Exhibit 77(Q1)(a)


Federated Core Trust
Amendment #4 to the By-Laws

                 (effective August 23, 2002)
Strike Section 1 - Article I - OFFICERS AND THEIR ELECTION, and
replace it with the following:
        Section 1.  Officers. The Officers of the Trust shall
be a President, one or more Vice Presidents, a Treasurer, and
a Secretary.  The Board of Trustees, in its discretion, may
also elect or appoint a Chairman of the Board of Trustees
(who must be a Trustee), one or more Vice Chairman of the
Board of Trustees (who need not be a Trustee), and other
Officers or agents, including one or more Assistant Vice
Presidents, one or more Assistant Secretaries, and one or
more Assistant Treasurers.  A Vice President, the Secretary
or the Treasurer may appoint an Assistant Vice President, an
Assistant Secretary or an Assistant Treasurer, respectively,
to serve until the next election of Officers.  Two or more
offices may be held by a single person except the offices of
President and Vice President may not be held by the same
person concurrently.  It shall not be necessary for any Trustee
or any Officer to be a holder of shares in any Series or
Class of the Trust.
Strike Sections 2 through 9 of Article II, and replace with
the following:
        Section 2.  Chairman of the Trustees ("Chairman").
The Chairman, if there be a Chairman, shall preside at the
meetings of Investors and the Board of Trustees and shall
perform such duties as may be assigned to him from time to
time by the Trustees.
        Section 3.  Vice Chairman of the Trustees ("Vice
Chairman").  The Vice Chairman, in the absence of the Chairman,
shall perform such duties as may be assigned to him from time
to time by the Trustees or the Chairman.
        Section 4.  President.  The President shall be the
principal executive officer of the Trust.  The President, in
the absence of the Chairman, or if there is no Chairman, shall
perform all duties and may exercise any of the powers of the
Chairman subject to the control of the Trustees.  He shall
counsel and advise the Chairman.  He shall have general
supervision over the business of the Trust and policies of the
Trust.  He shall employ and define the duties of all employees
of the Trust, shall have the power to discharge any such
employees, shall exercise general supervision over the affairs
of the Trust and shall perform such other duties as may be
assigned to him from time to time by the Trustees, the Chairman
or the Executive Committee.  The President shall have the power
to appoint one or more Assistant Secretaries or other junior
officers, subject to ratification of such appointments by the
Board.  The President shall have the power to sign, in the name
of and on behalf of the Trust, powers of attorney, proxies,
waivers of notice of meeting, consents and other instruments
relating to securities or other property owned by the Trust,
and may, in the name of and on behalf of the Trust, take all
such action as the President may deem advisable in entering
into agreements to purchase securities or other property in
the ordinary course of business, and to sign representation
letters in the course of buying securities or other property.
        Section 5.  Vice President.  The Vice President (or if
more than one, the senior Vice President) in the absence of
the President shall perform all duties and may exercise any of
the powers of the President subject to the control of the
Trustees.  Each Vice President shall perform such other duties
as may be assigned to him from time to time by the Trustees,
the Chairman, the President, or the Executive Committee. Each
Vice President shall be authorized to sign documents on behalf
of the Trust.  The Vice President shall have the power to sign,
in the name of and on behalf of the Trust and subject to
Article VIII, Section 1, powers of attorney, proxies, waivers
of notice of meeting, consents and other instruments relating
to securities or other property owned by the Trust, and may,
in the name of and on behalf of the Trust, take all such
action as the Vice President may deem advisable in entering
into agreements to purchase securities or other property in
the ordinary course of business, and to sign representation
letters in the course of buying securities or other property.
        Section 6.  Secretary.  The Secretary shall keep or
cause to be kept in books provided for that purpose the
Minutes of the Meetings of Shareholders and of the Trustees;
shall see that all Notices are duly given in accordance with
the provisions of these By-Laws and as required by law; shall
be custodian of the records and of the Seal of the Trust
(if there be a Seal) and see that the Seal is affixed to all
documents, the execution of which on behalf of the Trust under
its Seal is duly authorized; shall keep directly or through
a transfer agent a register of the post office address of
each shareholder of each Series or Class of the Trust, and
make all proper changes in such register, retaining and filing
his authority for such entries; shall see that the books,
reports, statements, certificates and all other documents
and records required by law are properly kept and filed; and in
general shall perform all duties incident to the Office of
Secretary and such other duties as may from time to time be
assigned to him by the Trustees, Chairman, the President, or
the Executive Committee.
        Section 7.  Treasurer.  The Treasurer shall be the
principal financial and accounting officer of the Trust
responsible for the preparation and maintenance of the financial
books and records of the Trust.  He shall deliver all funds
and securities belonging to any Series or Class to such
custodian or sub-custodian as may be employed by the Trust
for any Series or Class.  The Treasurer shall perform such
duties additional to the foregoing as the Trustees, Chairman,
the President or the Executive Committee may from time to time
designate.
        Section 8.  Assistant Vice President.  The Assistant
Vice President or Vice Presidents of the Trust shall have
such authority and perform such duties as may be assigned to
them by the Trustees, the Executive Committee, the President,
or the Chairman.
        Section 9.  Assistant Secretaries and Assistant
Treasurers.  The Assistant Secretary or Secretaries and the
Assistant Treasurer or Treasurers shall perform the duties of
the Secretary and of the Treasurer, respectively, in the
absence of those Officers and shall have such further powers
and perform such other duties as may be assigned to them
respectively by the Trustees or the Executive Committee, the
President, or the Chairman.
        Section 10.  Salaries.  The salaries of the Officers
shall be fixed from time to time by the Trustees.  No officer
shall be prevented from receiving such salary by reason of the
fact that he is also a Trustee.