AUTOMATED CASH MANAGEMENT TRUST
(A Portfolio of Money Market Obligations Trust)
Supplement to Prospectus and Statement of Additional Information dated
September 30, 1998
I. At the, August 11, 1999 shareholder meeting, shareholders approved the
following changes:
(1) Made changes to the Fund's fundamental investment
limitations and policies:
(a) Amended the Fund's fundamental investment
limitation regarding borrowing money and issuing
senior securities to read as follows:
"The Fund may borrow money, directly or
indirectly, and issue senior securities to the
maximum extent permitted under the 1940 Act."
(b) Amended the Fund's fundamental investment
limitation regarding investing in real estate to
read as follows:
"The Fund may not purchase or sell real estate,
provided that this restriction does not prevent
the Fund from investing in issuers which invest,
deal, or otherwise engage in transactions in
real estate or interests therein, or investing
in securities that are secured by real estate or
interests therein. The Fund may exercise its
rights under agreements relating to such
securities, including the right to enforce
security interests and to hold real estate
acquired by reason of such enforcement until
that real estate can be liquidated in an orderly
manner."
(c) Amended the Fund's fundamental investment
limitation regarding investing in commodities to
read as follows:
"The Fund may not purchase or sell physical
commodities, provided that the Fund may purchase
securities of companies that deal in
commodities. For purposes of this limitation,
the Fund does not consider financial futures
contracts to be commodities."
<PAGE>
(d) Amended the Fund's fundamental investment
limitation regarding underwriting securities to
read as follows:
"The Fund may not underwrite the securities of
other issuers, except that the Fund may engage
in transactions involving the acquisition,
disposition or resale of its portfolio
securities, under circumstances where it may be
considered to be an underwriter under the
Securities Act of 1933."
(e) Amended the Fund's fundamental investment
limitation regarding lending assets to read as follows:
"The Fund may not make loans, provided that this
restriction does not prevent the Fund from
purchasing debt obligations, entering into
repurchase agreements, lending its assets to
broker/dealers or institutional investors and
investing in loans, including assignments and
participation interests."
(f) Amended the Fund's fundamental investment
limitation regarding concentration of the Fund's
investments in the securities of companies in
the same industry to read as follows:
"The Fund will not make investments that will
result in the concentration of its investments
in the securities of issuers primarily engaged
in the same industry. Government securities,
municipal securities and bank instruments will
not be deemed to constitute an industry. To
conform to the current view of the SEC that only
domestic bank instruments may be excluded from
industry concentration limitations, as a matter
of non-fundamental policy, the Fund will not
exclude foreign bank instruments from industry
concentration limits as long as the policy of
the SEC remains in effect. As a non-fundamental
operating policy, the Fund will consider
concentration to be the investment of more than
25% of the value of its total assets in any one
industry."
(g) Amended, and made non-fundamental, the Fund's
fundamental limitation regarding pledging assets
to read as follows:
"The Fund will not mortgage, pledge, or
hypothecate any of its assets, provided that
this shall not apply to the transfer of
securities in connection with any permissible
borrowing or to collateral arrangements in
connection with permissible activities."
<PAGE>
(h) Amended, and made non-fundamental, the Fund's
fundamental investment limitation regarding
buying securities on margin to read as follows:
"The Fund will not purchase securities on
margin, provided that the Fund may obtain
short-term credits necessary for the clearance
of purchases and sales of securities."
(i) Amended, and made non-fundamental, the Fund's
fundamental investment policies regarding the
types of money market instruments that the Fund
is permitted to purchase to read as follows:
"The Fund invests in a portfolio of money market instruments
maturing in 397 days or less." and
"The Fund invests in money market instruments
that are either rated in the two highest
short-term rating categories or the three
highest long-term rating categories by one or
more nationally recognized statistical rating
organizations or are of comparable quality to
securities having such ratings."
(j) Amended, and made non-fundamental the Fund's
fundamental investment limitation regarding
investing in securities of other investment
companies to read as follows:
"The Fund may invest its assets in securities of other
investment companies."
(k) Made non-fundamental the Fund's fundamental
investment policy regarding investing in U.S.
government securities.
