SM&R BALANCED FUND INC, 497J, 1999-04-29

SM&R BALANCED FUND INC
497J, 1999-04-29

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Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

RE:  SM&R BALANCED FUND, INC.
          File Numbers:  002-61491
                         811-02818

Dear Sir or Madam:

     Pursuant to paragraph (j) of Rule 497 (the "Rule") under the Securities 
Act of 1933, the captioned registrant hereby certifies, in lieu of filing 
under paragraph (c) of the Rule, that the forms of prospectus and Statement 
of Additional Information that would have been filed under paragraph (c) 
would not have differed from that contained in the registrant's most recent 
amendment to the registration statement, Post-Effective Amendment No. 34.

                                        SM&R BALANCED FUND, INC.

                                        By: /s/ Teresa E. Axelson
                                           ------------------------------------

                                        Teresa Axelson, Secretary


April 29, 1999