<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Select 1000 Growth Fund Annual Report for 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> 020
<NAME> SCUDDER SELECT 1000 GROWTH 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> 26,680,440
<INVESTMENTS-AT-VALUE> 36,015,587
<RECEIVABLES> 34,121
<ASSETS-OTHER> 447
<OTHER-ITEMS-ASSETS> 28,883
<TOTAL-ASSETS> 36,079,038
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 128,967
<TOTAL-LIABILITIES> 128,967
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27,316,215
<SHARES-COMMON-STOCK> 2,171,424
<SHARES-COMMON-PRIOR> 1,913,407
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (23,889)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (677,438)
<ACCUM-APPREC-OR-DEPREC> 9,335,147
<NET-ASSETS> 35,950,071
<DIVIDEND-INCOME> 89,382
<INTEREST-INCOME> 11,167
<OTHER-INCOME> 0
<EXPENSES-NET> 124,438
<NET-INVESTMENT-INCOME> (23,889)
<REALIZED-GAINS-CURRENT> (487,196)
<APPREC-INCREASE-CURRENT> 3,503,881
<NET-CHANGE-FROM-OPS> 2,992,796
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,570,644
<NUMBER-OF-SHARES-REDEEMED> (4,540,425)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7,023,015
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (190,242)
<GROSS-ADVISORY-FEES> 112,031
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 265,863
<AVERAGE-NET-ASSETS> 31,744,886
<PER-SHARE-NAV-BEGIN> 15.12
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.45
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.56
<EXPENSE-RATIO> 0.78
</TABLE>
