N-CSR/A 1 fmsfform.txt United States Securities and Exchange Commission Washington, D.C. 20549 Amended Form N-CSR Certified Shareholder Report of Registered Management Investment Companies 811-2677 (Investment Company Act File Number) Federated Municipal Securities Fund, Inc. _______________________________________________________________ (Exact Name of Registrant as Specified in Charter) Federated Investors Funds 5800 Corporate Drive Pittsburgh, Pennsylvania 15237-7000 (412) 288-1900 (Registrant's Telephone Number) John W. McGonigle, Esquire Federated Investors Tower 1001 Liberty Avenue Pittsburgh, Pennsylvania 15222-3779 (Name and Address of Agent for Service) (Notices should be sent to the Agent for Service) Date of Fiscal Year End: 3/31/05 Date of Reporting Period: Fiscal year ended 3/31/05 Item 4 (g) in the original N-CSR filing for the fiscal year ended March, 31, 2005, is corrected to read: (g) Non-Audit Fees billed to the registrant, the registrant's investment adviser, and certain entities controlling, controlled by or under common control with the investment adviser: Fiscal year ended 2005 - $192,387 Fiscal year ended 2004 - $282,942 Item 12. Exhibits SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant Federated Municipal Securities Fund, Inc. By /S/ Richard J. Thomas, Principal Financial Officer (insert name and title) Date: August 15, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By /S/ J. Christopher Donahue, Principal Executive Officer Date August 15, 2005 By /S/ Richard J. Thomas, Principal Financial Officer Date August 15, 2005