Exhibit 7.6


                                  Exhibit R

                 FEDERATED MUNICIPAL SECURITIES INCOME TRUST

                   Federated Vermont Municipal Income Fund
                                Class A Shares

     The  following  provisions  are  hereby  incorporated  and made part of the
Distributor's  Contract dated the 9th day of September,  1991, between Federated
Municipal Securities Income Trust and Federated Securities Corp. with respect to
the separate Class of Shares thereof, first set forth in this Exhibit.

     1. The  Trust  hereby  appoints  FSC to engage  in  activities  principally
intended  to  result  in the sale of shares  of the  Classes.  Pursuant  to this
appointment  FSC is authorized to select a group of brokers  ("Brokers') to sell
the above-listed Classes ("Shares"),  the then current offering price thereof as
described  and set forth in the  respective  prospectuses  of the Trust,  and to
render  administrative  support services to the Trust and its  shareholders.  In
addition,   FSC  is   authorized   to   select   a   group   of   Administrators
("Administrators")  to render  administrative  support services to the Trust and
its shareholders.

     2. Administrative support services may include, but are not limited to, the
following eleven functions:  (1) account  openings:  the Broker or Administrator
communicates  account openings via computer  terminals  located on the Broker or
Administrator's  premises;  (2) account  closings:  the Broker or  Administrator
communicates  account  closings  via  computer  terminals;  (3)  enter  purchase
transactions:   purchase   transactions   are  entered  through  the  Broker  or
Administrator's  own  personal  computer  or  through  the  use  of a  toll-free
telephone  number;  (4) enter redemption  transactions:  Broker or Administrator
enters  redemption  transactions  in the same manner as  purchases;  (5) account
maintenance:  Broker or Administrator provides or arranges to provide accounting
support all transactions.  Broker or Administrator also wires and reconciles all
transactions,  reviews  the  activity  in the  Trust's  accounts,  and  provides
training and  supervision  of its  personnel;  (6) interest  posting:  Broker or
Administrator  posts  and  reinvests  dividends  to the  Trust's  accounts;  (7)
prospectus  and  shareholder  reports:  Broker or  Administrator  maintains  and
distributes  current  copies  of  prospectuses  and  shareholder   reports;  (8)
advertisements:   the  Broker  or  Administrator   continuously  advertises  the
availability  of its services and products;  (9) customer  lists:  The Broker or
Administrator  continuously  provides name of potential  customers;  (10) design
services:  the Broker or Administrator  continuously designs material to send to
customers and develops methods of making such materials accessible to customers;
and  (11)  consultation  services:  the  Broker  or  Administrator  continuously
provides information about the product needs of customers.

     3. During the term of this  Agreement,  the Trust will pay FSC for services
pursuant to this Agreement, a monthly fee computed at the annual rate of .25% of
the average  aggregate  net asset  value of the Class A Shares of the  Federated
Vermont Municipal Income Fund held during the month. For the month in which this
Agreement  becomes  effective  or  terminates,  there  shall  be an  appropriate
proration  of any fee  payable  on the  basis  of the  number  of days  that the
Agreement is in effect during the month.

     4. FSC may from time-to-time and for such periods as it deemed  appropriate
reduce  its  compensation  to the extent any Class  expenses  exceed  such lower
expense limitation as FSC may, by notice to the Trust, voluntarily declare to be
effective.

     5. FSC will enter into separate  written  agreements  with various firms to
provide  certain of the services  set forth in  Paragraph 1 herein.  FSC, in its
sole discretion, may pay Brokers and Administrators a periodic fee in respect of
Shares owned from time to time by their clients or  customers.  The schedules of
such fees and the basis upon  which  such fees will be paid shall be  determined
from time to time by FSC in its sole discretion.

     6. FSC will  prepare  reports  to the Board of  Trustees  of the Trust on a
quarterly basis showing amounts  expended  hereunder  including  amounts paid to
Brokers and Administrators and the purpose for such payments.

     In  consideration  of the mutual  covenants set forth in the  Distributor's
Contract dated September 9, 1991 between Federated  Municipal  Securities Income
Trust and Federated  Securities  Corp.,  Federated  Municipal  Securities Income
Trust executes and delivers this Exhibit on behalf of the Fund, and with respect
to the separate Class of Shares thereof, first set forth in this Exhibit.

      Witness the due execution hereof this 1st day of June, 2004.

                                    FEDERATED MUNICIPAL SECURITIES INCOME TRUST

                                    By:  /s/ J. Christopher Donahue
                                    Name:  J. Christopher Donahue
                                    Title:  President


                                    FEDERATED SECURITIES CORP.

                                    By:  /s/ James F. Getz
                                    Name:  James F. Getz
                                    Title:  President - Broker/Dealer