IMPORTANT NOTICE
Dear Shareholder:
The following supplement to your prospectus simply informs you that a new
class of shares has been added to the Fund.
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
___ ___ ___ ___ ___
retain this portion and attach to your current prospectus
LIBERTY MUNICIPAL SECURITIES FUND, INC.
Class a Shares
Supplement to Prospectus Dated May 5, 1993
1. The following is to be inserted at the end of the first paragraph of the
section entitled "General Information" on page 3 of your prospectus:
"Effective January 15, 1994, Liberty Municipal Securities Fund,
Inc. added a separate class of shares called Select Shares. A
prospectus for Select Shares of Liberty Municipal Securities Fund,
Inc. is available by writing to Federated Securities Corp."
February 8, 1994
FEDERATED SECURITIES CORP.
Distributor
4011704A(2/94)
IMPORTANT NOTICE
Dear Shareholder:
The following supplement to your prospectus simply informs you that a new
class of shares has been added to the Fund.
_ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
___ ___ ___ ___ ___
retain this portion and attach to your current prospectus
LIBERTY MUNICIPAL SECURITIES FUND, INC.
Class c Shares
Supplement to Prospectus Dated May 5, 1993
1. The following is to be inserted at the end of the first paragraph of the
section entitled "General Information" on page 2 of your prospectus:
"Effective January 15, 1994, Liberty Municipal Securities Fund,
Inc. added a separate class of shares called Select Shares. A
prospectus for Select Shares of Liberty Municipal Securities Fund,
Inc. is available by writing to Federated Securities Corp."
February 8, 1994
FEDERATED SECURITIES CORP.
Distributor
4011705A(2/94)
