UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549

                     STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities  Exchange Act of 1934, Section
17(a) of the Public Utility

Holding  Company Act of 1935 or Section 30(f) of the  Investment  Company Act of
1940

FORM 4

/      /  Check this box if no longer subject to Section 16, Form 4 or Form 5
obligations may continue.  See Instruction 1(b)

(Print or Type Responses)
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1.  Name and Address of Reporting Person*

Donahue                       John                    C.
(Last)                        (First)                 (Middle)

c/o Federated Investors, Inc.
Federated Investors Tower
(Street)

Pittsburgh                    PA                      15222-3779
(City)                        (State)                 (Zip)
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2.  Issuer Name and Ticker or Trading Symbol
      Federated Investors, Inc.     FII

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3.  I.R.S. Identification Number of Reporting Person, if an entity (voluntary)


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4.  Statement for Month/Year


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5.  If Amendment, Date of Original (Month/Year)
March 8, 2002

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6.  Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X___ Director               ________ 10% Owner
__X___            Officer (give title below)    ________ Other (specify below)
      President and Chief Executive Officer

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7.  Individual or Joint/Group Filing (Check Applicable Limit)
_X____   Form filed by One Reporting Person
_______  Form filed by More than One Reporting Person

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                Table I -- Non-Derivative Securities Beneficially Owned



                                                                                   


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1. Title of     2.         3.            4.  Securities Acquired   5.  Amount of    6.  Ownership  7.  Nature
   Security     Transaction   Transaction   (A) or Disposed of     Securities       Form:  Direct  of Indirect
   (Instr. 3)   Date          Code          (D) (Instr. 3, 4, and  Beneficially     (D) or         Beneficial
                (Mon/day/year)(Instr. 8)    5)                     Owned at End of  Indirect (I)   Ownership
                                                                   Month (Instr. 3  (Instr. 4)     (Instr. 4)
                                                                   and 4)
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                           Code   V      Amount   (A) or   Price
                                                     (D)
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Class B Common
Stock
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Class B Common                                                     4,841,165(1)     D
Stock
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Class B Common                                                     33,977           I              By Spouse
Stock
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Class B Common                                                     1,655,200        I              By Thomas
Stock                                                                                              Donahue as
                                                                                                   custodian
                                                                                                   for minor
                                                                                                   children
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Class B Common                                                     1,266,947        I              By power of
Stock                                                                                              attorney
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Class B Common                                                     878,712          I              By Daniel
Stock                                                                                              McGrogan as
                                                                                                   custodian
                                                                                                   for minor
                                                                                                   children
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Class B Common                                                     10,800 (2) (3)   I              Tiger
   Stock                                                                                           Investment
                                                                                                   Management,
                                                                                                   LLC
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Reminder:  Report on a separate line for each class of securities beneficially owned
directly or indirectly.
*  If the form is filed by more than one reporting person,  see Instruction 4(b)(v).


FORM 4 (continued)
                              Table II - Derivative Securities Acquired, Disposed of, or
Beneficially Owned
                                    (e.g., puts, calls, warrants, options, covertible
securities)



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1.  Title of         2.  Conversion  3.              4.  Transaction     5.  Number of    6.  Date
Derivative Security  or Exercise     Transaction        Code (Instr. 8)  Derivative       Exercisable and
(Instr. 3)           Price of        Date                                Securities       Expiration Date
                     Derivative      (Month/Day/Year)                    Acquired (A) or  (Month/Day/Year)
                     Security                                            Disposed of (D)
                                                                         (Instr. 3, 4,
                                                                         and 5)
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                                                     Code     V          (A)       (D)    Date
                                                                                          ExercisableExpiration
                                                                                                     Date
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7.  Title and Amount of   8.  Price of    9.  Number of            10.  Ownership Form of           11.
Underlying Securities     Derivative      derivative Securities    Derivative Security:  Direct     Nature
(Instr. 3 and 4)          Security        Beneficially Owned at    (D) or indirect (I)              of
                          (Instr. 5)      End of Month (Instr. 4)  (Instr. 4)                       Indirect
                                                                                                    Beneficial
                                                                                                    Ownership
                                                                                                    (Instr.
                                                                                                    4)
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Title        Amount or
             Number of
             Shares
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Explanation of Responses:

(1)  Includes 136,524 shares of Federated  Investors,  Inc. Class B Common Stock
     held in Federated's Profit Sharing/401(k) plan.

(2)  Previously  incorrectly  reported  as a gift of  shares.  Reporting  person
     previously  transferred  540,000  shares from his direct  holdings to Tiger
     Investment Management LLC (of which reporting person is a member) which did
     not  constitute a reportable  change in beneficial  ownership.  On 2/21/02,
     ownership  interests in the LLC were gifted to others resulting in a change
     in  beneficial  ownership  of 529,200  shares  equaling  the other  owners'
     proportional  interests in the Federated  Investors,  Inc.,  Class B Common
     Stock holdings of Tiger Investment Management, LLC.

(3)  Represents  reporting  person's  remaining  proportionate  interest  in the
     Federated  Investors,   Inc.,  Class  B  Common  Stock  holdings  of  Tiger
     Investment  Management,  LLC. The  reporting  person  disclaims  beneficial
     ownership  of these  securities,  and this  report  shall  not be deemed an
     admission  that  the  reporting  person  is  the  beneficial  owner  of the
     securities for purposes of Section 16 or for any other purpose.

** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:  File three copies of this Form, one of which must be manually signed.  If
space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information  contained
in this form are not  required to respond  unless the form  displays a currently
valid OMB number.

/s/ J. Christopher Donahue          April 10, 2002
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**Signature of Reporting Person                            Date