LIBERTY HIGH INCOME BOND FUND INC
497, 1995-06-06
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LIBERTY HIGH INCOME BOND FUND, INC.
Class A Shares, Class B Shares, Class C Shares
Supplement to Combined Statement of Additional Information dated May 31, 1995
Please replace the Officers and Directors compensation table, on page 10 of
the Statement of Additional Information, with the following:
Officers and Directors Compensation

                      AGGREGATE
NAME ,              COMPENSATION
POSITION WITH            FROM              TOTAL COMPENSATION PAID
FUND*                    FUND                FROM FUND COMPLEX +

John F. Donahue          $ 0         $0 for the Fund and
Chairman and Director                68 other investment companies in the Fund 
                                     Complex

Thomas G. Bigley       $ 736        $20,668 for the Fund and
Director                            49 other investment companies in the 
                                    Fund Complex

John T. Conroy, Jr.   $1,616        $117,202 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

William J. Copeland  $ 1,616        $117,202 for the Fund and
Director                            64 other investment companies in the Fund 
                                    Complex

J. Christopher Donahue   $ 0        $0 for the Fund and
Vice President and Director         14 other investment companies in the Fund
                                    Complex

James E. Dowd         $ 1,616       $117,202 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Lawrence D. Ellis, M.D.  $ 1,467    $106,460 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Edward L. Flaherty, Jr. $ 1,616     $117,202 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Peter E. Madden         $ 1,246     $90,563 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Gregor F. Meyer         $ 1,467     $106,460 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

John E. Murray, Jr.        $ 0      $0 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Wesley W. Posvar        $ 1,467     $106,460 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

Marjorie P. Smuts       $ 1,467     $106,460 for the Fund and
Director                            64 other investment companies in the Fund
                                    Complex

* Information is provided for the fiscal year ended March 31, 1995.
+ The information provided is for the last calendar year end.
                                                                  June 6, 1995

    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    G00386-02 (6/95)




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