INDEPENDENT AUDITORS' CONSENT


We consent to the use in this Post-Effective
Amendment No. 73 to Registration Statement No.
 2-29786 on Form N-1A of our report dated May
14, 2004 relating to the financial statements of
Federated American Leaders Fund, Inc. for the
year ended March 31, 2004, and to the reference
to us under the headings "Financial Highlights"
in the Prospectus and "Independent Auditors" in
the Statement of Additional Information, which
are part of such Registration Statement.

DELOITTE & TOUCHE LLP

Boston, Massachusetts,
May 28, 2004