Repurchase Offer Price Determined for American Income Fund (Formerly Mentor Income Fund)

Apr 20, 2001, 01:00 ET from First American Asset Management

    MINNEAPOLIS, April 20 /PRNewswire Interactive Press Release/ -- First
 American Asset Management today announced that the repurchase offer price has
 been determined for American Income Fund (NYSE:   MRF).
     American Income Fund is offering to repurchase up to 20% of outstanding
 shares.  The repurchase price, which reflects a $0.02 per share fee to offset
 the expense of the offer is as follows:
 
     MRF  $9.10
 
     Because the submitted shares exceed the 20% limit, the share repurchase
 will be made on a pro-rata basis at net asset value less the $0.02 per share
 fee.  Proceeds will be paid by the funds on April 23, 2001.
     Investment products, including shares of closed-end funds, are not
 obligations of, or guaranteed by, any bank including U.S. Bank or any of its
 affiliates, 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.
     Based in Minneapolis, First American Asset Management provides investment
 management services to individuals and institutions, including corporations,
 foundations, pensions, and retirement plans.  U.S. Bancorp's (NYSE:   USB) two
 asset management divisions, First American Asset Management and Firstar
 Investment Research & Management Co. LLP (FIRMCO), have combined assets under
 management of $116 billion.  U.S. Bancorp is the eighth largest financial
 services holding company in the United States and a leading provider of
 comprehensive banking, trust, investment, and payment systems products and
 services.  U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X15021073
 
 

SOURCE First American Asset Management
    MINNEAPOLIS, April 20 /PRNewswire Interactive Press Release/ -- First
 American Asset Management today announced that the repurchase offer price has
 been determined for American Income Fund (NYSE:   MRF).
     American Income Fund is offering to repurchase up to 20% of outstanding
 shares.  The repurchase price, which reflects a $0.02 per share fee to offset
 the expense of the offer is as follows:
 
     MRF  $9.10
 
     Because the submitted shares exceed the 20% limit, the share repurchase
 will be made on a pro-rata basis at net asset value less the $0.02 per share
 fee.  Proceeds will be paid by the funds on April 23, 2001.
     Investment products, including shares of closed-end funds, are not
 obligations of, or guaranteed by, any bank including U.S. Bank or any of its
 affiliates, 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.
     Based in Minneapolis, First American Asset Management provides investment
 management services to individuals and institutions, including corporations,
 foundations, pensions, and retirement plans.  U.S. Bancorp's (NYSE:   USB) two
 asset management divisions, First American Asset Management and Firstar
 Investment Research & Management Co. LLP (FIRMCO), have combined assets under
 management of $116 billion.  U.S. Bancorp is the eighth largest financial
 services holding company in the United States and a leading provider of
 comprehensive banking, trust, investment, and payment systems products and
 services.  U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X15021073
 
 SOURCE  First American Asset Management

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