Money Market Funds - COUNTRY Financial

Direct fund correspondence to:First American FundsP.O. Box 1330Minneapolis, MN 55440-1330This report and the financial statements contained herein arenot intended to be a forecast of future events, a guarantee offuture results, or investment advice. Further, there is noassurance that certain securities will remain in or out of eachfund’s portfolio.This report is for the information of shareholders of theFirst American Funds, Inc. It may also be used as salesliterature when preceded or accompanied by a currentprospectus, which contains information concerninginvestment objectives, risks, and charges and expenses of thefunds. Read the prospectus carefully before investing.The figures in this report represent past performance and donot guarantee future results. The principal value of aninvestment and investment return will fluctuate so that aninvestor’s shares, when redeemed, may be worth more orless than their original cost.INVESTMENT ADVISORFAF Advisors, Inc.800 Nicollet MallMinneapolis, Minnesota 55402ADMINISTRATORFAF Advisors, Inc.800 Nicollet MallMinneapolis, Minnesota 55402TRANSFER AGENTU.S. Bancorp Fund Services, LLC615 East Michigan StreetMilwaukee, Wisconsin 53202CUSTODIANU.S. Bank National Association60 Livingston AvenueSt. Paul, Minnesota 55101DISTRIBUTORQuasar Distributors, LLC615 East Michigan StreetMilwaukee, Wisconsin 53202INDEPENDENT REGISTEREDPUBLIC ACCOUNTING FIRMErnst & Young LLP220 South Sixth StreetSuite 1400Minneapolis, Minnesota 55402COUNSELDorsey & Whitney LLP50 South Sixth StreetSuite 1500Minneapolis, Minnesota 55402First American FundsP.O. Box 1330Minneapolis, MN 55440-1330In an attempt to reduce shareholder costs and help eliminate duplication,First American Funds will try to limit their mailing to one report for eachaddress that lists one or more shareholders with the same last name. If youwould like additional copies, please call First American Investor Services at800.677.FUND or visit firstamericanfunds.com.0182-08 10/2008 AR-MONEY