AMERICAN LEADERS FUND INC, 497, 1995-12-22

AMERICAN LEADERS FUND INC
497, 1995-12-22

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AMERICAN LEADERS FUND, INC.
Class A Shares

SUPPLEMENT TO COMBINED PROSPECTUS DATED MAY 31, 1995
     Effective January 1, 1996, the special offering of full dealer
     reallowance plus additional bonus payments on sales of Class A Shares
     will no longer be offered. Accordingly, please delete the last
     paragraph under the section entitled "Dealer Concession" on page 14 of
     the prospectus.
                                                               December 22, 1995















   FEDERATED SECURITIES CORP.

   Distributor                     RA
   A subsidiary of FEDERATED
   INVESTORS
   Federated Investors Tower
   PITTSBURGH, PA  15222-3779
   CUSIP #027128107