(l) Made non-fundamental the Fund's fundamental
investment policy regarding purchasing bank instruments.
(m) Made non-fundamental the Fund's fundamental
investment policy regarding purchasing commercial paper.
(n) Made non-fundamental the Fund's fundamental
investment policy regarding engaging in
repurchase agreement transactions.
(o) Made non-fundamental the Fund's fundamental
investment policy regarding engaging in
when-issued and delayed delivery transactions.
(2) Removed certain of the Fund's fundamental investment
limitations:
(a) Removed the Fund's fundamental investment limitation
regarding selling securities short;
<PAGE>
(b) Removed the Fund's fundamental investment
limitation regarding investing for the purpose
of control; and
(c) Removed the Fund's fundamental investment
limitation regarding the purchase of securities
owned by Officers and Trustees of the Fund.
II. The following actions were taken by the Board of Trustees with regard
to non-fundamental investment limitations and policies:
(1) Amended the Fund's non-fundamental investment
limitation regarding illiquid securities to read as follows:
"The Fund will not purchase securities for which
there is no readily available market, or enter into
repurchase agreements or purchase time deposits
maturing in more than seven days, if immediately
after and as a result, the value of such securities
would exceed, in the aggregate, 10% of the Fund's net
assets."
(2) Approved the elimination of the following undertaking
of the Fund:
"The Fund has no present intent to borrow money or pledge
securities in excess of 5% of the value of its net assets."
(3) Approved the addition of a non-fundamental investment
limitation as follows when applying the concentration
restriction to the Fund:
"(a) utility companies will be divided according to
their services, for example, gas, gas transmission,
electric and telephone will each be considered a
separate industry; (b) financial service companies
will be classified according to the end users of
their services, for example, automobile finance, bank
finance and diversified finance will each be
considered a separate industry; and (c) asset-backed
securities will be classified according to the
underlying assets securing such securities."
(4) Approved the addition of the following non-fundamental
investment policy:
"The Fund may engage in securities lending transactions."
August 11, 1999
[Graphic]
Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Cusip 60934N831
Cusip 60934N864
G02621-06 (8/99)
TREASURY OBLIGATIONS FUND
(A Portfolio of Money Market Obligations Trust)
Supplement to Prospectus and Statement of Additional Information dated
September 30, 1998
I. At the, August 11, 1999 shareholder meeting, shareholders approved the
following changes:
(1) Made changes to the Fund's fundamental investment
limitations and policies:
(a) Amended the Fund's fundamental investment
limitation regarding diversification of its
investments to read as follows:
"With respect to securities comprising 75% of
the value of its total assets, the Fund will not
purchase securities of any one issuer (other
than cash; cash items; securities issued or
guaranteed by the government of the United
States or its agencies or instrumentalities and
repurchase agreements collateralized by such
U.S. government securities; and securities of
other investment companies) if, as a result,
more than 5% of the value of its total assets
would be invested in securities of that issuer,
or the Fund would own more than 10% of the
outstanding voting securities of that issuer."
(b) Amended the Fund's fundamental investment
limitation regarding borrowing money and issuing
senior securities to read as follows:
"The Fund may borrow money, directly or
indirectly, and issue senior securities to the
maximum extent permitted under the 1940 Act."
<PAGE>
(c) Amended the Fund's fundamental investment
limitation regarding investing in real estate to
read as follows:
"The Fund may not purchase or sell real estate,
provided that this restriction does not prevent
the Fund from investing in issuers which invest,
deal, or otherwise engage in transactions in
real estate or interests therein, or investing
in securities that are secured by real estate or
interests therein. The Fund may exercise its
rights under agreements relating to such
securities, including the right to enforce
security interests and to hold real estate
acquired by reason of such enforcement until
that real estate can be liquidated in an orderly
manner."
(d) Amended the Fund's fundamental investment
limitation regarding investing in commodities to
read as follows:
"The Fund may not purchase or sell physical
commodities, provided that the Fund may purchase
securities of companies that deal in
commodities. For purposes of this limitation,
the Funds do not consider financial futures
contracts to be commodities."
