WORLD INVESTMENT SERIES INC
485BPOS, 1996-08-29
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                                                 1933 Act File No. 33-52149
                                                 1940 Act File No. 811-7141

                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                 Form N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933        X

   Pre-Effective Amendment No.          ..........

   Post-Effective Amendment No.  9     ...........        X

                                  and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940     X

   Amendment No.   10    .........................        X

                       WORLD INVESTMENT SERIES, INC.

            (Exact Name of Registrant as Specified in Charter)

      Federated Investors Tower, Pittsburgh, Pennsylvania 15222-3779
                 (Address of Principal Executive Offices)

                              (412) 288-1900
                      (Registrant's Telephone Number)

                        John W. McGonigle, Esquire,
                        Federated Investors Tower,
                    Pittsburgh, Pennsylvania 15222-3779
                  (Name and Address of Agent for Service)

It is proposed that this filing will become effective:

    immediately upon filing pursuant to paragraph (b)
 X on September 9, 1996, pursuant to paragraph (b)(1)(v)
    60 days after filing pursuant to paragraph (a) (i)
    on                 pursuant to paragraph (a) (i)
    75 days after filing pursuant to paragraph (a)(ii)
    on                   pursuant to paragraph (a)(ii) of Rule 485
       -----------------

If appropriate, check the following box:

    This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.

Registrant has filed with the Securities and Exchange Commission a
declaration pursuant to Rule 24f-2 under the Investment Company Act of
1940, and:

 X  filed the Notice required by that Rule on January 16, 1996; or
    intends to file the Notice required by that Rule on or about
               ; or
   ------------
    during the most recent fiscal year did not sell any securities pursuant
   to Rule 24f-2 under the Investment Company Act of 1940, and, pursuant
   to Rule 24f-2(b)(2), need not file the Notice.

                                Copies to:

Matthew G. Maloney, Esquire
Dickstein, Shapiro & Morin, L.L.P.
2101 L Street, N.W.
Washington, D.C.  20037




                           CROSS-REFERENCE SHEET

     This amendment to the Registration Statement of World Investment
Series, Inc., which is comprised of seven portfolios:  (1) World Utility
Fund consisting of four classes of shares (a) Class A Shares, (b) Class F
Shares, (c) Class B Shares, and (d) Class C Shares; (2) Federated Asia
Pacific Growth Fund consisting of three classes of shares (a) Class A
Shares, (b) Class B Shares, and (c) Class C Shares; (3) Federated Emerging
Markets Fund consisting of three classes of shares (a) Class A Shares, (b)
Class B Shares, and (c) Class C Shares; (4) Federated European Growth Fund
consisting of three classes of shares (a) Class A Shares, (b) Class B
Shares, and (c) Class C Shares; (5) Federated International Small Company
Fund consisting of three classes of shares (a) Class A Shares, (b) Class B
Shares, and (c) Class C Shares; (6) Federated Latin American Growth Fund
consisting of three classes of shares (a) Class A Shares, (b) Class B
Shares, and (c) Class C Shares; and (7) Federated Aggressive International
Income Fund (currently in registration) consisting of three classes of
shares (a) Class A Shares, (b) Class B Shares, and (c) Class C Shares.
This filing relates to only five portfolios, Federated Asia Pacific Growth
Fund, Federated Emerging Markets Fund, Federated European Growth Fund,
Federated International Small Company Fund, and Federated Latin American
Growth Fund, and is comprised of the following:

PART A. INFORMATION REQUIRED IN A PROSPECTUS.

                                   Prospectus Heading
                                   (Rule 404(c) Cross Reference)
Item 1.   Cover Page...............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-
                                   c)Cover Page.

Item 2.   Synopsis.................(1a-d, 2a-c,3a-c,4a-c,5a-c,6a-c) Summary
                                   of Fund Expenses.

Item 3.   Condensed Financial
          Information .............(1a-d, 2a-c,3a-c,4a-c,5a-c,6a-c, 7a-c)
                                   Performance Information; (1a) Financial
                                   Highlights-Class A Shares; (1b)
                                   Financial Highlights-Class F Shares;
                                   (1c) Financial Highlights-Class B
                                   Shares; (1d) Financial Highlights-Class
                                   C Shares.

