Company Press Release

PITTSBURGH, June 24 /PRNewswire-FirstCall/ -- Federated Investors, Inc. (NYSE: FII - News), one of the nation's largest investment managers, today announced the addition of John Leibee as a new portfolio manager and the promotion of Jonathan E. Gold to portfolio manager on the Federated Kaufmann team. The team is led by Lawrence E. Auriana and Hans P. Utsch -- who have more than 85 years of combined investment management experience -- and now consists of eight portfolio managers and six research analysts.

Leibee focuses on security selection primarily in the industrials sector for the Federated Kaufmann Fund and the Federated Kaufmann Large Cap Fund. He served as managing director for equity capital markets at Citigroup Global Markets. As a member of Citigroup's most senior equity committees, Leibee helped determine asset allocations for retail and institutional brokers. In 2007 he worked at Ospraie Management, an $8 billion hedge fund specializing in commodities and commodity-related equities. Leibee holds a bachelor's degree from the University of Delaware and a master's of business administration degree from Duke University.

Gold, who is focused on security selection primarily in international markets for the Federated Kaufmann Fund, joined the team in 2004 as a senior investment analyst. Before joining Federated in 2004, he was a managing director of Amphion Capital and its affiliates from 1995 to 2004. At Amphion, Gold was active as a venture capitalist in the financing and management of companies in the United States and overseas. From 1993 to 1995 he was a portfolio analyst at Prudential Realty Group for the $6 billion General Account real estate equity portfolio. Gold earned both his bachelor's degree and his master's of business administration degree in finance from the Leonard N. Stern School of Business at New York University.

Mark Bauknight, who has served as a portfolio manager for the Federated Kaufmann Fund since 2003, also joined the portfolio management team of the Federated Kaufmann Large Cap Fund.

"The addition of John Leibee and the expanded roles for Jon Gold and Mark Bauknight add breadth and depth to the Federated Kaufmann team, whose strength is already evidenced by the funds' long-term performance record," said Stephen F. Auth, chief investment officer for global equity.

Federated Kaufmann offers investors growth opportunities across the small-, mid- and large-cap stock universe in Federated Kaufmann Small Cap Fund, Federated Kaufmann Fund and Federated Kaufmann Large Cap Fund. Since Federated acquired the Kaufmann franchise in 2001, assets have grown from $3.2 billion to nearly $12 billion at March 31, 2008.

Federated Investors, Inc. is one of the largest investment managers in the United States, managing $338.5 billion in assets as of March 31, 2008. With 147 mutual funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.

Certain statements in this press release, such as those related to the long-term success of the Federated Kaufmann franchise, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks are the ability to maintain the long-term investment success of the Federated Kaufmann products, as well as the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.

For more complete information, visit http://FederatedInvestors.com or contact your investment professional for prospectuses. You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects is in the fund's prospectus, which you should read carefully before investing.

Past performance is no guarantee of future results.

Visit http://FederatedInvestors.com for current fund performance.

Mutual funds are subject to risks and fluctuate in value.

Small company stocks may be less liquid and subject to greater price volatility than large-cap stocks.

Diversification does not assure a profit nor protect against loss.

International investing involves special risks including currency risk, increased volatility of foreign securities, political risks, and differences in auditing and other financial standards.

Federated separately managed accounts are made available through Federated Global Investment Management, Federated Investment Counseling and MDT Advisers, each a registered investment advisor.

Federated Securities Corp., Distributor


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