FEDERATED EQUITY INCOME FUND INC
NSAR-B, 1997-05-30
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SIGNATURE   S. ELLIOTT COHAN                             
TITLE       ASST. GEN. COUNSEL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   001                                            
     <NAME>                     Federated Equity Income Fund, Inc.             
                                Class A Shares                                 
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Mar-31-1997                                    
<PERIOD-END>                    Mar-31-1997                                    
<INVESTMENTS-AT-COST>           950,275,019                                    
<INVESTMENTS-AT-VALUE>          1,031,978,655                                  
<RECEIVABLES>                   13,835,221                                     
<ASSETS-OTHER>                  10,781                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  1,045,824,657                                  
<PAYABLE-FOR-SECURITIES>        2,067,233                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       3,759,224                                      
<TOTAL-LIABILITIES>             5,826,457                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        925,189,537                                    
<SHARES-COMMON-STOCK>           27,656,479                                     
<SHARES-COMMON-PRIOR>           15,450,868                                     
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          (819,524)                                      
<ACCUMULATED-NET-GAINS>         33,924,551                                     
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        81,703,636                                     
<NET-ASSETS>                    431,280,796                                    
<DIVIDEND-INCOME>               20,671,620                                     
<INTEREST-INCOME>               4,960,286                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  9,900,846                                      
<NET-INVESTMENT-INCOME>         15,731,060                                     
<REALIZED-GAINS-CURRENT>        50,872,590                                     
<APPREC-INCREASE-CURRENT>       42,343,319                                     
<NET-CHANGE-FROM-OPS>           108,946,969                                    
<EQUALIZATION>                  480,911                                        
<DISTRIBUTIONS-OF-INCOME>       8,786,457                                      
<DISTRIBUTIONS-OF-GAINS>        16,098,902                                     
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         16,344,330                                     
<NUMBER-OF-SHARES-REDEEMED>     5,333,044                                      
<SHARES-REINVESTED>             1,194,325                                      
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<ACCUMULATED-NII-PRIOR>         0                                              
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<OVERDISTRIB-NII-PRIOR>         (212,388)                                      
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           4,100,883                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 10,036,229                                     
<AVERAGE-NET-ASSETS>            686,448,890                                    
<PER-SHARE-NAV-BEGIN>           14.260                                         
<PER-SHARE-NII>                 0.420                                          
<PER-SHARE-GAIN-APPREC>         2.160                                          
<PER-SHARE-DIVIDEND>            0.410                                          
<PER-SHARE-DISTRIBUTIONS>       0.840                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             15.590                                         
<EXPENSE-RATIO>                 1.08                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   002                                            
     <NAME>                     Federated Equity Income Fund, Inc.             
                                Class B Shares                                 
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Mar-31-1997                                    
<PERIOD-END>                    Mar-31-1997                                    
<INVESTMENTS-AT-COST>           950,275,019                                    
<INVESTMENTS-AT-VALUE>          1,031,978,655                                  
<RECEIVABLES>                   13,835,221                                     
<ASSETS-OTHER>                  10,781                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  1,045,824,657                                  
<PAYABLE-FOR-SECURITIES>        2,067,233                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       3,759,224                                      
<TOTAL-LIABILITIES>             5,826,457                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        925,189,537                                    
<SHARES-COMMON-STOCK>           26,847,803                                     
<SHARES-COMMON-PRIOR>           4,981,062                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          (819,524)                                      
<ACCUMULATED-NET-GAINS>         33,924,551                                     
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        81,703,636                                     
<NET-ASSETS>                    418,675,410                                    
<DIVIDEND-INCOME>               20,671,620                                     
<INTEREST-INCOME>               4,960,286                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  9,900,846                                      
<NET-INVESTMENT-INCOME>         15,731,060                                     
<REALIZED-GAINS-CURRENT>        50,872,590                                     
<APPREC-INCREASE-CURRENT>       42,343,319                                     
<NET-CHANGE-FROM-OPS>           108,946,969                                    
<EQUALIZATION>                  480,911                                        
<DISTRIBUTIONS-OF-INCOME>       4,349,221                                      
<DISTRIBUTIONS-OF-GAINS>        9,615,580                                      
<DISTRIBUTIONS-OTHER>           0                                              
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<NUMBER-OF-SHARES-REDEEMED>     1,529,865                                      
<SHARES-REINVESTED>             852,599                                        
<NET-CHANGE-IN-ASSETS>          648,843,263                                    
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       16,113,883                                     
<OVERDISTRIB-NII-PRIOR>         (212,388)                                      
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           4,100,883                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 10,036,229                                     
<AVERAGE-NET-ASSETS>            686,448,890                                    
<PER-SHARE-NAV-BEGIN>           14.260                                         
<PER-SHARE-NII>                 0.340                                          
<PER-SHARE-GAIN-APPREC>         2.130                                          
<PER-SHARE-DIVIDEND>            0.300                                          
<PER-SHARE-DISTRIBUTIONS>       0.840                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             15.590                                         
<EXPENSE-RATIO>                 1.87                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   003                                            
     <NAME>                     Federated Equity Income Fund, Inc.             