Item 4.   General Description
          of Registrant  ..........(1a-d, 7a-c) General Information;
                                   (2a-c,3a-c,4a-c,5a-c,6a-c) Synopsis;
                                   (2a-c,3a-c,4a-c, 5a-c,6a-c, 7a-c)
                                   Liberty Family of Funds; (1a-d, 2a-c,3a-
                                   c,4a-c,5a-c,6a-c, 7a-c) Investment
                                   Information; (1a-d, 2a-c,3a-c,4a-c,5a-
                                   c,6a-c, 7a-c) Investment Objective; (1a-
                                   d, 2a-c,3a-c,4a-c, 5a-c,6a-c, 7a-c)
                                   Investment Policies; (1a-d) Risk Factors
                                   and Investment Considerations; (7a-c)
                                   Risk Considerations in Emerging
                                   Markets;(1a-d) Other Investment
                                   Practices; (1a-d,2a-c, 3a-c,4a-c,5a-
                                   c,6a-c, 7a-c) Investment Limitations.
Item 5.   Management of the Fund...(1a-d, 7a-c) Fund Information; (2a-c,
                                   3a-c,4a-c, 5a-c,6a-c) Corporation
                                   Information; (1a-d, 2a-c,3a-c,4a-c,5a-
                                   c,6a-c, 7a-c) Management of the
                                   Corporation;   (1a,c,d, 2a-c,3a-c,4a-
                                   c,5a-c,6a-c, 7a-c) Distribution of
                                   Shares; (1b) Distribution of Class F
                                   Shares; (1a-d,2a-c,3a-c,4a-c,5a-c,6a-c)
                                   Administration of the Fund; (2a-c,3a-
                                   c,4a-c,5a-c,6a-c,7a-c) Expenses of the
                                   Fund and Class A Shares, Class B Shares,
                                   and Class C Shares; (1a-d,2a-c,3a-c,4a-
                                   c,5a-c,6a-c, 7a-c) Brokerage
                                   Transactions.

Item 6.   Capital Stock and
          Other Securities  .......(1a-d, 7a-c) Dividends and
                                   Distributions; (1a,b,d,2a-c,3a-c,4a-
                                   c,5a-c,6a-c, 7a-c) Account and Share
                                   Information; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c, 7a-c) Shareholder Information;
                                   (1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Voting Rights; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c,7a-c) Tax Information; (1a-d,2a-
                                   c,3a-c,4a-c,5a-c,6a-c, 7a-c) Federal
                                   Income Tax; (2a-c,3a-c,4a-c,5a-c,6a-
                                   c,7a-c) State and Local Taxes; (1a-d)
                                   State and Local Taxes; (1a-
                                   d,2a,3a,4a,5a,6a) Other Classes of
                                   Shares.

Item 7.   Purchase of Securities Being
          Offered .................(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c) Net
                                   Asset Value; (1a,1c,1d, 2a-c,3a-c,4a-
                                   c,5a-c,6a-c,7a-c) Investing in the Fund;
                                   (1a,1c,1d, 2a-c,3a-c,4a-c,5a-c,6a-c, 7a-
                                   c) How To Purchase Shares;
                                   (1a,2a,3a,4a,5a,6a,7a) Investing in
                                   Class A Shares; (1b) Investing in Class
                                   F Shares; (1c,2b,3b,4b,5b,6b,7b)
                                   Investing in Class B Shares;
                                   (1d,2c,3c,4c,5c,6c,7c) Investing in
                                   Class C Shares; (1a,c,d,7a-c) Special
                                   Purchase Features; (1b) Share Purchases;
                                   (1b) Minimum Investment Required; (1b)
                                   What Shares Cost; (1b,7a) Reducing or
                                   Eliminating the Sales Charge; (1b,7a-c)
                                   Systematic Investment Program; (1b)
                                   Exchanging Securities for Fund Shares;
                                   (1a-d,7a-c) Certificates and
                                   Confirmations; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c,7a-c) Exchange Privilege.



