N-CSR Item 10 - Exhibits: Certifications EX-99.906CERT

                          SECTION 906 CERTIFICATION

     Pursuant to 18 U.S.C.ss. 1350, the undersigned officers of Federated Equity
Funds on behalf of Federated Capital Appreciation Fund, Federated Communications
Technology Fund,  Federated Growth  Strategies  Fund,  Federated  Kaufmann Fund,
Federated  Kaufmann Small Cap Fund,  Federated Large Cap Growth Fund,  Federated
Market Opportunity  Fund(the  "Registrant"),  hereby certify, to the best of our
knowledge,  that the  Registrant's  Report on Form  N-CSR for the  period  ended
4/30/03 (the "Report") fully complies with the  requirements of Section 13(a) or
15(d),  as  applicable,  of the Securities and Exchange Act of 1934 and that the
information  contained in the Report fairly presents,  in all material respects,
the financial condition and results of operations of the Registrant.


Dated: June 25, 2003

/s/ J. Christopher Donahue

Title: President, Principal Executive Officer



Dated: June 24, 2003

/s/ Richard J. Thomas

Title: Treasurer, Principal Financial Officer

This certification is being furnished solely pursuant to 18 U.S.C.ss. 1350 and
is not being filed as part of the Report or as a separate disclosure document.