FORM 12B-25
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549


NOTIFICATION OF LATE FILING

	SEC FILE NUMBER

	___811-6607_

	CUSIP NUMBER

	23321N806
	23321N202
	23321N301
	23321N400
	23321N509
	23321N608
	23321N889
	23321N707
	23321N103

(Check One)

    Form 10-K	    Form 11-K	    Form 20-F	    Form 10-Q	 X  Form N-SAR

For Period Ended: _____December 11, 1998_____________________________
													
Read Instructions (on back page) Before Preparing Form.  Please Print or Type.  
Nothing in this Form shall be construed to imply that the Commission has 
verified any information contained herein.						

If the notification relates to a portion of the filing checked above, identify 
the Item(s) to which the notification relates:						

													
Part I - Registrant Information								

Full Name of Registrant  	DG INVESTOR SERIES				

Former Name if Applicable									

Address of Principal Executive Office  	  FEDERATED INVESTORS TOWER		
 (Street and Number)

City, State, and Zip Code  	PITTSBURGH, PA  15222-3779				

													
Part II - Rules 12b-25 (b) and (c)								

If the subject report could not be filed without unreasonable effort or 
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the 
following should be completed. 
(Check box if appropriate)
	(a)	The reasons described in reasonable detail in Part III of this form 
could not be eliminated without unreasonable effort or expense;

X	(b)	The subject annual report or semi-annual report/portion thereof
_____		will be filed on or before the fifteenth calendar day following
		the prescribed due date; or the subject quarterly report/portion
		thereof will be filed on or before the fifth calendar day
		following the prescribed due date; and

	(c)	The accountant's statement or other exhibit required by Rule 	
		12b-25(c) has been attached if applicable.


													
Part III - Narrative										

State below in reasonable detail the reasons why the Form 10-K, 11-K, 20-F, 
10-Q, or N-SAR or portion thereof, could not be filed within the prescribed 
time period.

Due to Registrant's partial liquidation and termination of business during the 
report period, inadvertent delays occurred in assembling required financial 
data.
													
Part IV - Other Information									

(1)  Name and telephone number of person to contact in regard to this notifi- 
cation

	Gwen Daniels		(617)			985-3548		
	
	(NAME)	(AREA CODE)	(TELEPHONE NUMBER)
													

(2)	Have all other periodic reports required under
		Section 13 or 15(d) of the Securities Exchange 
		Act of 1934 or Section 30 of the Investment 
		Company Act of 1940 during the preceding 12 
		months (or for such shorter period that the 
		registrant was required to file such reports 
		been filed?  							
		If answer is no, identify report(s).			__X__		____
										YES		NO
													

(3)	Is it anticipated that any significant change 
		in results of operations from the corresponding 
		period for the last fiscal year will be reflected 
		by the earnings statements to be included in 
		the subject report or 						
		portion thereof?							____		__X__
										YES		NO

		If so, attach an explanation of the anticipated 
		change, both narratively and quantitatively, 
		and, if appropriate, state the reasons why a 
		reasonable estimate of the results can not be made.
													

DG INVESTOR SERIES
													
(NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

has caused this notification to be signed on its behalf by the undersigned 
thereunto duly authorized.

	DATE	February 9, 1999				
								BY:  /s/	Timothy S. Johnson
								(Name of Fund Attorney)
	Assistant Secretary

INSTRUCTION:  The form may be signed by an executive officer of the registrant 
or by any other duly authorized representative.  The name and title of the 
person signing the form shall be typed or printed beneath the signature.  If 
the statement is signed on behalf of the registrant by an authorized 
representative (other than an executive officer), evidence of the 
representative's authority to sign on behalf of the registrant shall be filed 
with the form.

						ATTENTION						

Intentional misstatements or omissions of fact constitute Federal Criminal 
Violations
	(See 18 U.S.C. 1001)