FAF Advisors, Inc. Announces December Distributions for Closed-End Funds

The closed-end funds listed below, which are advised by FAF Advisors, Inc., today declared their December distributions. The distributions will be allocated on a per-share basis on the common stock. The distributions have a December 1, 2009, ex-dividend date and will be paid on December 16, 2009, to shareholders of record on December 3, 2009.

ASP, BSP, CSP and SLA distributions were declared pursuant to a level distribution policy adopted by the Board of Directors. Under this policy, ASP, BSP, CSP and SLA currently anticipate paying fixed monthly distributions to shareholders in the amounts set forth in the table below. It is expected that distributions under the level distribution policy will consist primarily of net investment income and a return of capital to shareholders, although the exact tax characteristics of the funds’ distributions in any fiscal year will not be known until after the end of that fiscal year. A return of capital represents a return of a shareholder’s original investment in a fund’s shares, and should not be confused with a dividend yield. The level distribution policy is subject to suspension, revision or termination at any time without notice to shareholders.

Each fund listed below will provide a notice, as required by Section 19(a) of the Investment Company Act of 1940, as amended, for any distribution that does not consist solely of net investment income. Any such notice will provide information regarding the estimated amounts of the distribution derived from net investment income, net realized capital gains and return of capital. Such notices will be for informational purposes only and the amounts indicated in such notices likely will differ from the ultimate federal income tax characterization of distributions reported to shareholders on Form 1099-DIV after year end.

American Municipal Income Portfolio (XAA) and Minnesota Municipal Income Portfolio (MXA) have increased their monthly distributions, beginning with the December distributions. These distributions were increased to more closely reflect current earnings.

Based in Minneapolis, FAF Advisors, Inc., a subsidiary of U.S. Bank National Association serves as the investment advisor to the First American Funds. It 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 $103 billion as of September 30, 2009.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp, the sixth-largest* financial services holding company in the United States as of September 30, 2009, and a leading provider of comprehensive banking, trust, investment, and payment systems products and service. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp at usbank.com.

Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank 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.

*Information provided by U.S. Bank Investor Relations.