Federated American Leaders Fund, Inc.

Cash Trust Series, Inc.

Government Cash Series

Municipal Cash Series

Prime Cash Series

Treasury Cash Series

Cash Trust Series II

Treasury Cash Series II

Federated Adjustable Rate Securities Fund

Federated Equity Funds

Federated Capital Appreciation Fund

Federated Clover Mid Value Fund

Federated Clover Small Value Fund

Federated Clover Value Fund

Federated Kaufmann Large Cap Fund

Federated Kaufmann Small Cap Fund

Federated Market Opportunity Fund

Federated Mid Cap Growth Strategies Fund

Federated Prudent Bear Fund

Federated Strategic Value Fund

Federated Fixed Income Securities, Inc.

Federated Municipal Ultrashort Fund

Federated High Income Bond Fund, Inc.

Federated Income Securities Trust

Federated Fund for U.S. Government Securities

Federated Intermediate Corporate Bond Fund

Federated Muni and Stock Advantage Fund

Federated Prudent Global Income Fund

Federated Real Return Bond Fund

Federated Short-Term Income Fund

Federated Index Trust

Federated Max-Cap Index Fund

Federated Mid-Cap Index Fund

Federated Mini-Cap Index Fund

Federated Institutional Trust

Federated Government Ultrashort Duration Fund

Federated Institutional High Yield Bond Fund

Federated Intermediate Government/Corporate Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Securities Income Trust

Federated California Municipal Income Fund

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated New York Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Stock Trust

Federated Total Return Series, Inc.

Federated Mortgage Fund

Federated Ultrashort Bond Fund

Federated U.S. Government Securities Fund: 1-3 Years

Federated U.S. Government Bond Fund

Intermediate Municipal Trust

Federated Intermediate Municipal Trust

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SUPPLEMENT TO THE CURRENT STATEMENTS OF ADDITIONAL INFORMATION

The following information pertains to all classes of the above named Federated Funds

1.  As of March 31, 2009, Thomas G. Bigley retired from his position as a Trustee/Director of the above-named Funds and as a member of the Board of Directors’/Trustees’ Audit Committee and Nominating Committee.

June 9, 2009

40708 (6/09)