% 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
FEDERATED GNMA TRUST
Institutional Shares
Supplement to the Prospectus dated March 31, 1994
Please delete the second paragraph of the section entitled
"General Information" on page 3 of the prospectus and replace it
with the following:
"Institutional Shares ("Shares") are sold primarily to
accounts for which financial institutions act in a
fiduciary or agency capacity, and other accounts where
a financial institution maintains master accounts with
an aggregate investment of at least $400 million in
certain mutual funds which are advised or distributed
by affiliates of Federated Investors. Shares are also
made available to financial intermediaries, public,
and private organizations. An investment in the Fund
serves as a convenient means of accumulating an
interest in a professionally managed, diversified
portfolio of primarily mortgage-backed securities. A
minimum initial investment of $25,000 over a 90-day
period is required."
September 23, 1994
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated
Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
314184102
G00614-01-IS (9/94)
