SECTION 906 CERTIFICATION

Pursuant to 18 U.S.C.ss.  1350,  the  undersigned  officers of Federated  Equity
Funds on  behalf  of  Federated  Kaufmann  Fund,  Federated  Kaufmann  Small Cap
Fund(the "Registrant"),  hereby certify, to the best of our knowledge,  that the
Registrant's  Report on Form N-CSR for the period  ended  October  31, 2003 (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: December 29, 2003

/s/ J. Christopher Donahue

Title: President, Principal Executive Officer



Dated: December 26, 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.