FEDERATED AMERICAN LEADERS FUND INC
NSAR-B, EX-99, 2000-05-30
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May 26, 2000


Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC  20549


Dear Sir:

We have read and agree with the statements contained in Sub-Item 77k of Form
N-SAR of the Federated American Leaders Fund, Inc.

Very truly yours,



Arthur Andersen LLP




Mr. Sean Fitzsimons










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