FEDERATED EQUITY FUNDS
Federated Investors Funds
5800 Corporate Drive
Pittsburgh, Pennsylvania 15237-7000
December 31, 1998
EDGAR Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC 20549
RE: FEDERATED EQUITY FUNDS (the "Trust")
Federated Growth Strategies Fund
Federated Small Cap Strategies Fund
Federated Capital Appreciation Fund
Federated Aggressive Growth Fund
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, 1998, 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 registration statement was electronically filed under Rule
485(b) as Post-Effective Amendment No. 42 on December 30, 1998.
If you have any questions regarding this certification, please
call me at (412) 288-8515.
Very truly yours,
/s/ Matthew S. Hardin
Matthew S. Hardin
Assistant Secretary
