FEDERATED INCOME TRUST
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Institutional Shares
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Institutional Service Shares
SUPPLEMENT TO PROSPECTUSES DATED MARCH 31, 2000
On page 14 of each prospectus under the section entitled "THE FUND'S PORTFOLIO
MANAGERS ARE," please delete the biography of Edward J. Tiedge in its entirety
and add the following as the second paragraph:
TODD A. ABRAHAM
Todd A. Abraham has been the Fund's Portfolio Manager since September 2000.
Mr. Abraham has been a Portfolio Manager since 1995 and a Vice President of
the Fund's Adviser since 1997. Mr. Abraham joined Federated in 1993 as an
Investment Analyst and served as Assistant Vice President from 1995 to
1997. Mr. Abraham served as a Portfolio Analyst at Ryland Mortgage Co. from
1992 to 1993. Mr. Abraham is a Chartered Financial Analyst and received his
M.B.A. in Finance from Loyola College.
Kathleen M. Foody-Malus remains as Portfolio Manager to the Fund.
September 30, 2000
Cusip 314199100
Cusip 314199209
25668 (9/00)
