FEDERATED INCOME SECURITIES TRUST, 497, 1994-10-24

FEDERATED INCOME SECURITIES TRUST
497, 1994-10-24

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FEDERATED SHORT-TERM INCOME FUND
(A Portfolio of Federated Income Securities Trust)
Institutional Shares and Institutional Service Shares
Supplement to the Prospectuses dated June 30, 1994
      Please be advised that Susan M. Nason resigned from her position as a
      co-portfolio manager of Federated Short-Term Income Fund on October 1,
      1994.  Accordingly, please delete the last paragraph, referring to Ms.
      Nason, under the subsection entitled "Adviser's Background," which
      begins on page 15 of the prospectuses.  In addition, please note that
      Deborah A. Cunningham remains as the Fund's portfolio manager.

                                                            October 31, 1994


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    CMR410066
    31420C209
    31420C308
    006633 (10/94)