SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): March 21, 2003


              FEDERATED PREMIER INTERMEDIATE MUNICIPAL INCOME FUND
             (Exact name of registrant as specified in its charter)


              Delaware             001-31563           47-1284989
    (State or other jurisdiction  (Commission         (IRS Employer
          of incorporation)      File Number)      Identification No.)




              5800 Corporate Drive
            Pittsburgh, Pennsylvania                   15237-7000
    (Address of Principal Executive Offices)           (Zip Code)


Registrant's telephone number, including area code:   (800) 341-7400



Item 9.  Regulation FD Disclosure.

      The following information is furnished pursuant to Item 9 of Form 8-K :

Following is information  that may be made publicly  available on or after March
21, 2003.

Overview
Information as of 3/18/03 unless otherwise noted.

Objective:  Current  income  exempt  from  federal  income  tax,  including  the
alternative minimum tax (AMT)

Recommended Benchmark
Lehman Brothers Municipal Bond Index

Pricing
Market Price $13.58 (Source: Bloomberg)
Daily NAV $14.64

Portfolio Managers
Mary Jo Ochson, CFA   -  Began Managing Fund: 12/02
Lee R. Cunningham, II  -   Began Managing Fund: 12/02
R.J. Gallo - Began Managing Fund: 12/02

Yield (%)
Current Yield based on Market Price 5.52
Current Yield based on NAV 5.12
Taxable Equivalent Market Yield* 8.99

Fund History
NYSE Ticker FPT
CUSIP 31423M105
Inception 12/20/02
Inception NAV $14.33
Inception Share Price $15.00

Dividends
Paid Monthly
Record Date: 23rd or the preceding business day of the month
3/03 $0.06250
2/03 $0.06250

Investment Concentration
Intermediate-term municipal securities

Portfolio Assets
$167.5 million


Portfolio Profile
Weighted Average Effective Maturity 9.48 Years
Weighted Average Effective Duration 11.02 Years
to Common
Weighted Average Effective Duration** 6.88 Years
of Gross Assets
Weighted Average Quality Aa2/AA (Rated Only)
Number of Securities 89


Commentary

Information as of 3/18/03 unless otherwise noted.
Portfolio Manager Commentary

Milestones

On December 19, 2002, the Fund issued 6,946,981 Common Shares.

On February 18,  2003,  the fund issued  $61,025,000  auction  market  preferred
shares (AMPS).  The preferred  shares received ratings of AAA from Fitch and Aaa
from Moody's.

On February 10, 2003,  the fund declared a Common Share  dividend of $0.0625 per
share.

Dividends  are payable  monthly.  This  represents a yield of 5.00% based on the
initial offering price of $15.00.

Fund Performance

The fund's initial NAV was $14.33,  after netting out offering  costs.  By March
18,  2003,  the NAV had risen to $14.64,  a gain of 2.16%.  The market price has
fallen to $13.58,  a discount of 7.24%. At this price, the market yield is 5.52%
and the yield based on NAV is 5.12%.

The fund has  generally  traded at a discount to its NAV.  The discount has been
widening,  and its current level is the widest discount to date. Average trading
volume since February 1 has been 15,819 Common Shares per day.

Municipal Market

Since the common share offering,  the municipal market has performed well. After
falling through the end of December and then rising in early January, rates fell
steadily until last week when they began to rise.  According to Municipal Market
Data,  from December 19, 2002 to March 18, 2003, the yield on 10-year  AAA-rated
municipal  bonds fell 6 basis  points  from 3.65% to 3.59%.  The low was 3.39 on
March 12.

According  to the Lehman  Brothers  Aggregate  Municipal  Bond  Index,  the best
performing  segment of the yield curve year-to-date in 2003 has been the 10- and
15-year range. The best performing  sector has been hospitals,  which represents
10% of the fund's assets.

Issuance of long-term  municipal  bonds  remains  strong.  According to The Bond
Buyer total  issuance was $52.3 billion  during the first two months of 2003 vs.
$42.6 billion for the same period last year. Forecasts call for 2003 issuance to
fall short of the record levels of 2002,  but remain  strong  compared to recent
years.

Demand levels have matched supply as all players - retail, funds,  insurers, and
arbitrageurs - have shown their  presence.  Demand has been much stronger in the
intermediate and short segments of the curve.

Investment Strategy

Our  investment  activities  have  concentrated  on getting the  proceeds  fully
invested.  We have purchased 89 securities,  and the fund no longer has any cash
positions.  Going forward our efforts will center on fine-tuning  the profile of
the fund,  consistent with its policies and strategies.  In particular we expect
to increase our holdings of  securities  that are rated BBB or lower  (including
non-rated   securities).   So  far  we  have  filled   about  half  of  our  20%
non-investment-grade basket.


