% Crop Marks
.5 setlinewidth
/markl 9 def
/whitel 4 def
/top 72 def
/bottom 122 def
/left 45 def
/right 45 def
%horizontals
left markl sub whitel sub wp$y wp$top sub moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0
rlineto
left markl sub whitel sub bottom moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0
rlineto
%verticals
left bottom markl sub whitel sub moveto 0 markl rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl
rlineto
wp$x right sub bottom markl sub whitel sub moveto 0 markl
rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl
rlineto
stroke
LIQUID CASH TRUST
Supplement to Prospectus dated May 31, 1994
Please delete the second paragraph under the section entitled
"Telephone Redemption" on page 10 of the prospectus, and
replace it with the following:
"A daily dividend will be paid on shares redeemed if the
redemption request is received after 3:00 p.m. (Eastern
time). However, the proceeds are not wired until the
following business day. Redemption requests received
before 3:00 p.m. (Eastern time) will be paid the same day
but will not be entitled to that day's dividends."
July 12, 1994
FEDERATED SECURITIES CORP.
Distributor
536319106
005010-A (7/94)
