MANAGED SERIES TRUST
497, 1995-06-29
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FEDERATED MANAGED AGGRESSIVE GROWTH FUND
(A PORTFOLIO OF MANAGED SERIES TRUST)
INSTITUTIONAL SERVICE SHARES
SUPPLEMENT TO PROSPECTUS DATED JANUARY 31, 1995
Effective June 30, 1995, the name of the Institutional Service Shares of the
Fund will be changed to Institutional Shares.

June 30, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    56166K701
    G00250-04 (6/95)




FEDERATED MANAGED GROWTH FUND
(A PORTFOLIO OF MANAGED SERIES TRUST)
INSTITUTIONAL SERVICE SHARES
SUPPLEMENT TO PROSPECTUS DATED JANUARY 31, 1995
Effective June 30, 1995, the name of the Institutional Service Shares of the
Fund will be changed to Institutional Shares.

June 30, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    56166K503
    G00251-04 (6/95)




FEDERATED MANAGED GROWTH AND INCOME FUND
(A PORTFOLIO OF MANAGED SERIES TRUST)
INSTITUTIONAL SERVICE SHARES
SUPPLEMENT TO PROSPECTUS DATED JANUARY 31, 1995
Effective June 30, 1995, the name of the Institutional Service Shares of the
Fund will be changed to Institutional Shares.

June 30, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    56166K305
    G00252-04 (6/95)




FEDERATED MANAGED INCOME FUND
(A PORTFOLIO OF MANAGED SERIES TRUST)
INSTITUTIONAL SERVICE SHARES
SUPPLEMENT TO PROSPECTUS DATED JANUARY 31, 1995
Effective June 30, 1995, the name of the Institutional Service Shares of the
Fund will be changed to Institutional Shares.

June 30, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    56166K107
    G00253-04 (6/95)





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