Scudder Kemper Investments, Inc.
Two International Place
Boston, MA 02110
July 5, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
RE: Scudder Select 500 Fund and Scudder Select 1000 Growth Fund
(the "Funds"), each a series of Value Equity Trust (Reg. No.
2-78724) (811-1444) (the "Trust") Post Effective Amendment No.
39 to the Registration Statement on Form N-1A
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended,
the Trust hereby certifies that the form of Prospectus and Statement of
Additional Information that would have been filed on behalf of the Trust
pursuant to Rule 497(c) upon the effectiveness of Post-Effective Amendment No.
39 to the Trust's Registration Statement on Form N-1A (the "Amendment") does not
differ from that contained in the Amendment, which is the most recent amendment
to such Registration Statement and was filed electronically on June 30, 2000.
Comments or questions concerning this certificate may be directed to
Robyn H. Reed at (617) 295-2558.
Very truly yours,
By: /s/ Caroline Pearson
----------------------------
Assistant Secretary
Value Equity Trust
