FIDELITY PHILLIPS STREET TRUST
497J, 1999-01-27
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FIDELITY (LOGO) INVESTMENTS(registered trademark)  FMR Corp.              
                                                   82 Devonshire Street   
                                                   Boston MA  02109-3614  
                                                   617 563 7000           
 
                    January 23, 1999  
                                      
                                      
                                      
                                      
 
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C.  20549
Attention:  File Room                                      
 
                                                           
 
Re:         Fidelity Phillips Street Trust (the trust):    
 
            Fidelity Cash Reserves                         
            Fidelity U.S. Government Reserves (the funds)  
 
            File Nos.(2-63350) and (811-2890)              
 
______________________________________________________________________
Ladies and Gentlemen:
 Transmitted herewith pursuant to Rule 497(j) under the Securities Act
of 1933 is certification that the Prospectus and Statement of
Additional Information with respect to the above referenced fundS does
not differ from that filed in the most recent post-effective
amendment, which was filed electronically.
                    Very truly yours,  
 
                                       
 
                                       
 
                                       
 
                    /s/Eric D. Roiter  
                       Eric D. Roiter  
                       Secretary       
 
                                       
 
                                       
 



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