Item 8.   Redemption or Repurchase.(1a,1c,1d, 2a-c,3a-c,4a-c,5a-c,6a-c,7a-
                                   c) How To Redeem Shares; (1b) Redeeming
                                   Class F Shares; (1b,7a-c) Through a
                                   Financial Institution; (1b,7a-c)
                                   Redeeming Shares by Telephone; (1b,7a-c)
                                   Redeeming Shares by Mail; (1a,1c,1d, 2a-
                                   c,3a-c,4a-c,5a-c,6a-c,7a-c) Special
                                   Redemption Features; (1a-d,2a-c,3a-c,4a-
                                   c,5a-c,6a-c,7a-c) Contingent Deferred
                                   Sales Charge; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c,7a-c) Elimination of Contingent
                                   Deferred Sales Charge; (1b,7a-c)
                                   Systematic Withdrawal Program;   (1a-
                                   d,7a-c) Accounts With Low Balances.

Item 9.   Pending Legal Proceedings     None


PART B. INFORMATION REQUIRED IN A STATEMENT OF ADDITIONAL INFORMATION.

Item 10.  Cover Page...............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Cover Page.

Item 11.  Table of Contents........(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Table of Contents.

Item 12.  General Information
          and History..............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   General Information About the Fund; (1a-
                                   d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c) About
                                   Federated Investors.

Item 13.  Investment Objectives
          and Policies.............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Investment Objective and Policies.

Item 14.  Management of the Corporation.(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-
                                   c) World Investment Series, Inc.
                                   Management.

Item 15.  Control Persons and Principal
          Holders of Securities....(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Fund Ownership; (1a-d,7a-c) Directors'
                                   Compensation.

Item 16.  Investment Advisory and Other
          Services.................(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Investment Advisory Services; (2a-c,3a-
                                   c,4a-c,5a-c,6a-c)Administrative
                                   Services; (1a-d,7a-c) Other Services;
                                   (2a-c,3a-c,4a-c,5a-c,6a-c,7a-c) Transfer
                                   Agent and Dividend Disbursing Agent.

Item 17.  Brokerage Allocation.....(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Brokerage Transactions.

Item 18.  Capital Stock and Other
          Securities...............Not applicable.

Item 19.  Purchase, Redemption
          and Pricing of Securities
          Being Offered............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Purchasing Shares; (1a-d,2a-c,3a-c,4a-
                                   c,5a-c,6a-c,7a-c) Determining Net Asset
                                   Value; (1b) Exchange Privilege; (1a-
                                   d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Redeeming Shares.

Item 20.  Tax Status...............(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c) Tax
                                   Status.

Item 21.  Underwriters.............(1b-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Distribution Plan and Shareholder
                                   Services Agreement.



Item 22.  Calculation of
          Performance Data.........(1a-d,2a-c,3a-c,4a-c,5a-c,6a-c,7a-c)
                                   Total Return; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c,7a-c) Yield; (1a-d,2a-c,3a-c,4a-
                                   c,5a-c,6a-c,7a-c) Performance
                                   Comparisons; (1a-d,2a-c,3a-c,4a-c,5a-
                                   c,6a-c,7a-c) Appendix - included in the
                                   Prospectus.

Item 23.  Financial Statements.....1a-d, 2a-c, 3a-c,4a-c, 5a-c,and 6a-c
                                   filed in Part A Prospectuses, 7a-c to be
                                   filed by amendment.



PART C. OTHER INFORMATION.

Item 24.  Financial Statements and Exhibits:

          (a)Financial Statements: 1a-d, 2a-c, 3a-c,4a-c, 5a-c,and 6a-c
            filed in Part A Prospectuses, 7a-c to be filed by amendment.
          (b)  Exhibits:
                (1) (i)  Conformed Copy of Articles of Incorporation of
                         the Registrant;(1)
                    (ii) Conformed Copy of Articles Supplementary;(5)
                (2) Copy of By-Laws of the Registrant; (1)
                (3) Not applicable;
                (4) Copy of Specimen Certificate for Shares of Capital
                    Stock of Federated World Utility Fund; Federated Asia
                    Pacific Growth Fund, Federated Emerging Markets Fund,
                    Federated European Growth Fund, Federated International
                    Small Company Fund, and Federated Latin American Growth
                    Fund; +
                (5) (i)  Conformed Copy of Investment Advisory Contract of
                         the Registrant through and including Exhibit
                         F;(5)
                    (ii) Conformed Copy of Assignment of Investment
                         Advisory Contract;(5)
                (6) (i)  Conformed Copy of Distributor's Contract of the
                         Registrant through and including Exhibit S;(5)
                    (ii) The Registrant hereby incorporates the conformed
                         copy of the Specimen Mutual Funds Sales and
                         Service Agreement; Mutual Funds Service
                         Agreement; and Plan Trustee/Mutual Funds Service
                         Agreement from Item 24(b)6 of the Cash Trust
                         Series II Registration Statement on Form N-1A,
                         filed with the Commission on July 24, 1995. (File
                         Nos. 33-38550 and 811-6269)
                (7) Not applicable;
                (8) Conformed copy of Custodian Agreement of the
                    Registrant; (3)



