December 4, 1997
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
Principal Special Markets Fund, Inc. 33-59474
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended, the Fund
hereby certifies that the form of prospectus that would have been filed on
behalf of the Funds pursuant to Rule 497(c) upon the effectiveness of the
Post-Effective Amendments referenced above to the Funds' Registration Statement
on Form N-1A (the "Amendment") would not have differed from that contained in
the Amendments, which are the most recent amendments on such Registration
Statement and was filed electronically on November 21, 1997.
Comments or questions concerning this certificate may be directed to Kim
McCartney at 1-800-247-4123, ext. 89155.
Very truly yours
KIM MCCARTNEY
Kim McCartney
Senior Consultant - Product Development
KLM/
