INVESTMENT SHARES (TICKER MOIXX)
WEALTH SHARES (TICKER MOFXX)
SERVICE SHARES (TICKER MOSXX)
CASH II SHARES (TICKER MODXX)
CASH SERIES (TICKER MFSXX)
CAPITAL SHARES (TICKER MFCXX)
TRUST SHARES (TICKER MOTXX)

On July 31, 2017, the Board of Trustees (the "Board") of Money Market Obligations Trust approved the re-designation of Federated Municipal Obligations Fund's (the "Fund") Trust Shares to Automated Shares effective on September 28, 2017. In approving the re-designation, the Board determined that the re-designation of the Trust Shares to Automated Shares is in the best interests of the shareholders of the Trust Shares.

On September 27, 2017, Trust Shares will be closed to new accounts. New purchases by existing Trust Share shareholders will continue to be permitted through the close of business on September 27, 2017.

When business opens on September 28, 2017, Trust Shares will be re-designated as Automated Shares and will be available to new accounts as well as new purchases by existing shareholders. Following the re-designation, each shareholder who previously held Trust Shares will receive a prospectus for the Fund's Automated Shares, which will not include a Rule 12b-1 fee and will have a lower total net expense ratio than the Trust Shares.

The re-designation will occur on a tax-free basis. There is no action required by shareholders to effect this re-designation and there will be no disruption to accounts as a result of the re-designation. Please delete all references to Trust Shares effective as of September 28, 2017.

In addition, effective as of September 28, 2017, the Fund's Adviser and certain of its affiliates have agreed to waive certain amounts of their respective fees and/or reimburse expenses so that total annual fund operating expenses paid by the Fund's Automated Shares will not exceed 0.56% (the "Fee Limit"). Prior to September 28, 2017, and prior to the re-designation, the Fee Limit for the Trust Shares was 0.61%.

Therefore, effective as of September 28, 2017, please make the following changes:

1. Under "Fund Summary Information – Trust Shares," please delete the section "RISK/RETURN SUMMARY: FEES AND EXPENSES" in its entirety and replace it with the following:

This table describes the fees and expenses that you may pay if you buy and hold Automated Shares (AS) of the Fund.

1The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses paid by the Fund, if any) paid by the Fund's AS class (after the voluntary waivers and/or reimbursements) will not exceed 0.56% (the "Fee Limit") up to but not including the later of (the "Termination Date"): (a) October 1, 2018; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the agreement of the Fund's Board.

EXAMPLE

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:

2. Under "Fund Summary Information–Trust Shares," please revise the "Risk/Return Bar Chart" as follows:

3. Under "Fund Summary Information–Trust Shares," please revise the "Average Annual Total Return Table" as follows:

In addition, insert the following disclosure as the final sentence of the first paragraph in the introduction:

"Prior to September 28, 2017, Automated Shares were known as Trust Shares and included 12b-1 fees and certain other expenses. As of September 28, 2017, the Automated Share class does not include such 12b-1 fees and certain other expenses, and the performance shown below for the Automated Share class prior to September 28, 2017, reflects the higher Trust Share class expenses."