+All exhibits have been filed electronically.

1.  Response is incorporated by reference to Registrant's Intitial
   Registration Statement on Form N-1A filed February 4, 1994.  (File Nos.
   33-52149 and 811-7141).
3.  Response is incorporated by reference to Registrant's Post-Effective
   Amendment No. 1 on Form N-1A filed July 25, 1994 (File Nos. 33-52149
   and 811-7141).
5. Response is incorporated by reference to Registrant's Post-Effective
   Amendment No. 6 on Form N-1A filed January 26, 1996 (File Nos. 33-52149
   and 811-7141).



                (9) (i)  Conformed copy of Agreement for Fund Accounting
                         Services, Administrative Services, Transfer
                         Agency Services, and Custody Services
                         Procurement; +
                    (ii) The responses described in Item 24(b)6 are
                         hereby incorporated by reference.
                    (iii)..........On behalf of Federated World Utilty
                    Fund, the .....Registrant hereby incorporates the
                    conformed .....copy of the Shareholder Services Sub-
                    Contract ......between Fidelity and Federated
                    Shareholder ...Services  from Item 24(b)(9)(iii) of the
                         Federated GNMA Trust Registration Statement on
                         Form N-1A, filed with the Commission of March
                         25, 1996. (File nos. 2-75670 and 811-3375)
               (10) Conformed copy of Opinion and Consent of Counsel as to
                    legality of shares being registered; (2)
               (11) Conformed Copy of Independent Auditors Consent;(5)
               (12) Not applicable;
               (13) Conformed copy of Initial Capital  Understanding; (2)
               (14) Not applicable;
               (15) Conformed Copy of Rule 12b-1 Distribution
                    Plan through and including Exhibit R;(5)
               (16) Copy of Schedule for Computation of Fund Performance
                    Data for World Utility Fund; (3)
                         (i) Copy of Schedule for Computation of      Fund
                    Performance Data for Federated Asia     Pacific Growth
                    Fund, Federated Emerging      Market Fund, Federated
                    European Growth     Fund, Federated Small Company Fund,
                         Federated Latin American Groth Fund; +
               (17) Copy of Financial Data Schedules; +
               (18) Conformed Copy of Multiple Class Plan;(5)
               (19) Conformed copy of Power of Attorney; (6)

Item 25.  Persons Controlled by or Under Common Control with Registrant.

          None



+All exhibits have been filed electronically.

2.  Response is incorporated by reference to Registrant's Pre-Effective
   Amendment No.1 on Form N-1A filed March 24, 1994.  (File Nos. 33-52149
   and 811-7141).
3.  Response is incorporated by reference to Registrant's Post-Effective
   Amendment No. 1 on Form N-1A filed July 25, 1994 (File Nos. 33-52149
   and 811-7141).
5. Response is incorporated by reference to Registrant's Post-Effective
   Amendment No. 6 on Form N-1A filed January 26, 1996 (File Nos. 33-52149
   and 811-7141).
6. Response is incorporated by reference to Registrant's Post-Effective
   Amendment No. 7 on Form N-1A filed June 19, 1996 (File Nos. 33-52149
   and 811-7141).