(e) Amended the Fund's fundamental investment
limitation regarding underwriting securities to
read as follows:
"The Fund may not underwrite the securities of
other issuers, except that the Fund may engage
in transactions involving the acquisition,
disposition or resale of its portfolio
securities, under circumstances where it may be
considered to be an underwriter under the
Securities Act of 1933."
(f) Amended the Fund's fundamental investment
limitation regarding lending assets to read as follows:
"The Fund may not make loans, provided that this
restriction does not prevent the Fund from
purchasing debt obligations, entering into
repurchase agreements, lending its assets to
broker/dealers or institutional investors and
investing in loans, including assignments and
participation interests."
<PAGE>
(g) Amended the Fund's fundamental investment
limitation regarding concentration of the Fund's
investments in the securities of companies in
the same industry to read as follows:
"The Fund will not make investments that will
result in the concentration of its investments
in the securities of issuers primarily engaged
in the same industry. Government securities,
municipal securities and bank instruments will
not be deemed to constitute an industry. To
conform to the current view of the SEC that only
domestic bank instruments may be excluded from
industry concentration limitations, as a matter
of non-fundamental policy, the Fund will not
exclude foreign bank instruments from industry
concentration limits as long as the policy of
the SEC remains in effect. As a non-fundamental
operating policy, the Fund will consider
concentration to be the investment of more than
25% of the value of its total assets in any one
industry."
(h) Amended, and made non-fundamental, the Fund's
fundamental limitation regarding pledging assets
to read as follows:
"The Fund will not mortgage, pledge, or
hypothecate any of its assets, provided that
this shall not apply to the transfer of
securities in connection with any permissible
borrowing or to collateral arrangements in
connection with permissible activities."
(i) Amended, and made non-fundamental, the Fund's
fundamental investment limitation regarding
buying securities on margin to read as follows:
"The Fund will not purchase securities on
margin, provided that the Fund may obtain
short-term credits necessary for the clearance
of purchases and sales of securities."
(2) Removed the Fund's fundamental investment limitation
regarding selling securities short
II. The following actions were taken by the Board of Trustees with regard
to non-fundamental investment limitations and policies:
(1) Removed the Fund's non-fundamental investment
limitation regarding investing in the securities of a
company for the purpose of exercising control or
management.
(2) Removed the Fund's non-fundamental investment
limitation regarding investing in puts, calls,
straddles, spreads, or any combination of them.
<PAGE>
(3) Amended the Fund's non-fundamental investment
limitation regarding illiquid securities to read as follows:
"The Fund will not purchase securities for which
there is no readily available market, or enter into
repurchase agreements or purchase time deposits
maturing in more than seven days, if immediately
after and as a result, the value of such securities
would exceed, in the aggregate, 10% of the Fund's net
assets."
(4) Amended the Fund's non-fundamental investment
limitation regarding investing in securities of other
investment companies to read as follows:
"The Fund may invest its assets in securities of other
investment companies."
(5) Approved the elimination of the following undertaking
of the Fund:
"The Fund has no present intent to borrow money or pledge
securities in excess of 5% of the value of its net assets."
(6) Approved the addition of a non-fundamental investment
limitation as follows when applying the concentration
restriction to the Fund:
"(a) utility companies will be divided according to
their services, for example, gas, gas transmission,
electric and telephone will each be considered a
separate industry; (b) financial service companies
will be classified according to the end users of
their services, for example, automobile finance, bank
finance and diversified finance will each be
considered a separate industry; and (c) asset-backed
securities will be classified according to the
underlying assets securing such securities."
<PAGE>
(7) Approved the addition of the following non-fundamental
investment policy:
"The Treasury Obligations Fund will pursue its
investment objective by investing only in a
portfolio of Treasury securities maturing in 397
days or less."
(8) Approved the elimination of the Fund's
non-fundamental investment policy pertaining to
when-issued and delayed delivery transactions that
provides that the Fund will not engage in such
transactions to an extent that would cause the
segregation of more than 20% of the value of its
total assets.
August 11, 1999
[Graphic]
Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Cusip 60934N509
Cusip 60934N872
Cusip 60934N823
G02621-05 (8/99)
