<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 319880
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 CENTENNIAL TAX EXEMPT TRUST
001 B000000 811-3104
001 C000000 3037683200
002 A000000 6803 SOUTH TUCSON WAY
002 B000000 ENGLEWOOD
002 C000000 CO
002 D010000 80112
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 CENTENNIAL ASSET MANAGEMENT CORPORATION
008 B000001 A
008 C000001 801-14003
008 D010001 DENVER
008 D020001 CO
008 D030001 80231
011 A000001 CENTENNIAL ASSET MANAGEMENT CORPORATION
011 B000001 8-22948
011 C010001 DENVER
011 C020001 CO
011 C030001 80231
012 A000001 SHAREHOLDER SERVICES, INC.
012 B000001 84-907
012 C010001 ENGLEWOOD
012 C020001 CO
012 C030001 80112
012 C040001 3924
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 DENVER
<PAGE> PAGE 2
013 B020001 CO
013 B030001 80202
014 A000001 A.G. EDWARDS & SONS INC.
014 B000001 8-13580
015 A000001 CITIBANK, N.A.
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10043
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 6
019 C000000 CENTENNIAL
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 BEAR STEARNS & CO., INC.
022 B000001 13-3299429
022 C000001 507109
022 D000001 382251
022 A000002 CITIBANK, NA
022 B000002 13-5266470
022 C000002 430668
022 D000002 378913
022 A000003 SMITH BARNEY, HARRIS UPHAM & CO., INC.
022 B000003 13-3371860
022 C000003 395356
022 D000003 370384
022 A000004 MORGAN GUARANTY TRUST CO.
022 B000004 13-5123346
022 C000004 412949
022 D000004 329893
022 A000005 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000005 13-5674085
022 C000005 431070
022 D000005 246502
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006 220530
022 D000006 149738
022 A000007 FIRST NATIONAL BANK OF CHICAGO
022 B000007 36-0899825
<PAGE> PAGE 3
022 C000007 152319
022 D000007 71720
022 A000008 PIPER, JAFFRAY & HOPWOOD, INC.
022 B000008 41-0953246
022 C000008 39257
022 D000008 79332
022 A000009 LEHMAN BROTHERS, INC.
022 B000009 13-2518466
022 C000009 80239
022 D000009 30051
022 A000010 BANK ONE
022 B000010 86-0064160
022 C000010 69557
022 D000010 31850
023 C000000 3411598
023 D000000 2250158
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 583490
028 A020000 2076
028 A030000 0
028 A040000 439731
028 B010000 431732
028 B020000 5031
028 B030000 0
028 B040000 374746
028 C010000 464249
028 C020000 4102
028 C030000 0
028 C040000 450420
028 D010000 528488
028 D020000 4470
028 D030000 0
028 D040000 626263
<PAGE> PAGE 4
028 E010000 488032
028 E020000 5668
028 E030000 0
028 E040000 446789
028 F010000 505425
028 F020000 4262
028 F030000 0
028 F040000 542326
028 G010000 3001416
028 G020000 25609
028 G030000 0
028 G040000 2880275
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 3659
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 250000
048 A020000 0.500
048 B010000 250000
048 B020000 0.475
048 C010000 250000
048 C020000 0.450
048 D010000 250000
048 D020000 0.425
<PAGE> PAGE 5
048 E010000 250000
048 E020000 0.400
048 F010000 250000
048 F020000 0.375
048 G010000 500000
048 G020000 0.350
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 2000000
048 K020000 0.325
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 25
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 99.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
<PAGE> PAGE 6
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 36
063 B000000 0.0
064 A000000 Y
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 Y
070 P020000 Y
<PAGE> PAGE 7
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 68843
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 7722
072 G000000 0
072 H000000 0
072 I000000 815
072 J000000 139
072 K000000 67
072 L000000 49
072 M000000 21
072 N000000 107
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 26
072 S000000 15
072 T000000 3659
072 U000000 0
072 V000000 0
072 W000000 14
072 X000000 12634
072 Y000000 0
072 Z000000 56209
072AA000000 24
072BB000000 593
072CC010000 0
072CC020000 0
072DD010000 56328
072DD020000 0
072EE000000 0
073 A010000 0.0308
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1469
074 B000000 0
074 C000000 1810845
074 D000000 0
074 E000000 0
074 F000000 0
<PAGE> PAGE 8
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 41185
074 M000000 69
074 N000000 1853568
074 O000000 0
074 P000000 156
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 24426
074 S000000 0
074 T000000 1828986
074 U010000 1829585
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 0.9996
074 X000000 37313
074 Y000000 0
075 A000000 1832000
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 85000
081 A000000 Y
081 B000000 95
<PAGE> PAGE 9
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 319880
<NAME> CENTENNIAL TAX-EXEMPT TRUST
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,810,845,087
<INVESTMENTS-AT-VALUE> 1,810,845,087
<RECEIVABLES> 41,184,450
<ASSETS-OTHER> 69,155
<OTHER-ITEMS-ASSETS> 1,469,157
<TOTAL-ASSETS> 1,853,567,849
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 24,582,088
<TOTAL-LIABILITIES> 24,582,088
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,829,568,616
<SHARES-COMMON-STOCK> 1,829,584,584
<SHARES-COMMON-PRIOR> 1,648,656,970
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (582,855)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,828,985,761
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 68,843,452
<OTHER-INCOME> 0
<EXPENSES-NET> 12,633,993
<NET-INVESTMENT-INCOME> 56,209,459
<REALIZED-GAINS-CURRENT> (569,188)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 55,640,271
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 56,328,253
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,609,068,596
<NUMBER-OF-SHARES-REDEEMED> 5,483,311,899
<SHARES-REINVESTED> 55,170,917
<NET-CHANGE-IN-ASSETS> 180,239,632
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 105,127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,721,361
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,633,993
<AVERAGE-NET-ASSETS> 1,832,000,000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
Independent Auditors' Report
Centennial New York Tax Exempt Trust
The Board of Trustees and Shareholders of
Centennial New York Tax Exempt Trust:
We have audited the accompanying statement of assets and liabilities, including
the statement of investments, of Centennial New York Tax Exempt Trust as of June
30, 1998, the related statement of operations for the year then ended, the
statements of changes in net assets for the years ended June 30, 1998 and 1997,
and the financial highlights for the period July 1, 1993 to June 30, 1998. These
financial statements and financial highlights are the responsibility of the
Trust's management. Our responsibility is to express an opinion on these
financial statements and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities owned at June 30,
1998 by correspondence with the custodian. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, such financial statements and financial highlights present
fairly, in all material respects, the financial position of Centennial New York
Tax Exempt Trust at June 30, 1998, the results of its operations, the changes in
its net assets, and the financial highlights for the respective stated periods,
in conformity with generally accepted accounting principles.
DELOITTE & TOUCHE LLP
Denver, Colorado
July 22, 1998
