FEDERATED MUNICIPAL SECURITIES FUND, INC.

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


                                  June 2, 2004





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 May 31, 2004, 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. 59 on June 1, 2004.

     If you have any questions regarding this  certification,  please contact me
at (412) 288-7268.



                                            Very truly yours,



                                            /s/ George F. Magera
                                                George F. Magera
                                                Assistant Secretary