FEDERATED ASIA PACIFIC GROWTH FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATE MARCH 31, 2000
Under the section entitled "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 18,
please replace the section with the following:
ALEXANDRE DE BETHMANN
Alexandre de Bethmann has been the Fund's Portfolio Manager since inception. Mr.
de Bethmann joined Federated in 1995 as a Senior Portfolio Manager and a Vice
President of the Fund's Adviser. Mr. de Bethmann served as Assistant Vice
President/Portfolio Manager for Japanese and Korean equities at the College
Retirement Equities Fund from 1994 to 1995. Mr. de Bethmann is a Chartered
Financial Analyst. He received his M.B.A. in Finance from Duke University.
STEPHEN F. AUTH
Stephen F. Auth has been the Fund's Portfolio Manager since May, 2000. Mr. Auth
joined Federated in May 2000 as Senior Vice President and Director of the Global
Portfolio Management of the Fund's Adviser. From 1985 through March 2000, Mr.
Auth was employed with Prudential Investments, a unit of Prudential Insurance
Company of America, where he served as a Portfolio Manager since September 1991
and also as Senior Managing Director. Mr. Auth is a Chartered Financial Analyst.
He earned a Bachelors Degree from Princeton University and an M.B.A. from
Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 until 1995. Mr. Frantzen
earned his bachelors degree in Business Administration from the University of
North Dakota.
June 30, 2000
Cusip 31428U102
31428U201
31428U300
25540 (6/00) 514055
FEDERATED EMERGING MARKETS FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 2000
Under "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 18, please replace the
section with the following:
CHRISTOPHER MATYSZEWSKI
Christopher Matyszewski has been the Fund's Portfolio Manager since July, 1999.
Mr. Matyszewski joined Federated in June 1997 as an Investment Analyst. He was
named a Portfolio Manager and an Assistant Vice President of the Adviser in July
1999 and became a Vice President of the Fund's Adviser in January 2000. He was a
Securities Trader for Brandes Investment Partners from September 1994 through
January 1996. Mr. Matyszewski earned his Masters of International Management
from Thunderbird, The American Graduate School for International Management in
May 1997.
STEPHEN F. AUTH
Stephen F. Auth has been the Fund's Portfolio Manager since May, 2000 Mr. Auth
joined Federated in May 2000 as Senior Vice President and Director of the Global
Porfolio Management of the Fund's Adviser. From 1985 through March 2000, Mr.
Auth was employed with Prudential Investments, a unit of Prudential Insurance
Company of America, where he served as a Portfolio Manager since September 1991
and also as Senior Managing Director. Mr. Auth is a Chartered Financial Analyst.
He earned a Bachelors Degree from Princeton University and an M.B.A. from
Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 until 1995. Mr. Frantzen
earned his bachelors degree in Business Administration from the University of
North Dakota.
June 30, 2000
Cusip 31428U409
31428U508
31428U607
25539 (6/00) 514056
FEDERATED EUROPEAN GROWTH FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 2000
Under the section entitled, "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 18,
please replace the section with the following:
FRANK SEMACK
Frank Semack has been a Portfolio Manager of the Fund since its inception. Mr.
Semack joined Federated in 1995 as a Senior Portfolio Manager and a Vice
President of the Fund's Adviser. Mr. Semack served as an Investment Analyst at
Omega Advisers, Inc. from 1993 to 1994. Mr. Semack received his M.Sc. in
economics from the London School of Economics.
STEPHEN F. AUTH
Stephen F. Auth has been a Portfolio Manager of the Fund since May 2000. Mr.
Auth joined Federated in May 2000 as Senior Vice President and Director of
Global Portfolio Management of the Fund's Adviser. From 1985 through March 2000,
Mr. Auth was employed with Prudential Investments, a unit of Prudential
Insurance Company of America, where he served as a Portfolio Manager since
September 1991 and also as Senior Managing Director. Mr. Auth is a Chartered
Financial Analyst. He earned a Bachelors Degree from Princeton University and an
M.B.A. from Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 to 1995. Mr. Frantzen earned
his bachelors degree in Business Administration from the University of North
Dakota.
