Industry & Services >> Analyst Interviews >> November 2, 1998

Outlook For Utilities : Steven Lehman – Federated Investors

STEVEN LEHMAN is a Vice President and Portfolio Manager of Federated Utility Fund at Federated Investors. Previously, he was associated with First Chicago as a portfolio manager for 12 years. A Chartered Financial Analyst, he received his Bachelor's degree at Ripon College in Wisconsin and his Master's degree in Public Policy Studies at the University of Chicago. Mr. Lehman is a member of the AIMR. He also spent two years on Capital Hill as a legislative aide to an Iowa Congressman. In his free time, Mr. Lehman enjoys gardening and family life with his wife and two daughters. Profile
TWST: Tell us, first of all, about the Federated Investors Utility Fund

and what your mandate is.

Mr. Lehman: This is a conservative utility fund whose mandate is to

produce income with