FEDERATED AMERICAN LEADERS FUND, INC.
Class A Shares
Class B Shares
Class C Shares
Class F Shares
Supplement to Prospectuses dated May 31, 1998
At the March 26, 1999 shareholder meeting, shareholders approved the following
changes:
1. Elected seven Directors.
2. Ratified the selection of the Fund's independent public accountants.
The meeting was adjourned to May 12, 1999, 2:00 p.m., (Eastern time), at 2800
Corporate Drive, Pittsburgh, PA 15237-7000 with respect to the following
proposals:
3. To make the following changes to the Fund's fundamental policies:
(a) To amend the Fund's fundamental investment policy on diversification
of its investments;
(b) To make non-fundamental, and to amend, the Fund's policy regarding
investing in restricted securities;
(c) To amend the Fund's fundamental investment policy regarding borrowing
to permit the purchase of securities while borrowings are outstanding;
(d) To make non-fundamental, and to amend, the Fund's fundamental
investment policy to permit the Fund to invest in the securities of
other investment companies;
(e) To make non-fundamental the prohibition on the Fund's fundamental
investment policy prohibiting investment in securities to exercise
control of an issuer;
(f) To make non-fundamental the Fund's fundamental investment policy regarding
the description of "The Leaders List"
(g) To amend the Fund's fundamental policy regarding investment in real
estate.
4. To eliminate the following fundamental policies:
(a) To remove the Fund's fundamental investment policy on investing in new
issuers; and
(b) To remove the Fund's fundamental investment policy on investing in
issuers whose securities are owned by Officers and Directors of the
Fund.
March 26, 1999
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Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
www.federatedinvestors.com
Cusip 313914103
Cusip 313914202
Cusip 313914301
Cusip 313914400
G02534-03 (3/99)
