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

MINNEAPOLIS--(Business Wire)--
FAF Advisors, Inc. today announced the financial positions for the following
closed-end funds for the month of April 30, 2009.

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

Fund Symbol Common Preferred Net Accumulated
Monthly Distributions Investment Undistributed

Distributions (a)
During
Income/
Net Investment

Month (b)
Share (c)
Income/

Share (d)
American Strategic Income Portfolio ASP $0.0650 (e) N/A $0.0706 $0.0322
American Strategic Income Portfolio II BSP $0.0600 (f) N/A $0.0592 $0.1081
American Strategic Income Portfolio III CSP $0.0600 (g) N/A $0.0621 $0.0037
American Select Portfolio SLA $0.0725 (h) N/A $0.0710 $0.0450
American Income Fund MRF $0.0525 N/A $0.0556 $0.0715
American Municipal Income Portfolio XAA $0.0700 $0.0045 $0.0841 $0.0731
Minnesota Municipal Income Portfolio MXA $0.0700 $0.0045 $0.0738 $0.0767
Minnesota Municipal Income Fund II MXN $0.0600 $0.0053 $0.0753 $0.0526

N/A = Not Applicable

Financial positions for the month ended April 30, 2009:

Fund Symbol Total Assets Net Assets (i) NAV (1) per
(000) (000) Common Share
American Strategic Income Portfolio ASP $63,288 $48,277 $11.41
American Strategic Income Portfolio II BSP $230,002 $174,512 $10.92
American Strategic Income Portfolio III CSP $297,042 $226,919 $10.63
American Select Portfolio SLA $169,683 $125,271 $11.75
American Income Fund MRF $98,365 $63,563 $6.72
American Municipal Income Portfolio XAA $113,010 $69,397 $12.06
Minnesota Municipal Income Portfolio MXA $84,959 $52,810 $12.74
Minnesota Municipal Income Fund II MXN $31,624 $18,576 $12.61

Financial positions for the month ended April 30, 2008:

Fund Symbol Total Assets Net Assets (i) NAV (1) per
(000) (000) Common Share
American Strategic Income Portfolio ASP $68,534 $50,429 $11.92
American Strategic Income Portfolio II BSP $266,518 $189,686 $11.87
American Strategic Income Portfolio III CSP $354,936 $251,737 $11.79
American Select Portfolio SLA $191,392 $133,321 $12.50
American Income Fund MRF $105,937 $77,559 $8.20
American Municipal Income Portfolio XAA $122,682 $79,088 $13.74
Minnesota Municipal Income Portfolio MXA $95,340 $58,111 $14.01
Minnesota Municipal Income Fund II MXN $33,702 $20,658 $14.03

Financial positions for the month ended April 30, 2007:

Fund Symbol Total Assets Net Assets (i) NAV (1) per
(000) (000) Common Share
American Strategic Income Portfolio ASP $65,486 $52,637 $12.44
American Strategic Income Portfolio II BSP $249,061 $197,287 $12.34
American Strategic Income Portfolio III CSP $335,057 $258,652 $12.11
American Select Portfolio SLA $174,260 $140,815 $13.21
American Income Fund MRF $107,151 $84,296 $8.92
American Municipal Income Portfolio XAA $133,870 $87,805 $15.25
Minnesota Municipal Income Portfolio MXA $95,179 $62,596 $15.10
Minnesota Municipal Income Fund II MXN $35,504 $22,189 $15.07

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

(a) These distributions were declared on March 20, 2009, had an April 1, 2009, ex-dividend date, and were paid on April 22, 2009, to shareholders of record on April 3, 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.
(d) Accumulated undistributed net investment income is reflected in a fund's net asset value. Any reduction of this amount will reduce net asset value penny-for-penny.
(e) The distribution includes an estimated $0.0620 from net investment income and $0.0030 return of capital.
(f) The distribution includes an estimated $0.0550 from net investment income and $0.0050 return of capital.
(g) The distribution includes an estimated $0.0575 from net investment income and $0.0025 return of capital.
(h) The distribution includes an estimated $0.0700 from net investment income and $0.0025 return of capital.
(i) The difference between net assets and total assets for XAA, MXA, and MXN is 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 $108 billion as of
March 31, 2009. USBNA is a subsidiary of U.S. Bancorp. 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.

FAF Advisors, Inc.
Investor Services, 800-677-FUND

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