.0700         N/A            $0.0703     $0.0592
Income
Portfolio

American
Strategic      BSP     $0.0700         N/A            $0.0534     $0.0595
Income
Portfolio II

American
Strategic      CSP     $0.0550         N/A            $0.0492     $(0.0282)
Income
Portfolio III

American
Select         SLA     $0.0750         N/A            $0.0706     $0.0448
Portfolio

American       MRF     $0.0600         N/A            $0.0627     $0.0872
Income Fund

American
Municipal      XAA     $0.0800         $0.0029        $0.0818     $0.1371
Income
Portfolio

Minnesota
Municipal      MXA     $0.0750         $0.0029        $0.0752     $0.1264
Income
Portfolio

Minnesota
Municipal      MXN     $0.0725         $0.0033        $0.0693     $0.0624
Income Fund
II

N/A = Not Applicable

Financial positions for the month ended September 30, 2009:

                                    Total Assets  Net Assets (e)  NAV (1) per
Fund                        Symbol  (000)
                                                  (000)           Common Share

American Strategic Income   ASP     $70,990       $53,527         $12.65
Portfolio

American Strategic Income   BSP     $252,610      $181,520        $11.36
Portfolio II

American Strategic Income   CSP     $314,590      $225,194        $10.54
Portfolio III

American Select Portfolio   SLA     $185,935      $132,357        $12.41

American Income Fund        MRF     $105,478      $72,950         $7.72

American Municipal Income   XAA     $124,986      $81,399         $14.14
Portfolio

Minnesota Municipal Income  MXA     $91,198       $60,012         $14.47
Portfolio

Minnesota Municipal Income  MXN     $34,187       $21,131         $14.35
Fund II

Financial positions for the month ended September 30, 2008:

                                    Total Assets  Net Assets (e)  NAV (1) per
Fund                        Symbol  (000)
                                                  (000)           Common Share

American Strategic Income   ASP     $63,663       $47,421         $11.21
Portfolio

American Strategic Income   BSP     $240,129      $177,010        $11.07
Portfolio II

American Strategic Income   CSP     $315,771      $237,555        $11.12
Portfolio III

American Select Portfolio   SLA     $173,819      $128,214        $12.03

American Income Fund        MRF     $95,560       $68,967         $7.29

American Municipal Income   XAA     $113,935      $70,265         $12.21
Portfolio

Minnesota Municipal Income  MXA     $82,798       $51,594         $12.44
Portfolio

Minnesota Municipal Income  MXN     $31,443       $18,394         $12.49
Fund II

Financial positions for the month ended September 30, 2007:

                                    Total Assets  Net Assets (e)  NAV (1) per
Fund                        Symbol  (000)
                                                  (000)           Common Share

American Strategic Income   ASP     $69,387       $50,597         $11.96
Portfolio

American Strategic Income   BSP     $258,290      $193,465        $12.10
Portfolio II

American Strategic Income   CSP     $323,828      $257,849        $12.07
Portfolio III

American Select Portfolio   SLA     $188,218      $138,310        $12.97

American Income Fund        MRF     $115,912      $82,417         $8.72

American Municipal Income   XAA     $131,925      $84,291         $14.64
Portfolio

Minnesota Municipal Income  MXA     $93,683       $59,987         $14.47
Portfolio

Minnesota Municipal Income  MXN     $34,931       $21,386         $14.52
Fund II

(1) NAVs are priced as of the close of business on the month-end and year as
    indicated above.

    These distributions were declared on August 21, 2009, had a September 2,
(a) 2009, ex-dividend date, and were paid on September 23, 2009, to shareholders
    of record on September 4, 2009.

(b) Calculated by dividing preferred distributions paid during the month by the
    number of common shares outstanding.

(c) Based on a three-month average.

    Accumulated undistributed (distributions in excess of) net investment income
(d) is reflected in a fund's net asset value. Any reduction of this amount will
    reduce net asset value penny-for-penny.

    The difference between net assets and total assets for XAA, MXA, and MXN is
(e) primarily due to the issuance of preferred stock; net assets reflect common
    stock only. For ASP, BSP, CSP, SLA, and MRF, the difference is primarily due
    to the funds' use of borrowings.

The aforementioned financial data is unaudited. It has, however, been obtained from sources deemed reliable.

The funds' current and cumulative distributions paid this fiscal year are estimated from the following sources: net investment income, net realized gains and return of capital. Distribution estimates comprised of return of capital do not necessarily reflect the funds' investment performance and should not be confused with 'yield' or 'income'. The amounts reflected in this release are only estimates and are not being provided for tax purposes; actual amounts will depend upon the funds' investment experience during the year and may be subject to change based on tax regulations. The final character of the distributions will be reported on Form 1099-DIV for federal income tax purposes.

The funds' investment advisor, FAF Advisors, Inc., is based in Minneapolis, MN and is a subsidiary of U.S. Bank National Association (USBNA). FAF Advisors 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 more than $107 billion as of June 30, 2009. USBNA is a subsidiary of U.S. Bancorp (NYSE: USB). Visit us 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 National Association 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: FAF Advisors, Inc.

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