CORRECTING and REPLACING U.S. Bancorp Asset Management, Inc., Announces Financial Positions for Closed-End Funds

In the "Financial positions for the month ended Dec. 31,2005" table, the "Total Assets (000)" column has been revised. Thecorrected table follows:
Financial positions for the month ended Dec. 31, 2005:
NAV(1)
Total Net per
Assets Assets(e) Common
Fund Symbol (000) (000) Share

American Municipal Income
Portfolio XAA $133,351 $88,670 $15.40
Minnesota Municipal Income
Portfolio MXA $94,340 $62,808 $15.15
Minnesota Municipal Income
Fund II MXN $35,262 $22,013 $14.95
American Strategic Income
Portfolio ASP $59,002 $51,349 $12.14
American Strategic Income
Portfolio II BSP $264,445 $191,759 $12.00
American Strategic Income
Portfolio III CSP $314,521 $255,264 $11.95
American Select Portfolio SLA $173,339 $142,406 $13.36
American Income Fund MRF $103,650 $82,897 $8.77

The corrected release reads:

U.S. BANCORP ASSET MANAGEMENT, INC., ANNOUNCES FINANCIAL POSITIONSFOR CLOSED-END FUNDS

U.S. Bancorp Asset Management, Inc., today announced the financialpositions for the following closed-end funds for the month ended Dec.31, 2005.
Net investment income and distribution information for the month ended
Dec. 31, 2005:
Accumulated
Undistri-
Common Net buted Net
Monthly Investment Investment
Distri- Income/ Income/
Fund Symbol butions(a) Share(b) Share(c)

American Strategic
Income Portfolio ASP $0.0600 $0.0605 $(0.0130)
American Strategic
Income Portfolio II BSP $0.0800 $0.0700 $0.0576
American Strategic
Income Portfolio
III CSP $0.0650 $0.0807 $0.0885
American Select
Portfolio SLA $0.0700 $0.0818 $0.1407
American Income Fund MRF $0.0425 $0.0432 $0.0029

Accumulated
Preferred Undistri-
Common Distri- Net buted Net
Monthly butions Investment Investment
Distri- During Income/ Income/
Fund Symbol butions(a) Month(d) Share(b) Share(c)

American Municipal
Income Portfolio XAA $0.0720 $0.0178 $0.0823 $0.1315
Minnesota Municipal
Income Portfolio MXA $0.0690 $0.0175 $0.0742 $0.0835
Minnesota Municipal
Income Fund II MXN $0.0590 $0.0195 $0.0726 $0.0246


Financial positions for the month ended Dec. 31, 2005:
NAV(1)
Total Net per
Assets Assets(e) Common
Fund Symbol (000) (000) Share

American Municipal Income
Portfolio XAA $133,351 $88,670 $15.40
Minnesota Municipal Income
Portfolio MXA $94,340 $62,808 $15.15
Minnesota Municipal Income
Fund II MXN $35,262 $22,013 $14.95
American Strategic Income
Portfolio ASP $59,002 $51,349 $12.14
American Strategic Income
Portfolio II BSP $264,445 $191,759 $12.00
American Strategic Income
Portfolio III CSP $314,521 $255,264 $11.95
American Select Portfolio SLA $173,339 $142,406 $13.36
American Income Fund MRF $103,650 $82,897 $8.77


Financial positions for the month ended Dec. 31, 2004:
NAV(1)
Total Net per
Assets Assets(e) Common
Fund Symbol (000) (000) Share

American Municipal Income
Portfolio XAA $133,558 $89,453 $15.54
Minnesota Municipal Income
Portfolio MXA $95,259 $63,504 $15.31
Minnesota Municipal Income
Fund II MXN $35,132 $21,922 $14.89
American Strategic Income
Portfolio ASP $60,309 $53,104 $12.55
American Strategic Income
Portfolio II BSP $235,288 $200,202 $12.52
American Strategic Income
Portfolio III CSP $336,186 $258,159 $12.09
American Select Portfolio SLA $187,321 $139,053 $13.04
American Income Fund MRF $120,582 $86,019 $9.10


Financial positions for the month ended Dec. 31, 2003:
NAV(1)
Total Net per
Assets Assets(e) Common
Fund Symbol (000) (000) Share

American Municipal Income
Portfolio XAA $135,005 $89,448 $15.54
Minnesota Municipal Income
Portfolio MXA $95,835 $64,307 $15.51
Minnesota Municipal Income
Fund II MXN $34,703 $21,537 $14.63
American Strategic Income
Portfolio ASP $68,996 $53,355 $12.61
American Strategic Income
Portfolio II BSP $275,483 $207,328 $12.99
American Strategic Income
Portfolio III CSP $354,514 $264,891 $12.41
American Select Portfolio SLA $201,240 $142,418 $13.36
American Income Fund MRF $113,215 $85,889 $9.08


(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 Nov. 18, 2005. They had a
Dec. 1, 2005, ex-dividend date and were paid on Dec. 28, 2005, to
shareholders of record on Dec. 5, 2005.
(b) Based on a three-month average.
(c) 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.
(d) Calculated by dividing preferred distributions paid during the
month by the number of common shares outstanding.
(e) 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' investment advisor, U.S. Bancorp Asset Management,Inc., (USBAM) is based in Minneapolis and is a subsidiary of U.S. BankNational Association (USBNA). USBAM provides investment managementservices to individuals and institutions, including corporations,foundations, pension funds, public funds, and retirement plans, andhad combined assets under management of more than $121 billion as ofSeptember 30, 2005. USBNA is a subsidiary of U.S. Bancorp. Visit us onthe web at usbank.com.

Investment products, including shares of closed-end funds, are notobligations of, or guaranteed by, any bank, including U.S. BankNational Association or any U.S. Bancorp affiliate, nor are theyinsured by the Federal Deposit Insurance Corporation, the FederalReserve Board, or any other agency. An investment in such productsinvolves investment risk, including possible loss of principal.