MONEY MARKET OBLIGATIONS TRUST /NEW/
NSAR-B, EX-99, 2000-09-29
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September 27, 2000



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549


Dear Sirs:

We have read and agree with the comments contained in Sub-Item 77k of
Form N-SAR of the Federated Prime Value Obligations Fund, Federated
Prime Cash Obligations Fund, and Federated Municipal Obligations Fund.

Very truly yours,


ERNST & YOUNG LLP




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