MONEY MARKET OBLIGATIONS TRUST
Government Obligations Fund
Government Obligations Tax-Managed Fund
Prime Obligations Fund
Tax-Free Obligations Fund
Supplement to Prospectuses and Statements of Additional Information dated
September 30, 1998
I. At the June 24, 1999 shareholder meeting, shareholders
approved the following changes to become effective July 1,
1999:
(1) Elected three Trustees.
(2) Ratified the selection of the Trust's independent
auditors.
(3) Made changes to the Funds' fundamental investment
limitations and policies:
(a) Amended the Funds' 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 Funds' 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 Funds' 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 Funds' 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 Funds' 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 Funds' 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."
(Please note: Prime Obligations Fund has no
present intention to engage in securities lending.)
<PAGE>
(g) Amended the Funds' (except Prime Obligations
Fund) 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 the Prime Obligations 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, except that the Fund may
invest 25% or more of the value of its total
assets in the commercial paper issued by finance
companies. 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."
(i) Amended, and made non-fundamental, the Funds'
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>
(j) Amended, and made non-fundamental, the Funds'
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."
(k) Made non-fundamental the following fundamental
investment policy of Prime Obligations Fund:
"The Fund will generally invest 25% or more of
its total assets in commercial paper issued by
finance companies. The finance companies in
which the Fund intends to invest can be divided
into two categories, commercial finance
companies and consumer finance companies.
Commercial finance companies are principally
engaged in lending to corporations or other
businesses. Consumer finance companies are
primarily engaged in lending to individuals.
Captive finance companies or finance
subsidiaries which exist to facilitate the
marketing and financial activities of their
parent will, for purposes of industry
concentration, be classified in the industry of
their parent's corporation. In addition, the
Fund may invest 25% or more of the value of its
total assets in instruments issued by a U.S.
branch of a domestic bank or savings association
having capital, surplus, and undivided profits
in excess of $100,000,000 at the time of
investment. Concentrating investments in one
industry may subject the Fund to more risk than
if it did not concentrate."
(4) Removed certain of the Funds' fundamental investment
limitations:
(a) Removed the Funds' fundamental investment limitation
regarding selling securities short;
(b) Removed the Funds' (Prime Obligations Fund and
Tax-Free Obligations Fund only) fundamental
investment limitation regarding investing in
restricted securities;
II. The following actions were taken by the Board of Trustees with regard
to non-fundamental investment limitations and policies:
(1) Removed the Funds' non-fundamental investment
limitation regarding investing in the securities of a
company for the purpose of exercising control or
management.
(2) Removed the Funds' non-fundamental investment
limitation regarding investing in puts, calls,
straddles, spreads, or any combination of them.
<PAGE>
(3) Amended the Funds' 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 Funds' 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) Amended the following non-fundamental investment
policy of Prime Obligations Fund and Tax-Free
Obligations Fund only:
"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."
(6) Approved the elimination of the following undertaking
of the Funds :
"The Fund has no present intent to borrow money or pledge
securities in excess of 5% of the value of its net assets."
(7) Approved the addition of a non-fundamental investment
limitation as follows when applying the concentration
restriction to the Funds:
"(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>
(8) Approved the addition of the following non-fundamental
investment policies:
(a) "The Government Obligations Tax-Managed Fund may engage
in securities lending transactions."
(b) "The Tax-Free Obligations Fund may engage in
reverse repurchase agreement transactions."
(c) "The Government Obligations Fund will pursue its
investment objective by investing in a portfolio
of U.S. government securities maturing in 397
days or less."
(d) "The Government Obligations Tax-Managed Fund
will pursue its investment objective by
investing in a portfolio of U.S. government
securities maturing in 397 days or less."
(e) "The Prime Obligations Fund will pursue its
investment objective by investing in a portfolio
of money market instruments maturing in 397 days
or less."
(f) "The Tax-Free Obligations Fund will pursue its
investment objective by investing in a portfolio
of municipal securities maturing in 397 days or
less."
(9) Approved the elimination of the Funds'
non-fundamental investment policy pertaining to
when-issued and delayed delivery transactions that
provides that each 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.
June 24, 1999
[Graphic]
Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Cusip 60934N104 Cusip 60934N203
Cusip 60934N807 Cusip 60934N708
Cusip 60934N856 Cusip 60934N401
Cusip 60934N849 Cusip 60934N880
G02621-03 (6/99)
money market obligations trust
automated cash management trust
treasury obligations fund
Supplement to Prospectuses dated September 30, 1998
At the, June 24, 1999 shareholder meeting, shareholders approved the following
changes:
(1) Elected three Trustees.
(2) Ratified the selection of the Trust's independent auditors.
The meeting was adjourned to August 11, 1999, 2:00 p.m. (Eastern time), at 2800
Corporate Drive, Pittsburgh, PA 15237-7000 with respect to the following
proposals:
(3) To make the following changes to the Funds' fundamental investment
limitations and policies:
(a) To amend the Treasury Obligations Fund's fundamental
investment limitation regarding diversification;
(b) To amend the Funds' fundamental investment limitations
regarding borrowing money and issuing senior securities;
(c) To amend the Funds' fundamental investment limitations
regarding investing in real estate;
(d) To amend the Funds' fundamental investment limitations
regarding investing in commodities;
(e) To amend the Funds' fundamental investment limitations
regarding underwriting securities;
(f) To amend the Funds' fundamental investment limitations
regarding lending assets;
(g) To amend the Funds' fundamental investment limitations
regarding concentration of the Funds' investments in the
securities of companies in the same industry;
(h) To amend, and to make non-fundamental, the Funds' fundamental
limitations regarding pledging assets;
(i) To amend, and to make non-fundamental, the Funds'
fundamental investment limitations regarding buying
securities on margin;
(j) To amend, and to make non-fundamental, the Automated Cash
Management Fund's fundamental investment policies regarding
the types of money market instruments that the Fund is
permitted to purchase;
(k) To amend, and to make non-fundamental, the Automated Cash
Management Fund's fundamental investment limitation
regarding investing in securities of other investment
companies;
(l) To make non-fundamental the Automated Cash Management Fund's
fundamental investment policy regarding investing in U.S.
government securities;
(m) To make non-fundamental the Automated Cash Management Fund's
fundamental investment policy regarding purchasing bank
instruments;
(n) To make non-fundamental the Automated Cash Management Fund's
fundamental investment policy regarding purchasing
commercial paper;
(o) To make non-fundamental the Automated Cash Management Fund's
fundamental investment policy regarding engaging in
repurchase agreement transactions; and
(p) To make non-fundamental the Automated Cash Management Fund's
fundamental investment policy regarding engaging in
when-issued and delayed delivery transactions.
(4) To eliminate certain of the Funds' fundamental investment
limitations:
(a) To remove the Funds' fundamental investment limitation
regarding selling securities short;
(b) To remove the Automated Cash Management Fund's
fundamental investment limitation regarding investing
for the purpose of control; and
(c) To remove the Automated Cash Management Fund's
fundamental investment limitation regarding the purchase
of securities of certain issuers.
June 24, 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 Cusip 60934N500 Cusip
60934N872 Cusip 60934N823 G02621-04 (6/99)