June 30, 2000
Cusip 31428U706
Cusip 31428U805
Cusip 31428U888
514054
25549 (6/00)
FEDERATED GLOBAL FINANCIAL SERVICES FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 2000
Under the section entitled, "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 19,
please replace the section with the following:
MARK HALPERIN
Mark Halperin joined the Fund's Adviser as a Senior Portfolio Manager and a Vice
President in 1998 and has been a Portfolio Manager of the Fund since September
1998. Mr. Halperin served as Associate Director/Portfolio Manager at UOB Asset
Management from 1996 through August 1998. From 1993 through 1995, Mr. Halperin
was Vice President, Asian Equities, at Massachusetts Financial Services Co. Mr.
Halperin earned his M.A. with a major in municipal finance from the University
of Illinois.
STEPHEN F. AUTH
Stephen F. Auth has been a Portfolio Manager of the Fund since May 2000. Mr.
Auth joined Federated in May 2000 as Senior Vice President and Director of
Global Portfolio Management of the Fund's Adviser. From 1985 through March 2000,
Mr. Auth was employed with Prudential Investments, a unit of Prudential
Insurance Company of America, where he served as a Portfolio Manager since
September 1991 and also as Senior Managing Director. Mr. Auth is a Chartered
Financial Analyst. He earned a Bachelors Degree from Princeton University and an
M.B.A. from Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 to 1995. Mr. Frantzen earned
his bachelors degree in Business Administration from the University of North
Dakota.
June 30, 2000
Cusip 31428U847
Cusip 31428U839
Cusip 31428U821
514058
25550 (6/00)
FEDERATED INTERNATIONAL SMALL COMPANY FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 2000
Under the section entitled, "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 15,
please replace the section with the following:
LEONARDO A. VILA
Leonardo A. Vila has been a Portfolio Manager of the Fund since July 1999. Mr.
Vila joined Federated in 1995 as a Quantitative Analyst. He served as an
Assistant Vice President of the Fund's Adviser from January 1998 to July 1999;
in April 1998 he was named a Senior Investment Analyst. He was named a Portfolio
Manager and a Vice President of the Adviser in July 1999. From April 1994 to
September 1995, Mr. Vila was an Equity Research Manager with the American Stock
Exchange. Mr. Vila earned his M.B.A. from St. John's University.
REGINA CHI
Regina Chi has been a Portfolio Manager of the Fund since May 2000. Ms. Chi
joined Federated in August 1999 as a Senior Investment Analyst. Ms. Chi was
previously employed with Clay Finlay, Inc., where she served as a Vice
President/Portfolio Manager from July 1997 to July 1999 and as a Research
Analyst from June 1994 to July 1997. Ms. Chi earned her B.A. in economics and
philosophy from Columbia University.
STEPHEN F. AUTH
Stephen F. Auth has been a Portfolio Manager of the Fund since May 2000. Mr.
Auth joined Federated in May 2000 as Senior Vice President and Director of
Global Portfolio Management of the Fund's Adviser. From 1985 through March 2000,
Mr. Auth was employed with Prudential Investments, a unit of Prudential
Insurance Company of America, where he served as a Portfolio Manager since
September 1991 and also as Senior Managing Director. Mr. Auth is a Chartered
Financial Analyst. He earned a Bachelors Degree from Princeton University and an
M.B.A. from Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 to 1995. Mr. Frantzen earned
his bachelors degree in Business Administration from the University of North
Dakota.
June 30, 2000
Cusip 31428U748
Cusip 31428U730
Cusip 31428U722
514059
25548 (6/00)
FEDERATED GLOBAL EQUITY INCOME FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATE MARCH 31, 2000
Under "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 18, please replace the
section with the following:
RICHARD J. LAZARCHIC
Richard J. Lazarchic has been a Portfolio Manager of the Fund since inception.
Mr. Lazarchic joined Federated in 1998 as a Senior Portfolio Manager and Vice
President of the Fund's Adviser. From May 1979 through October 1997, Mr.
