<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Large Company Value Fund Annual Report for the Fiscal year ended 7/31/2000 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000088051
<NAME> VALUE EQUITY TRUST
<SERIES>
<NUMBER> 001
<NAME> SCUDDER LARGE COMPANY VALUE FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 1,608,824
<INVESTMENTS-AT-VALUE> 2,084,475
<RECEIVABLES> 2,764
<ASSETS-OTHER> 162
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,087,401
<PAYABLE-FOR-SECURITIES> 5,181
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,249
<TOTAL-LIABILITIES> 9,430
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,438,397
<SHARES-COMMON-STOCK> 77,493
<SHARES-COMMON-PRIOR> 84,604
<ACCUMULATED-NII-CURRENT> 13,318
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 150,606
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 475,651
<NET-ASSETS> 2,077,972
<DIVIDEND-INCOME> 45,386
<INTEREST-INCOME> 2,926
<OTHER-INCOME> 0
<EXPENSES-NET> 21,244
<NET-INVESTMENT-INCOME> 27,067
<REALIZED-GAINS-CURRENT> 200,085
<APPREC-INCREASE-CURRENT> (357,371)
<NET-CHANGE-FROM-OPS> (130,220)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (31,937)
<DISTRIBUTIONS-OF-GAINS> (118,822)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,654
<NUMBER-OF-SHARES-REDEEMED> (31,493)
<SHARES-REINVESTED> 5,304
<NET-CHANGE-IN-ASSETS> (477,191)
<ACCUMULATED-NII-PRIOR> 19761
<ACCUMULATED-GAINS-PRIOR> 73790
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13,996
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21,345
<AVERAGE-NET-ASSETS> 2,254,127
<PER-SHARE-NAV-BEGIN> 30.05
<PER-SHARE-NII> .33
<PER-SHARE-GAIN-APPREC> (1.73)
<PER-SHARE-DIVIDEND> (.39)
<PER-SHARE-DISTRIBUTIONS> (1.45)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.81
<EXPENSE-RATIO> .94
</TABLE>
