Exhibit (m) (ii) under Form N-1A
                                          Exhibit (1) under Item 601/Reg. S-K

                                       EXHIBIT A
                                         to the
                                       12b-1 Plan

                        LIBERTY MUNICIPAL SECURITIES FUND, INC.

                                     Class C Shares


     This Plan is  adopted by  Liberty  Municipal  Securities  Fund,  Inc.  with
respect to the Class of Shares of the Corporation set forth above.

     In compensation for the services  provided  pursuant to this Plan, FSC will
be paid a monthly  fee  computed  at the annual rate of .75 of 1% of the average
aggregate net asset value of the Class C Shares of Liberty Municipal  Securities
Fund, Inc. held during the month.

      Witness the due execution hereof this 4th day of May, 1993.


                                    LIBERTY MUNICIPAL SECURITIES
                                              FUND, INC.


                                    By: /s/ J. Christopher Donahue
                                       -------------------------------
                                                            President