TOWER MUTUAL FUNDS
SUPPLEMENT TO THE PROSPECTUS DATED OCTOBER 31, 1995
Please add the following as the second paragraph of the sub-section entitled
"PURCHASES AT NET ASSET VALUE" which appears on page 35:
"Effective immediately, investors may purchase shares of the Funds through
Hibernia Investment Securities, Inc., at net asset value, without a sales
charge, with proceeds from the redemption of shares of an unaffiliated
investment company."
April 29, 1996
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of FEDERATED INVESTORS
Federated Investors Tower
PITTSBURGH, PA 15222-3779
891836108
891836207
891836306
891836504
891836405
891836603
