FEDERATED MUNICIPAL SECURITIES FUND, INC.


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

                                        June 2, 2003


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 "Trust")
           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
Trust hereby  certifies that the definitive  form of Prospectus and Statement of
Additional Information dated May 31, 2003, that would have been filed under Rule
497(c), does not differ from the forms of Prospectus and Statement of Additional
Information  contained in the most recent Registration  Statement for the Trust.
This  Registration  Statement  was  electronically  filed  under Rule  485(b) as
Post-Effective amendment No. 58 on May 28, 2003.

     If you have any questions regarding this  certification,  please contact me
at (412) 288-2614.

                                                Very truly yours,



                                                /s/ Andrew P. Cross
                                                Andrew P. Cross
                                                Assistant Secretary