                                Class C Shares                                 
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Mar-31-1997                                    
<PERIOD-END>                    Mar-31-1997                                    
<INVESTMENTS-AT-COST>           950,275,019                                    
<INVESTMENTS-AT-VALUE>          1,031,978,655                                  
<RECEIVABLES>                   13,835,221                                     
<ASSETS-OTHER>                  10,781                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  1,045,824,657                                  
<PAYABLE-FOR-SECURITIES>        2,067,233                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       3,759,224                                      
<TOTAL-LIABILITIES>             5,826,457                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        925,189,537                                    
<SHARES-COMMON-STOCK>           6,514,433                                      
<SHARES-COMMON-PRIOR>           3,378,290                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          (819,524)                                      
<ACCUMULATED-NET-GAINS>         33,924,551                                     
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        81,703,636                                     
<NET-ASSETS>                    101,587,640                                    
<DIVIDEND-INCOME>               20,671,620                                     
<INTEREST-INCOME>               4,960,286                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  9,900,846                                      
<NET-INVESTMENT-INCOME>         15,731,060                                     
<REALIZED-GAINS-CURRENT>        50,872,590                                     
<APPREC-INCREASE-CURRENT>       42,343,319                                     
<NET-CHANGE-FROM-OPS>           108,946,969                                    
<EQUALIZATION>                  480,911                                        
<DISTRIBUTIONS-OF-INCOME>       1,455,111                                      
<DISTRIBUTIONS-OF-GAINS>        3,712,059                                      
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         3,514,431                                      
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<SHARES-REINVESTED>             308,800                                        
<NET-CHANGE-IN-ASSETS>          648,843,263                                    
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<OVERDISTRIB-NII-PRIOR>         (212,388)                                      
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<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 10,036,229                                     
<AVERAGE-NET-ASSETS>            686,448,890                                    
<PER-SHARE-NAV-BEGIN>           14.260                                         
<PER-SHARE-NII>                 0.300                                          
<PER-SHARE-GAIN-APPREC>         2.160                                          
<PER-SHARE-DIVIDEND>            0.290                                          
<PER-SHARE-DISTRIBUTIONS>       0.840                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             15.590                                         
<EXPENSE-RATIO>                 1.87                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   004                                            
     <NAME>                     Federated Equity Income Fund, Inc.             
                                Class F Shares                                 
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Mar-31-1997                                    
<PERIOD-END>                    Mar-31-1997                                    
<INVESTMENTS-AT-COST>           950,275,019                                    
<INVESTMENTS-AT-VALUE>          1,031,978,655                                  
<RECEIVABLES>                   13,835,221                                     
<ASSETS-OTHER>                  10,781                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  1,045,824,657                                  
<PAYABLE-FOR-SECURITIES>        2,067,233                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       3,759,224                                      
<TOTAL-LIABILITIES>             5,826,457                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        925,189,537                                    
<SHARES-COMMON-STOCK>           5,672,243                                      
<SHARES-COMMON-PRIOR>           3,626,979                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          (819,524)                                      
<ACCUMULATED-NET-GAINS>         33,924,551                                     
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        81,703,636                                     
<NET-ASSETS>                    88,454,354                                     
<DIVIDEND-INCOME>               20,671,620                                     
<INTEREST-INCOME>               4,960,286                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  9,900,846                                      
<NET-INVESTMENT-INCOME>         15,731,060                                     
<REALIZED-GAINS-CURRENT>        50,872,590                                     
<APPREC-INCREASE-CURRENT>       42,343,319                                     
<NET-CHANGE-FROM-OPS>           108,946,969                                    
<EQUALIZATION>                  480,911                                        
<DISTRIBUTIONS-OF-INCOME>       1,747,407                                      
<DISTRIBUTIONS-OF-GAINS>        3,635,381                                      
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         2,247,501                                      
<NUMBER-OF-SHARES-REDEEMED>     523,006                                        
<SHARES-REINVESTED>             320,769                                        
<NET-CHANGE-IN-ASSETS>          648,843,263                                    
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       16,113,883                                     
<OVERDISTRIB-NII-PRIOR>         (212,388)                                      
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           4,100,883                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 10,036,229                                     
<AVERAGE-NET-ASSETS>            686,448,890                                    
<PER-SHARE-NAV-BEGIN>           14.260                                         
<PER-SHARE-NII>                 0.380                                          
<PER-SHARE-GAIN-APPREC>         2.160                                          
<PER-SHARE-DIVIDEND>            0.370                                          
<PER-SHARE-DISTRIBUTIONS>       0.840                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             15.590                                         
<EXPENSE-RATIO>                 1.36                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>


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