STRATEGIC INCOME FUND
(A Portfolio of Fixed Income Securities, Inc.)
Fortress Shares
SUPPLEMENT TO PROSPECTUS DATED JANUARY 31, 1995
Effective July 26, 1995, Strategic Income Fund added a separate class of
shares known as Class B Shares. Prospectuses for Class B Shares of the
Fund are available by contacting your financial institution.
A. Please delete the final paragraph in the Summary of Fund
Expenses table on page 1.
B. Please delete the fourth sentence of the first paragraph of the section
entitled "General Information"
on page 3 and replace it with the following:
"With respect to this Fund, the Directors have established four classes of
shares, known as Fortress Shares,
Class A Shares, Class B Shares, and Class C Shares."
C. Please delete the fifth paragraph of the section entitled "Performance
Information" on page 30 and
replace it with the following:
"Total return and yield will be calculated separately for Fortress
Shares, Class A Shares, Class B Shares,
and Class C Shares."
D. Please delete the text of the section "Other Class of Shares" on page 30
and replace it with the following:
"The Fund also offers other classes of shares called Class A Shares,
Class B Shares and Class C Shares which are all sold primarily to
customers of financial institutions subject to certain differences.
Class A Shares are sold subject to a front-end sales load and a
Shareholder Services Plan. Investments in Class A Shares are subject to
a minimum initial investment of $500, unless the investment is in a
retirement account, in which case the minimum investment is $50.
Class B Shares are sold at net asset value subject to a contingent
deferred sales charge, a Rule 12b-1 Plan and a Shareholder Services Plan.
Investments in Class B Shares are subject to a minimum initial investment
of $1,500, unless the investment is in a retirement account, in which
case the minimum investment is $50.
Class C Shares are sold at net asset value subject to a contingent
deferred sales charge, a Rule 12b-1 Plan and a Shareholder Services Plan.
Investments in Class C Shares are subject to a minimum investment of
$1,500, unless the investment is in a retirement account, in which case
the minimum investment is $50.
Class A, B and C Shares and Fortress Shares are subject to certain of the
same expenses. Expense differences, however, between Class A, B and C
Shares and Fortress Shares may affect the performance of each class.
To obtain more information and a combined prospectus for Class A , B and
C Shares, investors may call 1-800-235-4669 or contact their financial
institution."
July 28, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
CUSIP 338319882
G01055-03(7/95)
