FEDERATED EQUITY FUNDS
Federated Investors
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(412) 288-1900
June 12, 1996
EDGAR Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC 20549
RE: Federated Small Cap Strategies Fund and
Federated Capital Appreciation Fund
[portfolios of FEDERATED EQUITY FUNDS the "Trust"]
1933 Act File No. 2-91090
1940 Act File No. 811-4017
Dear Sir or Madam:
Pursuant to Rule 497(j) under the Securities Act of 1933, the above-named
Trust hereby certifies that the definitive supplements dated
April 30, 1996, and forms of prospectuses and statements of additional
information dated November 1, 1995 (Federated Small Cap Strategies Fund) and
December 21, 1995 (Federated Capital Appreciation Fund), that would have been
filed under Rule 497(c), do not differ from the supplements dated April 30,
1996, and forms of prospectuses and statements of additional information dated
November 1, 1995 (Federated Small Cap Strategies Fund) and December 21, 1995
(Federated Capital Appreciation Fund) contained in the most recent registration
statement for the Trust. This registration statement was electronically filed
under Rule 485(b) as Post-effective amendment No. 31 on June 11, 1996.
If you have any questions regarding this certification, please
call me at (412) 288-8220.
Very truly yours,
/s/ S. Elliott Cohan
S. Elliott Cohan
