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Wednesday, May 28, 2003

Federated Launches 529

by: Sean Hanna, Editor in Chief

Federated Investors has opened the doors on its USA CollegeConnect 529 plan for the state of Oregon. The plan is administered with the assistance of State Street's Schoolhouse Capital unit.

The plan be sold through intermediaries and is available to all U.S. residents and allows a maximum balance of $250,000 per beneficiary. The minimum account size is $500. Federated is targeting broker-dealers and banks for distribution of the plan.

The investments in the plan include both 11 mutual funds and five age-based investment portfolios. All of the 11 funds are part of Federated's proprietary mutual fund family. They include: Federated Kaufmann Fund, Federated Capital Appreciation Fund, Federated Market Opportunity Fund and Federated Total Return Bond Fund.

Schoolhouse Capital will provide program management, investment management oversight and program administration for USA CollegeConnect, said James F. Getz, president, retail sales division, Federated Securities Corporation.  

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