Item 26.  Number of Holders of Securities:
                                        Number of Record Holders
          Title of Class                as of August 21, 1996
          Shares of capital stock
          ($0.001 per Share par value)

          World Utility Fund
          a) Class A Shares                  1,206
          b) Class B Shares                    600
          c) Class C Shares                    364
          d) Class F Shares                    386

          Federated Asia Pacific Growth Fund
          a) Class A Shares                  1,219
          b) Class B Shares                  1,190
          c) Class C Shares                  1,037

          Federated Emerging Markets Fund
          a) Class A Shares                  1,249
          b) Class B Shares                  1,259
          c) Class C Shares                  1,023

          Federated European Growth Fund
          a) Class A Shares                  1,117
          b) Class B Shares                  1,064
          c) Class C Shares                  1,011

          Federated International Small Company Fund
          a) Class A Shares                  1,398
          b) Class B Shares                  1,426
          c) Class C Shares                  1,104

          Federated Latin American Growth Fund
          a) Class A Shares                  1,133
          b) Class B Shares                  1,094
          c) Class C Shares                  1,025

          Federated International High Income Fund:

          a) Class A Shares                  not currently effective
          b) Class B Shares                  not currently effective
          c) Class C Shares                  not currently effective


Item 27.  Indemnification (1).

Item 28.  Business and Other Connections of Investment Adviser:

          For a description of the other business of the Investment
          Adviser, see the section entitled "Management of the Corporation"
          in Part A.  The affiliations with the Registrant of three of the
          Directors and two of the Officers of the Investment Adviser are
          included in Part B of the Registration Statement under "World
          Investment Series, Inc. Management."

          The remaining Officers of the Investment Adviser are:  J.
          Christopher Donahue, President, CEO AND COO; William D. Dawson,
          III, Henry A. Frantzen, J. Thomas Madden, and Mark L. Mallon,
          Executive Vice Presidents; Henry J. Gailliot, Senior Vice
          President-Economist; Peter R. Anderson, Drew J. Collins, Jonathan
          C. Conley, Mark E. Durbiano, J. Alan Minteer, and Mary Jo Ochson,
          Senior Vice Presidents; J. Scott Albrecht, Joseph M. Balestrino,
          Randall S. Bauer, David F. Belton, David A. Briggs, Kenneth J.
          Cody, Deborah A. Cunningham, Michael P. Donnelly, Linda A.
          Duessel, Kathleen M. Foody-Malus, Thomas M. Franks, Stephen A.
          Keen, Mark S. Kopinski, Robert M. Kowit, Jeff A. Kozemchak,
          Marian R. Marinack, Sandra L. McInerney, Susan M. Nason, Robert
          J. Ostrowski, Charles A. Ritter, Frank Semack, William F. Stotz,
          Tracy P. Stouffer, Edward J. Tiedge, Christopher H. Wiles, and
          Jolanta M. Wysoka, Vice Presidents; Thomas R. Donahue, Treasurer,
          and Stephen A. Keen, Secretary. The business address of each of
          the Officers of the Federated Research Division of Federated
          Global Research Corp. is Federated Investors Tower, Pittsburgh,
          PA 15222-3779 or 175 Water Street, New York, New York 10038-4965,
          as applicable.  These individuals are also officers of a majority
          of the investment advisers to the Funds listed in Part B of this
          Registration Statement.

Item 29.  Principal Underwriters:

