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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

May 2, 2000


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


Subj:  Security Equity Fund - Rule 497(j) Filing
       Post-Effective Amendment No. 89
       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  Prospectus  and
Statement of Additional  Information  for the Security Equity Fund do not differ
from that contained in Post-Effective Amendment No. 89 to Security Equity Fund's
registration statement.  This Post-Effective  Amendment was filed electronically
on May 1, 2000.

If  you  have  any  questions  concerning  this  filing,  please  contact  me at
(785) 431-3321.

Sincerely,

CHRIS SWICKARD

Chris Swickard
Assistant Secretary
Security Equity Fund