GOVERNMENT INCOME SECURITIES, INC.
Supplement to the Prospectus dated April 30, 1994
1. Under the section entitled "Adviser's Background" beginning page 15,
please delete the third and fourth paragraphs and replace with the
following information:
"James D. Roberge has been the Fund's portfolio manager since
March 1, 1995. Mr. Roberge joined
Federated Investors in 1990 and has been a Vice President of
the Fund's investment adviser since October, 1994. Prior to
this, Mr. Roberge served as an Assistant Vice President of
the Fund's investment adviser. From 1990 until 1992, Mr.
Roberge acted as an investment analyst. Mr. Roberge is a
Chartered Financial Analyst and received his M.B.A. in
Finance from Wharton Business School in 1990.
Kathleen M. Foody-Malus has been the Fund's portfolio manager since
July of 1993. Ms. Foody-Mal
us joined Federated Investors in 1983 and has been a Vice
President of the Fund's investment adviser since 1993. Ms.
Foody-Malus served as an Assistant Vice President of the
investment adviser from 1990 until 1992, and from 1986 until
1989 she acted as an investment analyst. Ms. Foody-Malus
received her M.B.A. in Accounting/Finance from the
University of Pittsburgh."
March 22, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
383733102
G00772-02(3/95)
