FEDERATED EQUITY FUNDS
Federated Investors Funds
5800 Corporate Drive
Pittsburgh, Pennsylvania 15237-7000
December 31, 1997
EDGAR Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC 20549
RE: 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 forms of Prospectuses and Statements
of Additional Information, dated December 31, 1997, that would have been filed
under Rule 497(c), do not differ from the forms of Prospectuses and Statements
of Additional Information contained in the most recent Registration Statement
for the Trust. This filing only pertains to four of the Trust's portfolios,
Federated Growth Strategies Fund, Federated Small Cap Strategies Fund, Federated
Capital Appreciation Fund, and Federated Aggressive Growth Fund. This
Registration Statement was electronically filed under Rule 485(b) as
Post-Effective Amendment No. 38 under the Securities Act of 1933 and Amendment
No. 31 under the Investment Company Act of 1940 on December 30, 1997.
If you have any questions regarding this certification, please call
Heather M. Aland, Compliance Analyst, at (412) 288-1097.
Very truly yours,
/s/ Matthew S. Hardin
Matthew S. Hardin
Assistant Secretary
