Rule 24f-2 Notice
FOUNTAIN SQUARE FUNDS
(Fund Name)
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
1933 Act No. 33-24848
(i) fiscal period for which notice is filed July 31, 1995
(ii) The number or amount of securities of the
same class or series, if any, which had
been registered under the Securities Act
of 1933, other than pursuant to Rule 24f-2
but which remained unsold at August 1, 1994,
the beginning of the Registrant's fiscal
period -0-
(iii) The number or amount
of securities, if
any, registered during the fiscal period
of this notice other than pursuant to
Rule 24f-2 -0- -0-
(iv) The number or amount of securities
sold during the fiscal period of this
notice
2,451,774,293
(v) The number or amount of securities sold
during the fiscal period of this notice
in reliance upon registration pursuant
to Rule 24f-2 (see attached Computation
of Fee)
2,451,774,293
WITNESS the due execution hereof this 15th day of September,
1995.
By: /s/Jay S. Neuman
Jay S. Neuman
Secretary
COMPUTATION OF FEE
1. Actual aggregate sale price of Registrant's
securities sold pursuant to Rule 24f-2 during
the fiscal period for which the 24f-2 notice
is filed (see Section v)
$2,615,688,130
2. Reduced by the difference between:
(a) actual aggregate redemption price
of such securities redeemed by the
issuer during the fiscal period for
which the 24f-2 notice is filed $2,473,469,543
(b) actual aggregate redemption price
of such redeemed securities
previously applied by the issuer
pursuant to Section 24e(2)(a) for
the fiscal period for which the
24f-2 notice is filed -0-
$2,473,469,543
Total amount upon which the fee calculation specified
in Section 6(b) of the Securities Act of 1933 is based $
142,218,587
FEE SUBMITTED (1/29 of 1% of Total amount) $
49,041
Federated Administrative
Services
FEDERATED INVESTORS TOWER
PITTSBURGH, PA 15222-3779
412-288-1900
September 15, 1995
Fountain Square Funds
Federated Investors Tower
Pittsburgh, PA 15222-3779
Gentlemen:
You have requested my opinion for use in conjunction with a
Rule 24f-2 Notice for Fountain Square Funds ("Trust") to be filed
in respect of shares of the Trust ("Shares") sold for the fiscal
year ended July 31, 1995, pursuant to the Trust's registration
statement filed with the Securities and Exchange Commission
("SEC") under the Securities Act of 1933 (File No. 33-24848)
("Registration Statement").
In its Registration Statement, the Trust elected to register
an indefinite number of shares pursuant to the provisions of
Investment Company Act Rule 24f-2.
As counsel I have participated in the preparation and filing
of the Trust's amended Registration Statement under the
Securities Act of 1933. Further, I have examined and am familiar
with the provisions of the Declaration of Trust dated September
15, 1988 ("Declaration of Trust"), the Bylaws of the Trust and
such other documents and records deemed relevant. I have also
reviewed questions of law and consulted with counsel thereon as
deemed necessary or appropriate by me for the purposes of this
opinion.
On the basis of the foregoing, it is my opinion the Shares
sold for the fiscal year ended July 31, 1995, registration of
which the Rule 24f-2 Notice makes definite in number, were
legally issued, fully paid and non-assessable by the Trust.
I hereby consent to the filing of this opinion as an exhibit
to the Rule 24f-2 Notice referred to above, the Registration
Statement of the Trust and to any application or registration
statement filed under the securities laws of any of the States of
the United States.
The foregoing opinion is limited to the Federal laws of the
United States and the laws of the Commonwealth of Massachusetts,
and I am expressing no opinion as to the effect of the laws of
any other jurisdiction.
Very truly yours,
/s/ Jay S. Neuman
Jay S. Neuman
Fund Attorney
