STARBURST FUNDS
497, 1995-07-31
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THE STARBURST MUNICIPAL INCOME FUND
(A Portfolio of The Starburst Funds)
Supplement to Prospectus dated December 31, 1994


Please replace the second sentence of the third paragraph under the sub-
heading entitled "To Place an Order" on page 13 with the following:

"Payment  for  all  orders must be received within three  business  days  of
placing the order."



                                                                      
                                                         July 31, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip 855245700
    G00948-03 (7/95)


THE STARBURST GOVERNMENT INCOME FUND
(A Portfolio of The Starburst Funds)
Supplement to Prospectus dated December 31, 1994


Please replace the second sentence of the third paragraph under the sub-
heading entitled "To Place an Order", which begins on page 12, with the
following:

"Payment  for  all  orders must be received within three  business  days  of
placing the order."



                                                                      
                                                         July 31, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip 855245809
    G00948-02 (7/95)





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