SECURITY EQUITY FUND
497J, 1997-10-20
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[SBG LOGO]
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Security Benefit Life Insurance Company                700 SW Harrison St.
Security Benefit Group, Inc.                           Topeka, Kansas 66636-0001
Security Distributors, Inc.                            (785) 431-3000
Security Management Company, LLC

October 20, 1997


Securities and Exchange Commission
450 Fifth Street, NW
Judiciary Plaza
Washington, DC 20549


Re:  SECURITY EQUITY FUND
     File Nos.:  2-19458 and 811-1136


Dear Sir or Madam:

In accordance  with the  provisions of Rule 497(j) under the  Securities  Act of
1933,  please accept this letter as certification  that the Security Equity Fund
Prospectus  and  Statement  of  Additional  Information  do not differ from that
contained in Post-Effective Amendment No. 80 to the Registration Statement. This
Post-Effective Amendment was filed electronically on October 15, 1997.

If  you  have  any  questions  concerning  this  filing,  please  contact  me at
(785) 431-3226.

Very truly yours,

AMY J. LEE

Amy J. Lee
Secretary
Security Equity Fund



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