        (a)    Federated Securities Corp., the Distributor for shares of
          the Registrant, also acts as principal underwriter for the
          following open-end investment companies: 111 Corcoran Funds;
          Annuity Management Series; Arrow Funds; Automated Government
          Money Trust; BayFunds; Blanchard Funds; Blanchard Precious Metals
          Fund, Inc.; Cash Trust Series II; Cash Trust Series, Inc.; DG
          Investor Series; Edward D. Jones & Co. Daily Passport Cash Trust;
          Federated Adjustable Rate U.S. Government Fund, Inc.; Federated
          American Leaders Fund, Inc.; Federated ARMs Fund; Federated
          Equity Funds; Federated Equity Income Fund, Inc.; Federated Fund
          for U.S. Government Securities, Inc.; Federated GNMA Trust;
          Federated Government Income Securities, Inc.; Federated
          Government Trust; Federated High Income Bond Fund, Inc.;
          Federated High Yield Trust; Federated Income Securities Trust;
          Federated Income Trust; Federated Index Trust; Federated
          Institutional Trust; Federated Insurance Series; Federated Master
          Trust; Federated Municipal Opportunities Fund, Inc.; Federated
          Municipal Securities Fund, Inc.; Federated Municipal Trust;
          Federated Short-Term Municipal Trust; Federated Short-Term U.S.
          Government Trust; Federated Stock and Bond Fund, Inc.; Federated
          Stock Trust; Federated Tax-Free Trust; Federated Total Return
          Series, Inc.; Federated U.S. Government Bond Fund; Federated U.S.
          Government Securities Fund: 1-3 Years; Federated U.S. Government
          Securities Fund: 2-5 Years; Federated U.S. Government Securities
          Fund: 5-10 Years; Federated Utility Fund, Inc.; First Priority
          Funds; Fixed Income Securities, Inc.; Fortress Utility Fund,
          Inc.; High Yield Cash Trust; Independence One Mutual Funds;
          Intermediate Municipal Trust; International Series, Inc.;
          Investment Series Funds, Inc.; Investment Series Trust; Liberty
          U.S. Government Money Market Trust; Liquid Cash Trust; Managed
          Series Trust; Marshall Funds, Inc.; Money Market Management,
          Inc.; Money Market Obligations Trust; Money Market Trust;
          Municipal Securities Income Trust; Newpoint Funds; Peachtree
          Funds; RIMCO Monument Funds; SouthTrust Vulcan Funds; Star Funds;
          Targeted Duration Trust; Tax-Free Instruments Trust; The Biltmore
          Funds; The Biltmore Municipal Funds; The Monitor Funds; The
          Planters Funds; The Starburst Funds; The Starburst Funds II; The
          Virtus Funds; Tower Mutual Funds; Trust for Financial
          Institutions; Trust for Government Cash Reserves; Trust for
          Short-Term U.S. Government Securities; Trust for U.S. Treasury
          Obligations; Vision Group of Funds, Inc.; and World Investment
          Series, Inc.

          Federated Securities Corp. also acts as principal underwriter for
          the following closed-end investment company: Liberty Term Trust,
          Inc.- 1999.

          (b)

       (1)                      (2)                   (3)
Name and Principal        Positions and Offices Positions and Offices
 Business Address            With Underwriter               With Registrant


Richard B. Fisher         Director, Chairman, Chief    President and
Federated Investors Tower Executive Officer, ChiefDirector
Pittsburgh, PA 15222-3779 Operating Officer, Asst.
                          Secretary, and Asst.
                          Treasurer, Federated
                          Securities Corp.

Edward C. Gonzales        Director, Executive ViceExecutive Vice
Federated Investors Tower President, Federated,   President
Pittsburgh, PA 15222-3779 Securities Corp.

John W. McGonigle         Director, Federated     Executive Vice
Federated Investors Tower Securities Corp.        President,Secretary
Pittsburgh, PA 15222-3779                         and Treasurer

John B. Fisher            President-Institutional Sales,    --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

James F. Getz             President-Broker/Dealer,     --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Mark R. Gensheimer        Executive Vice President of       --
Federated Investors Tower Bank/Trust, Federated
Pittsburgh, PA 15222-3779 Securities Corp.

Mark W. Bloss             Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Richard W. Boyd           Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Theodore Fadool, Jr.      Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Bryant R. Fisher          Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Christopher T. Fives      Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

James S. Hamilton         Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

James M. Heaton           Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Keith Nixon               Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Solon A. Person, IV       Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Timothy C. Pillion        Senior Vice President,       --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Thomas E. Territ          Senior Vice President,       --
Federated Investors Tower Federated Securities Corp
Pittsburgh, PA 15222-3779

John B. Bohnet            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Byron F. Bowman           Vice President, Secretary,        --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Jane E. Broeren-Lambesis  Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Mary J. Combs             Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

R. Edmond Connell, Jr.    Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Kevin J. Crenny           Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Daniel T. Culbertson      Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

G. Michael Cullen         Vice President,              --
Federated Investors Tower Federated Securites Corp.
Pittsburgh, PA 15222-3779

Laura M. Deger            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Jill Ehrenfeld            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Mark D. Fisher            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Michael D. Fitzgerald     Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Joseph D. Gibbons         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Craig S. Gonzales         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Richard C. Gonzales       Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Scott A. Hutton           Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

