August 30, 2002 Division of Investment Management Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. Attn: Richard Pfordte, Esq. Re:	IDEX Mutual Funds - PEA #48 	File No. - 33-2659 	CIK #0000787623 	Accession Number: 0000950144-02-003905 Ladies and Gentlemen: 	IDEX Mutual Funds hereby requests the withdrawal of the above-referenced Post-Effective Amendment No. 48 to its Registration Statement pursuant to Rule 477 under the Securities Act of 1933, as amended. This amendment was originally filed with the Securities and Exchange Commission ("SEC") on April 15, 2002, and it relates to the addition of I Shares to IDEX Mutual Funds ("IDEX"). IDEX no longer has a need to offer this class of shares and now desires to withdraw this Amendment to its Registration Statement. 	No securities were issued or sold pursuant to the Amendment to the Registration Statement. The Amendment to the Registration Statement has not been declared effective by the SEC. 	If you have any questions regarding this request for withdrawal, please do not hesitate to contact me at 727/299-1824. 							Very truly yours, 							IDEX Mutual Funds 							/s/ John K. Carter 					By:		John K. Carter, Esq. 					Title:	Vice President, Secretary & 							General Counsel Cc: 	Cindy Rose 	Securities and Exchange Commission