FEDERATED MUNICIPAL OPPORTUNITIES FUND, INC.
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
CLASS F SHARES
SUPPLEMENT TO THE PROSPECTUSES DATED NOVEMBER 30, 1998
At the March 26, 1999 shareholder meeting, shareholders approved the following
changes:
1. Elected nine Directors.
2. Ratified the selection of the Fund's independent auditors.
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:
1. To make changes to the Fund's fundamental investment policies:
a) To make non-fundamental and to amend the Fund's fundamental investment
policy governing investments in restricted securities;
b) To amend the Fund's fundamental investment policy regarding borrowing
to permit the purchase of securities while borrowings are outstanding;
and
c) To make non-fundamental and to amend the Fund's fundamental policy to
permit the Fund to invest in the securities of other investment
companies.
March 26, 1999
[Graphic]
Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
www.federatedinvestors.com
Cusip 313910200
Cusip 313910309
Cusip 313910408
Cusip 313910101
