EX-99.77Q1 OTHR EXHB

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


We consent to the incorporation by reference
in this Post-Effective Amendment No. 74 to
Registration Statement No. 2-29786 on Form
N-1A of our report dated May 18, 2005, relating to the
financial statements of Federated American
 Leaders Fund, Inc., for the year ended March 31, 2005,
and to the reference made to our firm under
 the caption Financial Highlights in the Prospectus and
Independent Registered Public Accounting
Firm in the Statement of Additional Information, both
of which are part of such Registration Statement.

DELOITTE & TOUCHE LLP

Boston, Massachusetts
May 26, 2005

EX-99.77Q1 OTHR EXHB

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders
of Federated American Leaders Fund, Inc.:


In planning and performing our audit of
the financial statements of Federated American Leaders
Fund, Inc. (the Fund) for the year ended
March 31, 2005 (on which we have issued our report
dated May 18, 2005), we considered its
internal control, including control activities for
safeguarding securities, in order to
determine our auditing procedures for the purpose of
expressing our opinion on the financial
 statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on
 the Funds internal control.

The management of the Fund is responsible
for establishing and maintaining internal control.  In
fulfilling this responsibility, estimates
and judgments by management are required to assess the
expected benefits and related costs of
controls.  Generally, controls that are
 relevant to an audit
pertain to the entits objective of
preparing financial statements for
external purposes that are
fairly presented in conformity with
accounting principles generally accepted
in the United States
of America.  Those controls include the
 safeguarding of assets against unauthorized acquisition,
use, or disposition.

Because of inherent limitations in any
 internal control, misstatements due to
 error or fraud may
occur and not be detected.  Also,
 projections of any evaluation of
internal control to future
periods are subject to the risk that
 the internal control may become inadequate because of changes
in conditions or that the effectiveness
of the design and operation may deteriorate.

Our consideration of the Funds internal
control would not necessarily disclose all matters in
internal control that might be material
 weaknesses under standards established by the Public
Company Accounting Oversight Board
(United States).  A material weakness is a condition in
which the design or operation of one or
 more of the internal control components does not reduce
to a relatively low level the risk that
 misstatements caused by error or fraud
in amounts that
would be material in relation to the
 financial statements being audited may occur and not be
detected within a timely period by
employees in the normal course of performing their assigned
functions.  However, we noted no matters
involving the Funds internal control and its operation,
including controls for safeguarding
securities that we consider to be material weaknesses as
defined above as of March 31, 2005.

This report is intended solely for the
 information and use of management, the Board of Directors
and Shareholders of Federated American
Leaders Fund Inc. and the Securities and Exchange
Commission and is not intended to be and
 should not be used by anyone other than these
specified parties.

DELOITTE & TOUCHE LLP

Boston, Massachusetts
May 18, 2005