H. Joeseph Kenedy         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

William E. Kugler         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Steven A. La Versa        Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Mark J. Miehl             Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Richard C. Mihm           Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

J. Michael Miller         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Michael P. O'Brien        Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Robert D. Oehlschlager    Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Robert F. Phillips        Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Eugene B. Reed            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Paul V. Riordan           Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

John C. Shelar, Jr.       Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779



David W. Spears           Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Jeffrey A. Stewart        Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Jamie M. Teschner         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

William C. Tustin         Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Paul A. Uhlman            Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Richard B. Watts          Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Michael P. Wolff          Vice President,              --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Charlene H. Jennings      Assistant Vice President,         --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

J. Timothy Radcliff       Assistant Vice President,         --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Denis McAuley             Treasurer,                   --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

Thomas R. Donahue         Asstistant Secretary,        --
Federated Investors Tower Assistant Treasurer,
Pittsburgh, PA 15222-3779 Federated Securities Corp.

Joseph M. Huber           Assistant Secretary,         --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

David M. Taylor           Assistant Secretary,
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779

          (c)Not applicable.



Item 30.  Location of Accounts and Records:

All accounts and records required to be maintained by Section 31(a) of the
Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated
thereunder are maintained at one of the following locations:

Registrant                              Federated Investors Tower
                                   Pittsburgh, PA  15222-3779

Federated Shareholder Services Company  P.O. Box 8600
(Transfer Agent, Dividend               Boston, MA 02266-8600
Disbursing Agent and Portfolio
Recordkeeper)

Federated Services Company              Federated Investors Tower
(Administrator)                         Pittsburgh, PA  15222-3779

Federated Global Research Corp.              175 Water Street
(Adviser)                          New York, NY 10038-4965

State Street Bank and Trust Company          P.O. Box 8600
(Custodian)                        Boston, MA 02266-8600
Item 31.  Not applicable.

Item 32.  Undertakings:

          Registrant hereby undertakes to furnish each person to whom a
          prospectus is delivered with a copy of the Registrant's latest
          annual report to shareholders, upon request and without charge.

          Registrant hereby undertakes to comply with the provisions of
          Section 16(c) of the 1940 Act with respect to the removal of
          Directors and the calling of special shareholder meetings by
          shareholders.

          Registrant hereby undertakes to file a post-effective amendment
          on behalf of Federated International High Income Fund using
          financial statements for Federated International High Income
          Fund, which need not be certified, within four to six months from
          its effective date.



                                SIGNATURES

   Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, WORLD INVESTMENT SERIES,
INC., certifies that it meets all of the requirements for effectiveness of
this Amendment to its Registration Statement pursuant to Rule 485(b) under
the Securities Act of 1933 and has duly caused this Amendment to its
Registration Statement to be signed on its behalf by the undersigned,
thereto duly authorized, in the City of Pittsburgh and Commonwealth of
Pennsylvania, on the 29th day of August, 1996.

                       WORLD INVESTMENT SERIES, INC.

               BY: /s/ J.Crilley Kelly
               J. Crilley Kelly, Assistant Secretary
               Attorney in Fact for John F. Donahue
               August 29, 1996

   Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by the
following person in the capacity and on the date indicated:

   NAME                       TITLE                         DATE

By:/s/ J.Crilley Kelly      Attorney In Fact      August 29, 1996
   J. Crilley Kelly         For the Persons
   ASSISTANT SECRETARY      Listed Below

   NAME                       TITLE

John F. Donahue*            Chairman and Director
                            (Chief Executive Officer)

Richard B. Fisher*          President and Director

David M. Taylor*            Treasurer
                            (Principal Financial and
                            Accounting Officer)

Thomas G. Bigley *          Director
John T. Conroy, Jr.*        Director
William J. Copeland*        Director
James E. Dowd*              Director
Lawrence D. Ellis, M.D.*    Director
Edward L. Flaherty, Jr.*    Director
Peter E. Madden*            Director
Gregor F. Meyer*            Director
John E. Murray, Jr.*        Director
Wesley W. Posvar*           Director
Marjorie P. Smuts*          Director

* By Power of Attorney



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