73American Income Fund MRF 85864 59514 6

today announced the financial positions for the followingclosed-end funds for the month of December 31, 2008. Net investment income and distribution information for the month ended December31, 2008: Fund SymbolCommon Preferred NetAccumulatedMonthly DistributionsInvestmentUndistributed Distributions (a) During Income/ Net Investment Month (b)Share (c) Income/ Share (d)American Strategic Income PortfolioASP $0.0650 (e)N/A $0.0654$0.0347 American Strategic Income Portfolio II BSP $0.0600 (f)N/A $0.0868$0.1094 American Strategic Income Portfolio IIICSP $0.0650 (g)N/A $0.0688$0.0105 American Select PortfolioSLA $0.0725 (h)N/A $0.0751$0.0613 American Income Fund MRF $0.0490N/A $0.0502$0.0554 American Municipal Income PortfolioXAA $0.0575$0.0100 $0.0826$0.0245 Minnesota Municipal Income Portfolio MXA $0.0600$0.0112 $0.0757$0.0633 Minnesota Municipal Income Fund II MXN $0.0550$0.0110 $0.0752$0.0051N/A Not Applicable Financial positions for the month ended December 31, 2008: Fund SymbolTotal AssetsNet Assets (i)NAV (1) per(000)(000)Common Share American Strategic Income PortfolioASP $59,105 $46,197 $10.92American Strategic Income Portfolio II BSP $228,968$171,648$10.74American Strategic Income Portfolio IIICSP $300,957$231,863$10.86American Select PortfolioSLA $167,556$125,021$11.73American Income Fund MRF $85,864 $59,514 $6.29 American Municipal Income PortfolioXAA $105,206$59,456 $10.33Minnesota Municipal Income Portfolio MXA $76,670 $45,485 $10.97Minnesota Municipal Income Fund II MXN $29,169 $16,114 $10.94 Financial positions for the month ended December 31, 2007: Fund SymbolTotal AssetsNet Assets (h)NAV (1) per(000)(000)Common Share American Strategic Income PortfolioASP $69,260 $49,286 $11.65American Strategic Income Portfolio II BSP $266,909$188,084$11.77American Strategic Income Portfolio IIICSP $350,125$249,273$11.67American Select PortfolioSLA $198,573$133,243$12.50American Income Fund MRF $113,700$80,769 $8.54 American Municipal Income PortfolioXAA $125,580$79,838 $13.87Minnesota Municipal Income Portfolio MXA $90,130 $58,000 $13.99Minnesota Municipal Income Fund II MXN $34,067 $20,766 $14.10 Financial positions for the month ended December 31, 2006: Fund SymbolTotal AssetsNet Assets (h)NAV (1) per(000)(000)Common Share American Strategic Income PortfolioASP $68,870 $51,603 $12.20American Strategic Income Portfolio II BSP $228,720$194,151$12.15American Strategic Income Portfolio IIICSP $293,031$255,611$11.97American Select PortfolioSLA $179,104$137,378$12.88American Income Fund MRF $114,685$83,472 $8.83 American Municipal Income PortfolioXAA $132,793$88,129 $15.31Minnesota Municipal Income Portfolio MXA $94,525 $62,555 $15.09Minnesota Municipal Income Fund II MXN $35,347 $22,197 $15.07 (1) NAVs are priced as of the close of business on the month-end and year asindicated above. (b) Calculated by dividing preferred distributions paid during the month by thenumber of common shares outstanding (c) Based on a three-month average. (d) Accumulated undistributed net investment income is reflected in a fund's netasset value. Any reduction of this amount will reduce net asset valuepenny-for-penny.

(e) The distribution includes an estimated $0.0620 from net investment incomeand $0.0030 return of capital. (f) The distribution includes an estimated $0.0550 from net investment incomeand $0.0050 return of capital. (g) The distribution includes an estimated $0.0625 from net investment incomeand $0.0025 return of capital. (h) The distribution includes an estimated $0.0700 from net investment incomeand $0.0025 return of capital. (i) The difference between net assets and total assets for XAA, MXA, and MXN isprimarily due to the issuance of preferred stock; net assets reflect commonstock only. For ASP, BSP, CSP, SLA, and MRF, the difference is primarily due tothe funds' use of borrowings The aforementioned financial data is unaudited It has, however, been obtainedfrom sources deemed reliable.

The funds current and cumulative distributions paid this fiscal year areestimated from the following sources: net investment income, net realized gainsand return of capital. Distribution estimates comprised of return of capital donot necessarily reflect the funds investment performance and should not beconfused with yield or income. The amounts reflected in this release areonly estimates are not being provided for tax purposes; actual amounts willdepend upon the funds investment experience during the year and may be subjectto change based on tax regulations. The final character of the distributionswill be reported on Form 1099-DIV for federal income tax purposes. The funds' investment advisor, FAF Advisors, Inc., is based in Minneapolis, MNand is a subsidiary of U.S Bank National Association (USBNA).