EXHIBIT 21.01
 
SIGNIFICANT SUBSIDIARIES OF FEDERATED INVESTORS, INC.:
          
  Federated Investors Building Corporation, a Pennsylvania corporation     
  Federated Securities Corp., a Pennsylvania corporation
            
  Federated Investors Management Company, a Pennsylvania corporation     
  FII Holdings, Inc., a Delaware corporation
  Federated Advisers, a Delaware business trust
  Federated Research Corp., a Maryland corporation
  Federated Management, a Delaware business trust
  Federated Research, a Delaware business trust
  Federated Investment Counseling, a Delaware business trust
  Federated Global Research Corp., a Delaware corporation
  Federated International Management, Ltd., an Ireland company
  Federated Shareholder Services, a Delaware business trust
  FFSI Insurance Agency Inc., a Massachusetts corporation
  Federated Financial Services, Inc., a Pennsylvania corporation
     
  Federated Investors Insurance Inc., a Pennsylvania corporation     
  Passport Research Ltd., a Pennsylvania limited partnership
         
  Federated Services Company, a Pennsylvania corporation
  Federated Funding 1997-1, Inc.
  FS Holdings, Inc., a Delaware corporation
     
  Advanced Information Systems, a Delaware business trust     
  Federated Bank & Trust, a New Jersey bank
  Federated Administrative Services, a Delaware business trust
     
  Federated Shareholder Services Company, a Delaware business trust     
  Retirement Plan Services Company of America, a Delaware business trust,
   doing business as "Federated Retirement Plan Services Company"
  Edgewood Services, Inc., a New York corporation
  Federated Administrative Services, Inc., a Pennsylvania corporation