File Nos. 33-72212 and 811-8168

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            SCHEDULE 14A INFORMATION

             Proxy Statement Pursuant to Section 14(a) of the

                         Securities Exchange Act of 1934
                                (Amendment No. )

Filed by the Registrant [X]

Filed by a Party other than the Registrant [ ]

Check the appropriate box:

[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only
     (as permitted by Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[X] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec.240.14a-12

                          AQUILA ROCKY MOUNTAIN EQUITY FUND
           (Exact Name of Registrant as Specified in Charter)

                         380 Madison Avenue, Suite 2300
                            New York, New York 10017
                    (Address of Principal Executive Offices)

                                 (212) 697-6666
                         (Registrant's Telephone Number)

               Payment of Filing Fee (Check the appropriate box):

[X] No fee required




                            Aquila Group of Funds
                        Aquila Rocky Mountain Equity Fund


                                 Important Proxy
                                      News

                  PLEASE SUBMIT YOUR VOTING INSTRUCTIONS TODAY!

Dear Shareholder:

Recently,  we distributed proxy materials  regarding the Special
Meeting of  Shareholders  of Aquila Rocky  Mountain  Equity Fund
(the "Fund").  This meeting,  which was originally scheduled for
July 15, 2008, has been adjourned  until August 25, 2008 at 4:00
p.m.  Eastern  Time at the  offices  of the  Fund,  380  Madison
Avenue,  Suite  2300,  New York,  New York 10017.  To date,  our
records   indicate   that  we  have  not  received  your  voting
instructions.   We  are  still  accepting  votes  to  increase
shareholder participation.

Your vote is  important  no matter how many  shares you own.  We
urge you to act  promptly  in  order  to  allow  us to  obtain a
sufficient  number of votes  and  avoid  the cost of  additional
solicitation.

If you should have any  questions  regarding the  proposals,  or
require duplicate proxy materials,  please contact Computershare
Fund Services at 1-877-225-6920.  Representatives  are available
Monday  through  Friday between the hours of 9:00 a.m. and 11:00
p.m. and Saturday from 12:00 p.m. to 6:00 p.m. Eastern time.


For your  convenience,  please  utilize  any of the  following
methods to submit your voting instructions:

1. By Internet.

Follow the simple instructions on the enclosed voting
instruction form.


2. By Touch-Tone Phone.

Dial the  toll-free  number found on the  enclosed  proxy card
and follow the simple instructions.

3. By Mail.

Simply  execute  and  return  the  enclosed  proxy card in the
envelope provided.  However,  please try to utilize one of the
two options  above to register  your voting  instructions,  so
they may be received in time for the meeting.

If  you  have  already   submitted   voting   instructions  by
utilizing one of these  methods,  then you do not need to take
any action.


   WE NEED YOUR HELP. PLEASE SUBMIT YOUR VOTING INSTRUCTIONS TODAY!