FEDERATED GNMA TRUST, 497, 1995-09-28

FEDERATED GNMA TRUST
497, 1995-09-28

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FEDERATED GNMA TRUST
INSTITUTIONAL SHARES
INSTITUTIONAL SERVICE SHARES
Supplement to Prospectuses dated March 31, 1995
Please delete the biography of James D. Roberge under the sub-
heading "Adviser's Background" and replace it with the
following:
     "Edward J. Tiedge has been the Trust's portfolio manager since 
     October 1995. Mr. Tiedge joined Federated Investors in 1993 as 
     a Investment Analyst and has been an Assistant Vice President of the
     Trust's investment adviser since 1995. Mr. Tiedge served as
     Director of Investments at Duquesne Light Company from 1990
     to 1993. Mr. Tiedge is a Chartered Financial Analyst and
     received his M.S. in Industrial Administration from
     Carnegie Mellon University."
Kathleen M. Foody-Malus has been a portfolio manager for the
Trust since July 1993 and will continue in that capacity.
                                              September 30, 1995


   FEDERATED SECURITIES CORP.

   Distributor
   A subsidiary of Federated
   Investors
   Federated Investors Tower
   Pittsburgh, PA  15222-3779
   CUSIP 314184102
   CUSIP 314184201
   G00614-02 (9/95)