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)

1.  Name and Address of Reporting Person*
Donahue John F.
(Last) (First) (Middle)

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

Pittsburgh PA 15222-3779
(City) (State) (Zip)


2.  Issuer Name and Ticker or Trading Symbol
 Federated Investors, Inc. FII


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


4.  Statement for Month/Year
 October 24, 2002

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


6.  Relationship of Reporting Person(s) to Issuer
(Check all applicable)
___X_____ Director ____X____ 10% Owner
___X_____ Officer (give title below) ________ Other (specify below)
 Chairman

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





                  Table I -- Non-Derivative Securities Beneficially Owned

                                                                                 
1. Title of     2.         3.            4.  Securities Acquired   5.  Amount of    6.  Ownership  7.  Nature
Security        TransactionTransaction   (A) or Disposed of (D)    Securities       Form:  Direct  of Indirect
(Instr. 3)      Date       Code (Instr.  (Instr. 3, 4, and 5)      Beneficially     (D) or         Beneficial
                (Mon/day/ye8))                                     Owned at End of  Indirect (I)   Ownership
                                                                   Month (Instr. 3  (Instr. 4)     (Instr. 4)
                                                                   and 4)

                           Code   V      Amount   (A) or   Price
                                                  (D)



Class B Common                                                     533,137(1)       D
Stock



Class B Common  10/24/02   S             20,000   D        $26.75  4,239,438        I              By Comax
Stock                                                                                              Partners
                                                                                                   Limited
                                                                                                   Partnership



Class B Common                                                     87,558           I              By Bay Road
Stock                                                                                              Partners



Class B Common                                                     288,574          I              By Shamrock
Stock                                                                                              Properties,
                                                                                                   Inc.



Class B Common                                                     5,922,258        I              By The
Stock                                                                                              Beechwood
                                                                                                   Company



Class B Common                                                     437,000          I              By Richmond
Stock                                                                                              Farm Realty
                                                                                                   Trust



Class B Common                                                     12,254           I              AWOL, Inc.
Stock



Class B Common                                                     170,810          I              Oyster Bay
Stock                                                                                              Property,
                                                                                                   Inc.

     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, convertible securities)



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)

                                                     Code     V          (A)       (D)    Date     Expiration
                                                                                          ExercisabDate

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) (Instr. 4)   of
                          (Instr. 5)      End of Month (Instr. 4)                                   Indirect
                                                                                                    Beneficial
                                                                                                    Ownership
                                                                                                    (Instr.
                                                                                                    4)
Title        Amount or
             Number of
             Shares



Explanation of Responses:

(1)  Includes 308,661 shares of Federated  Investors,  Inc. Class B Common Stock
     held in Federated's Profit Sharing/401(k) Plan

     ***  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/ John F. Donahue                 October 25, 2002
***Signature of Reporting Person                           Date