WORLD UTILITY FUND
(A Portfolio of World Investment Series, Inc.)
Class A Shares, Class B Shares, Class C Shares and Fortress Shares
SUPPLEMENT TO PROSPECTUSES DATED JANUARY 31, 1995 (FORTRESS SHARES)
AND JULY 26, 1995 (CLASS A SHARES, CLASS B SHARES AND CLASS C SHARES)
1. On November, 1995, the Board of Directors (the "Board") approved the
assignment of the advisory contract between World Investment Series, Inc., on
behalf of World Utility Fund (the "Fund"), and Federated Management to Federated
Global Research Corp., a sister corporation under the common control of
Federated Investors. The assignment of the advisory contract will be effective
November 20, 1995.
Federated Global Research Corp. is committed to providing high quality
professional services to the Fund and does not anticipate that these events will
result in any disruption to the Fund and its shareholders.
2. On page 28 of the Class A Shares, Class B Shares and Class C Shares
Prospectus and page 23 of the Fortress Shares Prospectus, please delete the
second and fifth paragraphs, respectively, and replace with the following:
Michael J. Donnelly has been the Fund's portfolio manager since
November 20, 1995. Mr. Donnelly joined Federated Investors in 1993 as
an Investment Analyst and has been an Assistant Vice President of the
Fund's investment adviser since 1995. Mr. Donnelly served as
Assistant Manager at Korea First Bank from 1991 to 1993. Mr. Donnelly
received his Masters in Management with a concentration in
international business and finance from Northwestern University.
Drew J. Collins has been the Fund's portfolio manager since November
20, 1995. Mr. Collins joined Federated Investors in 1995 as a Senior
Vice President of the Fund's investment adviser. Mr. Collins served
as Vice President/Portfolio Manager of international equity portfolios
at Arnhold and Bleichroeder, Inc. from 1994 to 1995. He served as an
Assistant Vice President/Portfolio Manager for international equities
at the College Retirement Equities Fund from 1986 to 1994. Mr.
Collins is a Chartered Financial Analyst and received his M.B.A. in
finance from the University of Pennsylvania.
Henry A. Frantzen has been the Fund's portfolio manager since November
20, 1995. Mr. Frantzen joined Federated Investors in 1995 as an
Executive Vice President of the Fund's investment adviser. Mr.
Frantzen served as Chief Investment Officer of international equities
at Brown Brothers Harriman & Co. from 1992 to 1995. He was the
Executive Vice President and Director of Equities at Oppenheimer
Management Corporation from 1989 to 1991. Mr. Frantzen received his
B.S. in finance and marketing from the University of North Dakota.
November 23, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of FEDERATED
INVESTORS
Federated Investors Tower PE
PITTSBURGH, PA 15222-3779
Cusip 981487101
Cusip 981487309
Cusip 981487408
Cusip 981487200
