FEDERATED STOCK AND BOND FUND, INC.
SUPPLEMENT TO PROSPECTUS DATED DECEMBER 31, 1995
On page 8 of the prospectus, please delete the biography of Timothy E.
Keefe in its entirety and replace with the following:
`Scott B. Schermerhorn has been the Fund's portfolio manager since
July 1996. Mr. Schermerhorn joined Federated Investors in 1996 as a Vice
President of the Fund's investment adviser. From 1990 through 1996, Mr.
Schermerhorn was a Senior Vice President and Senior Investment Officer at J
W Seligman & Co., Inc. Mr. Schermerhorn received his M.B.A. in Finance
and International Business from Seton Hall University.''
Joseph M. Balestrino, Susan M. Nason and Peter R. Anderson remain as the
Fund's portfolio managers.
July 19, 1996
FEDERATED INVESTORS
Federated Investors Tower
Pittsburgh, PA 15222-3779
Federated Securities Corp. is the distributor of the Fund
and is a subsidiary of Federated Investors.
Cusip 86101A104
G01407-05 (7/96)
