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Securities and Exchange Commission
450 Fifth Street. N. W.
Washington, D. C. 20549
RE: SM&R INVESTMENTS, INC.
File Numbers: 33-44021
811-6477
Dear Sir or Madam:
Pursuant to paragraph (j ) of Rule 497 (the "Rule") under the
Securities Act of 1933, the captioned registrant hereby certifies, in lieu of
filing under paragraph (c) of the Rule, that the forms of prospectus and
Statements of Additional Information that would have been filed under paragraph
(c) would not have differed from that contained in the registrant's most recent
amendment to the registration statement, Post-Effective Amendment No. 19.
SM&R INVESTMENTS, INC.
By: /s/ Teresa E. Axelson
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Teresa Axelson, Secretary
December 21, 2000
