Fidelity (logo) Investments®||||||||||||||||||||||||||||||||||||||||||||||||||||||||||	FMR Corp. 82 Devonshire Street Boston MA 02109-3614 617-563-7000
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||	April 2, 2001

Securities and Exchange Commission

Judiciary Plaza

450 Fifth Street, N.W.

Washington, D.C. 20549

Attn: Christian Sandoe

RE:	Fidelity Phillips Street Trust (the trust):
	Fidelity Cash Reserves
	File No. 811-2890 and 2-63350

Ladies and Gentlemen:

We request the withdrawal of the preliminary filing of the Trust's Registration Statement on Form
N-14 (Form N-14) under the Securities Act of 1933 filed on March 28, 2001 (Accession No. 0000278001-01-500007) which omitted Exhibits 11 and 12 to its Part C. A Form N-14 with these exhibits will be refiled shortly.

Please direct any communications relating to this filing to Caren Cunningham, Senior Legal Counsel, Fidelity Investments at 617-392-1782.

|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||	Sincerely yours,
	/s/ Eric D. Roiter
	Eric D. Roiter
	Fund Secretary