FIXED INCOME SECURITIES INC, 497, 1994-09-27

FIXED INCOME SECURITIES INC
497, 1994-09-27

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LIMITED TERM FUND - CLASS A SHARES
(A Portfolio of Fixed Income Securities, Inc.)
Supplement to Prospectus dated January 31, 1994

On page 16 of the Prospectus, please add the following as the second
sentence under the section entitled "Exchange Privilege":
      "Shareholders of Limited Maturity Government Fund may exchange
      all or some of their shares into Class A Shares of Limited Term
      Fund at net asset value."

                                                          September 27, 1994


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    338319106
    G00662-01-IV (9/94)