Lazarchic was employed with American Express Financial Corp., initially as an
Analyst and then as a Vice President/Senior Portfolio Manager. Mr. Lazarchic is
a Chartered Financial Analyst. He received his M.B.A. from Kent State
University.
RICHARD WINKOWSKI
Richard Winkowski has been the Fund's Portfolio Manager since December, 1999 Mr
Winkowski joined Federated as a Senior Investment Analyst in April 1998 and
became an Assistant Vice President of the Fund's Adviser in July 1999. He served
as a Senior Research Analyst with Union Bank of Switzerland from October 1997
through March 1998. He was employed with American Express Financial Corp. as a
Statistical Analyst from 1994 through January 1995 and then as a Portfolio
Manager Assistant until September 1997. Mr. Winkowski earned his B.A. from the
University of Wisconsin.
STEPHEN F. AUTH
Stephen F. Auth has been the Fund's Portfolio Manager since May, 2000. Mr. Auth
joined Federated in May 2000 as Senior Vice President and Director of Global
Portfolio Management of the Fund's Adviser. From 1985 through March 2000, Mr.
Auth was employed with Prudential Investments, a unit of Prudential Insurance
Company of America, where he served as a Portfolio Manager since September 1991
and also as Senior Managing Director. Mr. Auth is a Chartered Financial Analyst.
He earned a Bachelors Degree from Princeton University and an M.B.A. from
Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 until 1995. Mr. Frantzen
earned his bachelors degree in Business Administration from the University of
North Dakota.
In addition, under the section entitled "WHAT ARE THE FUND'S INVESTMENT
STRATEGIES?" please delete the first sentence and replace it with the following:
"The Fund pursues its investment objective by investing primarily, but not
exclusively, in equity securities of U.S. and foreign companies which are
represented in the Morgan Stanley Capital World Index."
June 30, 2000
Cusip 31428U870
31428U862
31428U854
25542(6/00) 514057
FEDERATED INTERNATIONAL GROWTH FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATE MARCH 31, 2000
Under "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 19, please replace the
section with the following:
STEPHEN F. AUTH
Stephen F. Auth has been the Fund's Portfolio Manager since May, 2000. Mr. Auth
joined Federated in May 2000 as Senior Vice President and Director of Global
Portfolio Management of the Fund's Adviser. From 1985 through March 2000, Mr.
Auth was employed with Prudential Investments, a unit of Prudential Insurance
Company of America, where he served as a Portfolio Manager since September 1991
and also as Senior Managing Director. Mr. Auth is a Chartered Financial Analyst.
He earned a Bachelors Degree from Princeton University and an M.B.A. from
Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 until 1995. Mr. Frantzen
earned his bachelors degree in Business Administration from the University of
North Dakota.
June 30, 2000
Cusip 31428U813
31428U797
31428U789
25541 (6/00)
514061
FEDERATED INTERNATIONAL HIGH INCOME FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATE MARCH 31, 2000
Under "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 23, please replace the
section with the following:
MICHEAL W. CASEY, PH.D.
Micheal W. Casey, Ph.D. has been the Fund's Portfolio Manager since January,
1997. Mr. Casey joined Federated in 1996 as a Senior Investment Analyst and an
Assistant Vice President. Mr. Casey has been a Vice President of the Adviser
since 1998. Mr. Casey served as an International Economist and Portfolio
Strategist for Maria Fiorini Ramirez Inc. from 1990 to 1996. Mr. Casey earned a
Ph.D. concentrating in economics from The New School for Social Research and a
M.Sc. from the London School of Economics.
ROBERT M. KOWIT
Robert M. Kowit has been the Fund's Portfolio Manager since September, 1996. Mr.
Kowit joined Federated in 1995 as a Senior Portfolio Manager and a Vice
President of the Fund's Adviser. Mr. Kowit served as a Managing Partner of
Copernicus Global Asset Management from January 1995 through October 1995. From
1990 to 1994, he served as Senior Vice President/Portfolio Manager of
International Fixed Income and Foreign Exchange for John Hancock Advisers. Mr.
