<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000278001
<NAME> Fidelity Phillips Street Trust
<SERIES>
<NUMBER> 11
<NAME> Fidelity Cash Reserves
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
nov-30-2000
<PERIOD-END>
may-31-2000
<INVESTMENTS-AT-COST>
42,109,785
<INVESTMENTS-AT-VALUE>
42,109,785
<RECEIVABLES>
629,890
<ASSETS-OTHER>
1,022
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
42,740,697
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
434,603
<TOTAL-LIABILITIES>
434,603
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
42,307,797
<SHARES-COMMON-STOCK>
42,306,568
<SHARES-COMMON-PRIOR>
37,981,427
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(1,703)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
42,306,094
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
1,223,151
<OTHER-INCOME>
0
<EXPENSES-NET>
87,820
<NET-INVESTMENT-INCOME>
1,135,331
<REALIZED-GAINS-CURRENT>
196
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
1,135,527
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
1,135,331
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
73,135,393
<NUMBER-OF-SHARES-REDEEMED>
69,918,647
<SHARES-REINVESTED>
1,108,395
<NET-CHANGE-IN-ASSETS>
4,325,337
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(1,899)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
44,624
<INTEREST-EXPENSE>
18
<GROSS-EXPENSE>
88,425
<AVERAGE-NET-ASSETS>
39,951,138
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.028
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.028
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
44
</TABLE>