<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Select 500 Fund Annual Report for the the period ended 8/31/2000 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000088051
<NAME> VALUE EQUITY TRUST
<SERIES>
<NUMBER> 010
<NAME> SCUDDER SELECT 500 FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> FEB-28-2001
<PERIOD-START> FEB-29-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 31,011,578
<INVESTMENTS-AT-VALUE> 39,573,453
<RECEIVABLES> 86,625
<ASSETS-OTHER> 916
<OTHER-ITEMS-ASSETS> 16,171
<TOTAL-ASSETS> 39,677,165
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 238,741
<TOTAL-LIABILITIES> 238,741
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,470,624
<SHARES-COMMON-STOCK> 2,774,487
<SHARES-COMMON-PRIOR> 2,611,328
<ACCUMULATED-NII-CURRENT> 33,956
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,628,031)
<ACCUM-APPREC-OR-DEPREC> 8,561,875
<NET-ASSETS> 39,438,424
<DIVIDEND-INCOME> 185,770
<INTEREST-INCOME> 6,473
<OTHER-INCOME> 0
<EXPENSES-NET> 133,856
<NET-INVESTMENT-INCOME> 58,387
<REALIZED-GAINS-CURRENT> (493,886)
<APPREC-INCREASE-CURRENT> 4,526,996
<NET-CHANGE-FROM-OPS> 4,091,497
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (24,431)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,863,991
<NUMBER-OF-SHARES-REDEEMED> (5,485,251)
<SHARES-REINVESTED> 24,439
<NET-CHANGE-IN-ASSETS> 6,470,245
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,134,145)
<GROSS-ADVISORY-FEES> 119,738
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 274,137
<AVERAGE-NET-ASSETS> 34,303,777
<PER-SHARE-NAV-BEGIN> 12.63
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 1.57
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.21
<EXPENSE-RATIO> 0.77
</TABLE>
