WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

 

<ARTICLE>                         6
<CIK>                             0000201801
<NAME>                            Federated Municpal Securities Fund, Inc.

     <NUMBER>                     002
     <NAME>                       Federated Municpal Securities Fund, Inc.-Class B

                               
<PERIOD-TYPE>                     6-mos
<FISCAL-YEAR-END>                 Mar-31-2001
<PERIOD-END>                      Sep-30-2000
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<NUMBER-OF-SHARES-REDEEMED>       (856,328)
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<NET-CHANGE-IN-ASSETS>            (24,121,810)
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[AVG-DEBT-OUTSTANDING]            0
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