FEDERATED BOND INDEX FUND
(A Portfolio of Federated Investment Trust) Institutional Shares Institutional
Service Shares Supplement to Prospectuses dated September 30, 1997.
On May 13, 1998, the Board of Trustees of Federated Investment Trust (the
"Trust") approved a proposed Agreement and Plan of Reorganization (the
"Agreement") between the Trust, on behalf of its portfolio, Federated Bond
Index Fund (the "Fund"), and Federated Total Return Series, Inc. (the
"Corporation"), on behalf of its portfolio, Federated Total Return Bond
Fund (the "Portfolio"), whereby the Corporation would acquire all of the
assets of the Fund in exchange for Institutional Shares and Institutional
Service Shares of the Portfolio to be distributed pro rata by the Fund to
the respective holders of Institutional Shares and Institutional Service
Shares of the Fund, in complete liquidation of the Fund.
The Agreement will be presented for the approval of shareholders of the
Fund at a Special Meeting of Shareholders to be held on or about September
21, 1998. It is anticipated that shareholders of record on July 23, 1998,
will receive a proxy statement discussing the terms of and the reasons for
the reorganization in detail, and will be entitled to vote at the Special
Meeting.
July 23, 1998
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Cusip 313909103
Cusip 313909202
G01780-07 (7/98)
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