Kowit received his M.B.A. from Iona College with a concentration in finance.
STEPHEN F. AUTH
Stephen F. Auth has been the Fund's Portfolio Manager since May, 2000. Mr. Auth
joined Federated in May 2000 as Senior Vice President and Director of the Global
Portfolio Management of the Fund's Adviser. From 1985 through March 2000, Mr.
Auth was employed with Prudential Investments, a unit of Prudential Insurance
Company of America, where he served as a Portfolio Manager since September 1991
and also as Senior Managing Director. Mr. Auth is a Chartered Financial Analyst.
He earned a Bachelors Degree from Princeton University and an M.B.A. from
Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 until 1995. Mr. Frantzen
earned his bachelors degree in Business Administration from the University of
North Dakota.
In addition on page 21 of the Prospectus, under the sub-section entitled
"DIVIDENDS AND CAPITAL GAINS", please delete the first paragraph of the current
section titled "Dividends and Capital Gains" and replace it with the following:
"The Fund declares and pays any dividends monthly to shareholders.
Dividends are paid to all Shareholders invested in the Fund on the record
Date. The record date is the date on which a shareholder must officially
own Shares in order to earn a dividend."
June 30, 2000
Cusip 31428U771
31428U763
31428U755
25543 (6/00) 514060
FEDERATED WORLD UTILITY FUND
(A PORTFOLIO OF FEDERATED WORLD INVESTMENT SERIES, INC.)
CLASS A SHARES
CLASS B SHARES
CLASS C SHARES
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 2000
Under the section entitled, "THE FUND'S PORTFOLIO MANAGERS ARE:" on page 18,
please replace the section with the following:
RICHARD J. LAZARCHIC
Richard J. Lazarchic has been a Portfolio Manager of the Fund since March 1998.
Mr. Lazarchic joined Federated in 1998 as a Senior Portfolio Manager and Vice
President of the Fund's Adviser. From May 1979 through October 1997, Mr.
Lazarchic was employed with American Express Financial Corp., initially as an
Analyst and then as a Vice President/Senior Portfolio Manager. Mr. Lazarchic is
a Chartered Financial Analyst. He received his M.B.A. from Kent State
University.
RICHARD WINKOWSKI
Richard Winkowski has been a Portfolio Manager of the Fund since December 1999.
Mr. Winkowski joined Federated as a Senior Investment Analyst in April 1998 and
was promoted to Assistant Vice President of the Fund's Adviser in July 1999. He
served as a Senior Research Analyst with Union Bank of Switzerland from October
1997 through March 1998. He was employed with American Express Financial Corp.
as a Statistical Analyst from April 1994 through January 1995 and then as a
Portfolio Manager Assistant until September 1997. Mr. Winkowski earned his B.A.
from the University of Wisconsin.
STEPHEN F. AUTH
Stephen F. Auth has been a Portfolio Manager of the Fund since May 2000. Mr.
Auth joined Federated in May 2000 as Senior Vice President and Director of
Global Portfolio Management of the Fund's Adviser. From 1985 through March 2000,
Mr. Auth was employed with Prudential Investments, a unit of Prudential
Insurance Company of America, where he served as a Portfolio Manager since
September 1991 and also as Senior Managing Director. Mr. Auth is a Chartered
Financial Analyst. He earned a Bachelors Degree from Princeton University and an
M.B.A. from Harvard University.
HENRY A. FRANTZEN
Henry A. Frantzen is the Chief Investment Officer for global and international
investments. Mr. Frantzen joined Federated in 1995 as an Executive Vice
President of the Fund's Adviser and has overseen the operations of the Adviser
since its formation. In 1999, Mr. Frantzen became a Director of the Fund's
Adviser. Mr. Frantzen served as Chief Investment Officer of international
equities at Brown Brothers Harriman & Co. from 1992 to 1995. Mr. Frantzen earned
his bachelors degree in Business Administration from the University of North
Dakota.
June 30, 2000
Cusip 31428U672
Cusip 31428U664
Cusip 31428U656
514053
25547(6/00)
