AMERICAN LEADERS FUND, INC.
(CLASS A SHARES, CLASS B SHARES,
CLASS C SHARES AND FORTRESS SHARES)
Supplement to Prospectuses dated July 31, 1994
1. Under the sub-heading entitled "Adviser's Background", please delete
the last paragraph and insert the following information:
"Timothy E. Keefe has been the Fund's co-portfolio manager since February
1, 1995. Mr. Keefe joi
ned Federated Investors in 1987 and has been an Assistant Vice
President of the Fund's investment adviser since 1993. Mr. Keefe
served as an Investment Analyst of the investment adviser from 1991
until 1993, and from 1987 until 1991 he acted as a Marketing
Representative in the Broker Dealer Department. Mr. Keefe is a
Chartered Financial Analyst and received his M.B.A. in Business
Administration from the University of Pittsburgh.
Frederick L. Plautz has been the Fund's co-portfolio manager since
February 1, 1995. Mr. Plautz
joined Federated Investors in 1990 and has been a Vice President of
the Fund's investment adviser since October, 1994. Prior to this, Mr.
Plautz served as an Assistant Vice President of the investment
adviser. Mr. Plautz was a portfolio manager at Banc One Asset
Management Corp. from 1986 until 1990. Mr. Plautz received his M.S.
in Finance from the University of Wisconsin."
February 14, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
027128107
027128404
027128206
027128305
G00982-01 (2/95)