Performance/Portfolio Composition
Information as of 3/18/03 unless otherwise noted.

Cumulative Annual Total Return (%)
                              1 month     Since Inception
Share Price                    -1.52            -9.07
NAV (based on $15.00)           2.44            -1.97
NAV (based on $14.33)           2.47             2.61

Sector Breakdown (Top Six)
Total % of Portfolio: 84.31%
Insured           51.18
Hospital          9.95
Special Tax       7.27
Public Power      5.48
Lifecare          5.48
Electric and Gas  4.95

Premium/Discount of Market Price to NAV
7.24% Discount

Top Ten Holdings
Total % of Portfolio: 25.14%
*Metropolitan Transportation Authority, NY              2.88%

*San Francisco, CA City and County                      2.79%
Airport Commission

*Pennsylvania State IDA, Economic                       2.77%
Development

Salt River Project, AZ Agricultural                     2.73%
Improvement & Power

California State, Refunding UT GO Bonds                 2.68%

*Alaska State Housing Finance Corp.                     2.63%

*Delaware Health Facilities Authority                   2.54%

*Austin, TX Electric Utility System                     2.12%

North Carolina Municipal Power                          2.01%
Agency No. 1

Kentucky Economic Development Finance                   1.99%
*Insured



Quality Breakdown (%)
AAA               52.48
AA/A              20.65
BBB               16.50
BB/B/Non Rated    10.37

Preferred Share Ratings
Moody's Aaa
Fitch AAA
Face Value of Preferred Shares $61,025,000


*Taxable  Equivalent  Market Yields - In  calculating  these yields,  the market
yield is divided by (1 minus the applicable tax rate).  The maximum  federal tax
rate  (38.6%) is used when  calculating  the taxable  equivalent  market  yield.
Federal Tax Rates are based on the 2003 rates as stated in the  Economic  Growth
and Tax Relief Reconciliation Act of 2001.

**Duration is a measure of a security's price sensitivity to changes in interest
rates.  Securities  with  longer  durations  are more  sensitive  to  changes in
interest rates than securities of shorter durations.

The Fund is a closed-end  fund.Unlike  open-end funds,  closed-end funds are not
continually  offered.There is a one-time public offering and once issued, shares
of closed-end funds are bought and sold in the open market.Consequently,  shares
of closed-end funds may trade at, above or below their net asset values ("NAV").
If a closed-end fund's shares trade at a price below their NAV, they are said to
be trading at a "discount." Conversely, if a closed-end fund's shares trade at a
price above  their NAV,  they are said to be trading at a  "premium."  Shares of
closed-end funds frequently trade at a discount.

The Fund  offers  Common  Shares and  Preferred  Shares.  The Daily NAV,  Yield,
Dividends,  Fund History and Annual Return information provided herein relate to
Common Shares only.Unlike Preferred Shares, Common Shares are not rated.

The Fund's  issuance of Preferred  Shares creates  leverage risks for holders of
Common  Shares.Two  major types of risks  created by leverage  include:  (1) the
likelihood  of  greater  volatility  of NAV and market  price of Common  Shares,
because  changes  in the  value of the  Fund's  portfolio  securities  are borne
entirely by holders of Common Shares; and (2) the possibility either that income
available for Common Share dividends will fall if the Preferred  Shares dividend
rate rises, or that income  available for Common Shares dividends will fluctuate
because the Preferred Shares dividend rate varies.

The Fund invests in high-yield,  lower-rated  securities  that generally  entail
greater market, credit and liquidity risks than investment grade securities.

Please  refer  to the  Fund's  prospectus  for  more  information  on the  risks
associated with an investment in the Fund.

Income may be subject to state and local taxes.

Past performance is no guarantee of future results.  Investment  return,  price,
yields,  and  NAV  will  fluctuate.  Total  returns  of  less  than 1  year  are
cumulative.

Portfolio composition is subject to change.

Credit ratings pertain only to the securities in the Fund's portfolio and do not
protect Fund shares against market risk.

For additional information,  including definitions of related terms and indexes,
see the Financial Glossary and Benchmark Index Glossary.

The fund's  Common  Shares are only  available  for purchase and sale on the New
York Stock  Exchange at the current  market price.  Common shares may trade at a
discount to NAV.

Consult your investment professional for further information.

NOT FDIC INSURED  -  MAY LOSE VALUE  -  NO BANK GUARANTEE






SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                             FEDERATED PREMIER INTERMEDIATE MUNICIPAL INCOME
                             FUND
                                                (Registrant)



                             By         /s/ Mary Jo Ochson
                                        Mary Jo Ochson
                                        Vice President


Date:  March 21, 2003