EX-99.906 CERT
                                                                      Item 11(b)

     CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
       (SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF TITLE 18,
                              UNITED STATES CODE)

In connection with the attached Report of Security Equity Fund (the "Fund") on
Form N-CSR to be filed with the Securities and Exchange Commission (the
"Report"), each of the undersigned officers of the Fund does hereby certify
that, to the best of such officer's knowledge:

1.    The Report fully complies with the requirements of 13(a) or 15(d) of the
      Securities Exchange Act of 1934 (the "1934 Act"); and

2.    The information contained in the Report fairly presents, in all material
      respects, the financial condition and results of operations of the Fund as
      of, and for, the periods presented in the Report.

                                                By: MICHAEL G. ODLUM
                                                    ----------------------------
                                                    Michael G. Odlum, President

                                                Date: May 27, 2005

                                                By: BRENDA M. HARWOOD
                                                    ----------------------------
                                                    Brenda M. Harwood, Treasurer

                                                Date: May 27, 2005

A signed original of this written statement required by Section 906 has been
provided to the Fund and will be retained by the Fund and furnished to the
Securities and Exchange Commission (the "Commission") or its staff upon request.