FEDERATED MANAGED AGGRESSIVE GROWTH FUND
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FEDERATED MANAGED GROWTH FUND
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FEDERATED MANAGED GROWTH AND INCOME FUND
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Supplement to Prospectuses dated January 31, 1998
1. In the section entitled "Portfolio Managers' Backgrounds" please delete the
biography of Charles A. Ritter in its entirety and replace with the following:
"JohnW. Harris is a portfolio manager for the Fund and performs the
overall asset allocation of the Fund's assets among the various asset
categories. In addition, Mr. Harris is a manager of the domestic large
company stocks asset category. He has performed these duties since
December 1998. In allocating the Fund's assets, Mr. Harris evaluates
the market environment and economic outlook, utilizing the services of
the Adviser's Investment Strategy Committee. Mr. Harris has been an
Assistant Vice President of the Fund's Adviser since December 1998.
Mr. Harris initially joined Federated in April 1987 as an Investment
Analyst. He served as an Assistant Vice President from 1990 through
1992 and as a Vice President through May 1993. After leaving the money
management field to travel extensively, he rejoined Federated
Investors, Inc. in January 1997 as a Senior Investment Analyst. Mr.
Harris is a Chartered Financial Analyst. He received his M.B.A. from
the University of Pittsburgh."
2. In the section entitled "Portfolio Managers' Backgrounds" please delete the
biography of Scott B. Schermerhorn in its entirety.
In addition, please delete the references to Mr. Ritter and Mr. Schermerhorn as
portfolio managers for the domestic large company stocks asset category. Mr.
Harris replaces Mr. Ritter and Mr. Schermerhorn as a portfolio manager for the
domestic large company stocks asset category. Michael P. Donnelly and James E.
Grefenstette remain as portfolio managers for the domestic large company stocks
asset category.
December 14, 1998
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Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
www.federatedinvestors.com
Cusip 56166K701 Cusip 56166K800 Cusip 56166K503 Cusip 56166K602 Cusip 56166K305
Cusip 56166K404 Cusip 56166K107 Cusip 56166K206 G00251-09 (12/98)
