Amendment to

                                  Exhibit 23(e)(iv) under Form N-1A
                                  Exhibit 1 under Item 601/Reg. S-K


                           Amendment to

                      Distributor's Contracts

                              between

                        the Federated Funds

                                and

                    Federated Securities Corp.



      This Amendment to the Distributor's Contracts (each an
"Agreement" and together, the "Agreements") between the Federated
Funds listed on Exhibit A, (each a "Fund" and collectively, the
"Funds") and Federated Securities Corp. ("Distributor") is made
and entered into as of the 1st day of  October, 2003.



           WHEREAS, each Fund has entered into an Agreement with
the Distributor under and pursuant to which the Distributor is
the principal underwriter of the shares of the Fund;



           WHEREAS, the Securities and Exchange Commission and the
United States Treasury Department ("Treasury Department") have
adopted a series of rules and regulations arising out of the USA
PATRIOT Act (together with such rules and regulations, the
"Applicable Law"), specifically requiring certain financial
institutions, including the Funds and the Distributor, to
establish a written anti-money laundering and customer
identification program ("Program");



      WHEREAS, each of the Funds and the Distributor have
established a Program and wish to amend the Agreements to reflect
the existence of such Programs and confirm the allocation of
responsibility for the performance of certain required functions;



           NOW, THEREFORE, the parties intending to be legally
bound agree and amend each Agreement as follows:



1.    The Funds and the Distributor each represent, warrant and
   certify that they have established, and covenant that at all
   times during the existence of each respective Agreement they
   will maintain, a Program in compliance with Applicable Law.

2.    The Funds each represent and warrant that the Funds have
   entered into an amendment to the agreement with the transfer
   agent of the Funds, pursuant to which the transfer agent has
   agreed to perform all activities, including the establishment
   and verification of customer identities as required by
   Applicable Law or its Program, with respect to all customers on
   whose behalf Distributor maintains an account with the Funds.

3.    Distributor covenants that it will enter into appropriate
   amendments to selling or other agreements with financial
   institutions that establish and maintain accounts with the
   Funds on behalf of their customers, pursuant to which such
   financial institutions covenant to establish and maintain a
   Program with respect to those customers in accordance with
   Applicable Law.



In all other respects, each Agreement first referenced above
shall remain in full force and effect.



   WITNESS the due execution hereof as of the 1st day of October,
   2003.



                      FUNDS



                      By:  /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇

                      Name:  ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇

                      Title:   Executive Vice President





                      federated Securities Corp.



                      By:  /s/ ▇▇▇▇▇ ▇. ▇▇▇▇

                      Name:  ▇▇▇▇▇ ▇. ▇▇▇▇

Title:      President - Broker/Dealer