FEDERATED MUNICIPAL SECURITIES FUND, INC.

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

                                     May 30, 2002


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


     RE: FEDERATED MUNICIPAL SECURITIES FUND, INC. (the "Fund")
           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  form of Prospectus and Statement of
Additional  Information  dated March 31, 2002,  that would have been filed under
Rule  497(c),  does not differ  from the form of  Prospectus  and  Statement  of
Additional  Information contained in the most recent Registration  Statement for
the Fund. This Registration Statement was electronically filed under Rule 485(b)
as Post-Effective amendment No. 57 on May 29, 2002.

     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