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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE JOHN H. COSTELLO
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
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<CIK> 0000704207
<NAME> Newbury Street Trust
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0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 12
<NAME> Tax-Exempt Fund - Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
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<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
695,701
<INVESTMENTS-AT-VALUE>
695,701
<RECEIVABLES>
20,063
<ASSETS-OTHER>
160
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
715,924
<PAYABLE-FOR-SECURITIES>
2,500
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
8,587
<TOTAL-LIABILITIES>
11,087
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
704,905
<SHARES-COMMON-STOCK>
186,318
<SHARES-COMMON-PRIOR>
176,659
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(68)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
704,837
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
24,686
<OTHER-INCOME>
0
<EXPENSES-NET>
4,859
<NET-INVESTMENT-INCOME>
19,827
<REALIZED-GAINS-CURRENT>
56
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
19,883
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
4,908
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
828,008
<NUMBER-OF-SHARES-REDEEMED>
822,655
<SHARES-REINVESTED>
4,306
<NET-CHANGE-IN-ASSETS>
59,577
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(124)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,697
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
5,819
<AVERAGE-NET-ASSETS>
179,556
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.027
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.027
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
.90
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 31
<NAME> Prime Fund - Daily Money Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
5,722,899
<INVESTMENTS-AT-VALUE>
5,722,899
<RECEIVABLES>
115,852
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
5,838,751
<PAYABLE-FOR-SECURITIES>
53,986
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
131,658
<TOTAL-LIABILITIES>
185,644
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
5,653,844
<SHARES-COMMON-STOCK>
3,397,087
<SHARES-COMMON-PRIOR>
2,687,132
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(737)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
5,653,107
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
285,003
<OTHER-INCOME>
0
<EXPENSES-NET>
37,620
<NET-INVESTMENT-INCOME>
247,383
<REALIZED-GAINS-CURRENT>
54
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
247,437
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
150,820
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
17,264,760
<NUMBER-OF-SHARES-REDEEMED>
16,695,205
<SHARES-REINVESTED>
140,400
<NET-CHANGE-IN-ASSETS>
1,202,301
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(792)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
12,531
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
43,070
<AVERAGE-NET-ASSETS>
2,996,147
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.050
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.050
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
65
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 32
<NAME> Prime Fund - Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
5,722,899
<INVESTMENTS-AT-VALUE>
5,722,899
<RECEIVABLES>
115,852
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
5,838,751
<PAYABLE-FOR-SECURITIES>
53,986
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
131,658
<TOTAL-LIABILITIES>
185,644
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
5,653,844
<SHARES-COMMON-STOCK>
2,256,745
<SHARES-COMMON-PRIOR>
1,764,453
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(737)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
5,653,107
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
285,003
<OTHER-INCOME>
0
<EXPENSES-NET>
37,620
<NET-INVESTMENT-INCOME>
247,383
<REALIZED-GAINS-CURRENT>
54
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
247,437
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
96,563
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
45,041,696
<NUMBER-OF-SHARES-REDEEMED>
44,839,599
<SHARES-REINVESTED>
290,195
<NET-CHANGE-IN-ASSETS>
1,202,301
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(792)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
12,531
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
43,070
<AVERAGE-NET-ASSETS>
2,016,209
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.048
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.048
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
90
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 21
<NAME> Treasury Fund - Daily Money Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
1,776,487
<INVESTMENTS-AT-VALUE>
1,776,487
<RECEIVABLES>
92,490
<ASSETS-OTHER>
2
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
1,868,979
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
35,982
<TOTAL-LIABILITIES>
35,982
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
1,833,388
<SHARES-COMMON-STOCK>
1,261,382
<SHARES-COMMON-PRIOR>
1,284,315
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(391)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
1,832,997
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
89,360
<OTHER-INCOME>
0
<EXPENSES-NET>
11,581
<NET-INVESTMENT-INCOME>
77,779
<REALIZED-GAINS-CURRENT>
48
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
77,827
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
61,024
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
6,183,446
<NUMBER-OF-SHARES-REDEEMED>
6,257,476
<SHARES-REINVESTED>
51,097
<NET-CHANGE-IN-ASSETS>
238,247
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(439)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
4,006
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
13,434
<AVERAGE-NET-ASSETS>
1,238,641
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.049
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.049
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
65
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 24
<NAME> Treasury Fund - Adv. C Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
1,776,487
<INVESTMENTS-AT-VALUE>
1,776,487
<RECEIVABLES>
92,490
<ASSETS-OTHER>
2
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
1,868,979
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
35,982
<TOTAL-LIABILITIES>
35,982
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
1,833,388
<SHARES-COMMON-STOCK>
15,902
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(391)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
1,832,997
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
89,360
<OTHER-INCOME>
0
<EXPENSES-NET>
11,581
<NET-INVESTMENT-INCOME>
77,779
<REALIZED-GAINS-CURRENT>
48
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
77,827
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
304
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
77,740
<NUMBER-OF-SHARES-REDEEMED>
62,085
<SHARES-REINVESTED>
247
<NET-CHANGE-IN-ASSETS>
238,247
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(439)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
4,006
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
13,434
<AVERAGE-NET-ASSETS>
7,227
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.041
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.041
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
140
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 22
<NAME> Treasury Fund - Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
1,776,487
<INVESTMENTS-AT-VALUE>
1,776,487
<RECEIVABLES>
92,490
<ASSETS-OTHER>
2
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
1,868,979
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
35,982
<TOTAL-LIABILITIES>
35,982
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
1,833,388
<SHARES-COMMON-STOCK>
479,929
<SHARES-COMMON-PRIOR>
264,844
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(391)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
1,832,997
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
89,360
<OTHER-INCOME>
0
<EXPENSES-NET>
11,581
<NET-INVESTMENT-INCOME>
77,779
<REALIZED-GAINS-CURRENT>
48
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
77,827
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
14,651
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
1,993,752
<NUMBER-OF-SHARES-REDEEMED>
1,790,313
<SHARES-REINVESTED>
11,646
<NET-CHANGE-IN-ASSETS>
238,247
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(439)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
4,006
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
13,434
<AVERAGE-NET-ASSETS>
313,520
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.047
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.047
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
90
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Newbury Street Trust
<SERIES>
<NUMBER> 23
<NAME> Treasury Fund - Adv. B Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1998
<PERIOD-END>
oct-31-1998
<INVESTMENTS-AT-COST>
1,776,487
<INVESTMENTS-AT-VALUE>
1,776,487
<RECEIVABLES>
92,490
<ASSETS-OTHER>
2
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
1,868,979
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
35,982
<TOTAL-LIABILITIES>
35,982
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
1,833,388
<SHARES-COMMON-STOCK>
76,124
<SHARES-COMMON-PRIOR>
45,979
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(391)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
1,832,997
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
89,360
<OTHER-INCOME>
0
<EXPENSES-NET>
11,581
<NET-INVESTMENT-INCOME>
77,779
<REALIZED-GAINS-CURRENT>
48
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
77,827
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
1,800
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
154,355
<NUMBER-OF-SHARES-REDEEMED>
125,864
<SHARES-REINVESTED>
1,654
<NET-CHANGE-IN-ASSETS>
238,247
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(439)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
4,006
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
13,434
<AVERAGE-NET-ASSETS>
43,324
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.042
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.042
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
140
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
