FEDERATED MUNICIPAL SECURITIES FUND, INC.

                               Federated Investors Funds
                                 5800 Corporate Drive
                          Pittsburgh, Pennsylvania 15237-7000

                                     May 30, 2001


EDGAR Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC  20549

     RE: FEDERATED MUNICIPAL SECURITES FUND, INC. (the "Fund")
            Class A Shares
            Class B Shares
            Class C Shares
           1933 Act File No. 2-57181
           1940 Act File No. 811-2677

Dear Sir or Madam:

     Pursuant to Rule 497(j) of the Securities Act of 1933, the above-referenced
Fund hereby  certifies that the definitive  forms of Prospectus and Statement of
Additional Information dated May 31, 2001, that would have been filed under Rule
497(c),  do not differ from the forms of Prospectus  and Statement of Additional
Information  contained in the most recent  Registration  Statement for the Fund.
This Registration  Statement was  electronically  filed 485(b) as Post-Effective
amendment No. 56 on May 25, 2001.

     If you have any questions regarding this  certification,  please contact me
at (412) 288-7404.

                                                Very truly yours,



                                                /s/ Leslie K. Ross
                                                Leslie K. Ross
                                                Assistant Secretary