FEDERATED GROWTH TRUST/CGF/FED ADV/FEDMGT/FED INV, 497, 1994-08-26

FEDERATED GROWTH TRUST/CGF/FED ADV/FEDMGT/FED INV
497, 1994-08-26

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FEDERATED GROWTH TRUST
Supplement to Prospectus dated December 31, 1993
1.   Under the section entitled "Adviser's Background" on page 7, please
delete the second paragraph and replace it  with the following information:
      "Peter R. Anderson has been the Trust's senior portfolio manager since 
      August 1994.  Mr. Anderson
      joined Federated Investors in 1972 as, and is presently, a
      Senior Vice President of the Trust's  investment adviser.  Mr.
      Anderson is a Chartered Financial Analyst and received his
      M.B.A. in Finance from the University of Wisconsin.
      Gregory M. Melvin is the Trust's portfolio manager and has participated
      in the management of the
      Trust  since  January 1987.  Mr. Melvin joined Federated
      Investors in 1980 and has been a Vice President of the Trust's
      investment adviser since 1984.   Mr. Melvin is a Chartered
      Financial Analyst and received his M.B.A. in Finance from
      Harvard Business School."
      
                                                            August  23, 1994


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