Item 77Q(e) - Copies of any New or Amended Registrant Investment Advisory
Contracts
The following Amendment No. 1 to the Investment Advisory Contract between
Federated Adjustable Rate U.S. Government Fund, Inc. (the "Fund") and
Federated Investment Management Company (the "Adviser") was approved by the
Board of Trustees of the Fund at their Regular Meeting on May 17, 2000:
"Paragraph 4 is deleted in its entirety and replaced with the following:
4. For all services rendered by Adviser hereunder, the Fund shall pay to
Adviser and Adviser agrees to accept
as full compensation for all services rendered hereunder, an annual
gross investment advisory fee equal to
0.40% of 1% of the average daily net assets of the Fund. Such fee
shall be accrued and paid daily at the rate
of 1/365th of 0.40% of 1% of the daily net assets of the Fund."
This amendment was executed by both parties on June 1, 2000.
1
