CALIFORNIA MUNICIPAL INCOME FUND - FORTRESS SHARES
(A Portfolio of Municipal Securities Income Trust)
Supplement to Prospectus dated October 31, 1993, as revised.
Please add the following section entitled "Purchases with
Proceeds from Redemptions of Unaffiliated Investment Companies"
to page 10 of the prospectus after the section entitled
"Reinvestment Privilege", and add the title "Purchases with
Proceeds from Redemptions of Unaffiliated Investment Companies"
to the Table of Contents on page I of the prospectus:
Purchases with Proceeds from Redemptions of Unaffiliated
Investment Companies. Investors may purchase Shares at net
asset value, without a sales charge, for the period from March
31, 1994 through October 31, 1994, with the proceeds from the
redemption of shares of an investment company which was sold
with a sales charge or commission and was not distributed by
Federated Securities Corp. (This does not include shares of a
mutual fund which were or would be subject to a contingent
deferred sales charge upon redemption). The purchase must be
made within 60 days of the redemption, and Federated Securities
Corp. must be notified by the investor in writing, or by his
financial institution at the time the purchase is made.
March 31, 1994
FEDERATED SECURITIES CORP.
Distributor
4032208A_FS (3/94)
