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stroke


PENNSYLVANIA MUNICIPAL CASH TRUST
(A Portfolio of Federated Municipal Trust)
Cash Series Shares
Supplement to Prospectus dated February 28, 1995 for investors in the State
of Ohio
   
   Ohio Administrative Code 1301:6-3-09(E)(12) prohibits an investment
   company from investing more than fifteen per cent of its total assets in
   restricted securities or securities of unseasoned issuers. Ohio
   Administrative Code 1301:6-3-09(F) permits an investment company to
   exceed this fifteen percent limit provided that the investment company
   informs investors of its intentions.
   
   
   The purpose of this supplement is to inform Ohio investors that the Fund,
   through its investment in certain securities determined by the Fund's
   Board of Trustees to be liquid, may exceed the fifteen percent limitation
   established by the State of Ohio with respect to restricted securities.
   
                                                               July 18, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip 314229881
    G00215-03 (7/95)


PENNSYLVANIA MUNICIPAL CASH TRUST
(A Portfolio of Federated Municipal Trust)
Institutional Service Shares
Supplement to Prospectus dated February 28, 1995 for investors in the State
of Ohio
   
   Ohio Administrative Code 1301:6-3-09(E)(12) prohibits an investment
   company from investing more than fifteen per cent of its total assets in
   restricted securities or securities of unseasoned issuers. Ohio
   Administrative Code 1301:6-3-09(F) permits an investment company to
   exceed this fifteen percent limit provided that the investment company
   informs investors of its intentions.
   
   The purpose of this supplement is to inform Ohio investors that the Fund,
   through its investment in certain securities determined by the Fund's
   Board of Trustees to be liquid, may exceed the fifteen percent limitation
   established by the State of Ohio with respect to restricted securities.
   
                                                               July 18, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip 314229204
    G00215-04 (7/95)


PENNSYLVANIA MUNICIPAL CASH TRUST
(A Portfolio of Federated Municipal Trust)
Cash Series Shares
Institutional Service Shares
Supplement to Prospectuses dated February 28, 1995

1. The following is to be inserted at the end of the first paragraph of the
section entitled "General Information,"  on page 3 of your respective 
prospectus:

      " Effective July 18, 1995, Pennsylvania Municipal Cash Trust
      added a separate class of shares called Institutional Shares. A
      prospectus for the Institutional Shares of Pennsylvania
      Municipal Cash Trust  is available by writing to Federated
      Securities Corp."
      
2. The following is to be inserted at the end of the first paragraph of the
section entitled "Voting     Rights" on page 14 of your respective prospectus:

      As of July 3, 1995, BHC Securities Inc., Philadelphia, PA, owned
      approximately 6,199,358 shares (27.18%) of the voting securities
      of the Pennsylvania Municipal Cash Trust-Cash Series Shares; and
      therefore, may, for certain purposes, be deemed to control the
      Fund and be able to affect the outcome of certain matters
      presented for a vote of shareholders.



                                                               July 18, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip 314229881
    Cusip 314229204
    G00215-02 (7/95)