FIDELITY PHILLIPS STREET TRUST
497J, 1996-01-23
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FIDELITY (LOGO) INVESTMENTS(registered trademark)   FMR Corp.               
                                                    82 Devonshire Street    
                                                    Boston MA  02109-3614   
                                                    617 563 7000            
 
                        January 23, 1996   
                                           
                                           
                                           
                                           
 
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC  20549
Attention:   File Room                                       
 
                                                             
 
RE:          Fidelity Phillips Street Trust (the trust):     
 
             Fidelity Cash Reserves                          
 
             Fidelity U.S. Government Reserves (the funds)   
 
             File No. 2-63350 and 811-2890                   
 
             File No. 33-43758 and 811-6453                  
 
__________________________________________________________________________
Ladies and Gentlemen:
 Transmitted herewith pursuant to Rule 497(j) under the Securities Act of
1933 is certification that the Prospectuses and Statements of Additional
Information with respect to the above referenced funds do not differ from
those filed in the most recent post-effective amendment, which was filed
electronically.
                        Very truly yours,     
 
                                              
 
                                              
 
                                              
 
                        /s/Arthur S. Loring   
                           Arthur S. Loring   
                           Secretary          
 
                                              
 



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