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<PAGE> PAGE 2
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<PAGE> PAGE 5
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<PAGE> PAGE 8
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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 16
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SIGNATURE JOHN H. COSTELLO
TITLE ASSISTANT TREASURER
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<NAME> Fidelity Newbury Street Trust
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<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.043
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.043
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
65
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 24
<NAME> Treasury Fund Advisor C Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
2,526,726
<INVESTMENTS-AT-VALUE>
2,526,726
<RECEIVABLES>
26,796
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
2,553,522
<PAYABLE-FOR-SECURITIES>
24,686
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
25,181
<TOTAL-LIABILITIES>
49,867
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
2,504,102
<SHARES-COMMON-STOCK>
62,056
<SHARES-COMMON-PRIOR>
15,902
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(447)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
2,503,655
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
110,320
<OTHER-INCOME>
0
<EXPENSES-NET>
17,385
<NET-INVESTMENT-INCOME>
92,935
<REALIZED-GAINS-CURRENT>
(56)
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
92,879
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
1,236
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
353,972
<NUMBER-OF-SHARES-REDEEMED>
308,829
<SHARES-REINVESTED>
1,011
<NET-CHANGE-IN-ASSETS>
670,657
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(391)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
5,564
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
19,846
<AVERAGE-NET-ASSETS>
34,221
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.035
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.035
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
140
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 22
<NAME> Treasury Fund Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
2,526,726
<INVESTMENTS-AT-VALUE>
2,526,726
<RECEIVABLES>
26,796
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
2,553,522
<PAYABLE-FOR-SECURITIES>
24,686
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
25,181
<TOTAL-LIABILITIES>
49,867
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
2,504,102
<SHARES-COMMON-STOCK>
949,645
<SHARES-COMMON-PRIOR>
479,929
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(447)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
2,503,655
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
110,320
<OTHER-INCOME>
0
<EXPENSES-NET>
17,385
<NET-INVESTMENT-INCOME>
92,935
<REALIZED-GAINS-CURRENT>
(56)
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
92,879
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
32,148
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
3,416,749
<NUMBER-OF-SHARES-REDEEMED>
2,957,403
<SHARES-REINVESTED>
10,370
<NET-CHANGE-IN-ASSETS>
670,657
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(391)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
5,564
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
19,846
<AVERAGE-NET-ASSETS>
790,855
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.040
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.040
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
90
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 23
<NAME> Treasury Fund Advisor B Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
2,526,726
<INVESTMENTS-AT-VALUE>
2,526,726
<RECEIVABLES>
26,796
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
2,553,522
<PAYABLE-FOR-SECURITIES>
24,686
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
25,181
<TOTAL-LIABILITIES>
49,867
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
2,504,102
<SHARES-COMMON-STOCK>
156,681
<SHARES-COMMON-PRIOR>
76,124
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(447)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
2,503,655
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
110,320
<OTHER-INCOME>
0
<EXPENSES-NET>
17,385
<NET-INVESTMENT-INCOME>
92,935
<REALIZED-GAINS-CURRENT>
(56)
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
92,879
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
3,286
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
318,202
<NUMBER-OF-SHARES-REDEEMED>
240,561
<SHARES-REINVESTED>
2,916
<NET-CHANGE-IN-ASSETS>
670,657
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(391)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
5,564
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
19,846
<AVERAGE-NET-ASSETS>
91,277
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.035
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.035
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
140
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 31
<NAME> Prime Fund Daily Money Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
7,364,854
<INVESTMENTS-AT-VALUE>
7,364,854
<RECEIVABLES>
149,507
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,514,361
<PAYABLE-FOR-SECURITIES>
29,864
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
224,171
<TOTAL-LIABILITIES>
254,035
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,261,061
<SHARES-COMMON-STOCK>
4,335,943
<SHARES-COMMON-PRIOR>
3,397,087
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(735)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
7,260,326
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
343,835
<OTHER-INCOME>
0
<EXPENSES-NET>
49,719
<NET-INVESTMENT-INCOME>
294,116
<REALIZED-GAINS-CURRENT>
2
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
294,118
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
176,391
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
20,996,468
<NUMBER-OF-SHARES-REDEEMED>
20,222,204
<SHARES-REINVESTED>
164,592
<NET-CHANGE-IN-ASSETS>
1,607,219
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(737)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
16,492
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
57,238
<AVERAGE-NET-ASSETS>
3,860,435
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.046
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.046
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
65
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 32
<NAME> Prime Fund Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
7,364,854
<INVESTMENTS-AT-VALUE>
7,364,854
<RECEIVABLES>
149,507
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,514,361
<PAYABLE-FOR-SECURITIES>
29,864
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
224,171
<TOTAL-LIABILITIES>
254,035
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,261,061
<SHARES-COMMON-STOCK>
2,925,106
<SHARES-COMMON-PRIOR>
2,256,745
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(735)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
7,260,326
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
343,835
<OTHER-INCOME>
0
<EXPENSES-NET>
49,719
<NET-INVESTMENT-INCOME>
294,116
<REALIZED-GAINS-CURRENT>
2
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
294,118
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
117,725
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
23,390,518
<NUMBER-OF-SHARES-REDEEMED>
22,831,489
<SHARES-REINVESTED>
109,332
<NET-CHANGE-IN-ASSETS>
1,607,219
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(737)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
16,492
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
57,238
<AVERAGE-NET-ASSETS>
2,736,206
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.043
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.043
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
90
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 11
<NAME> Tax Exempt Fund Daily Money Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
678,812
<INVESTMENTS-AT-VALUE>
678,812
<RECEIVABLES>
8,537
<ASSETS-OTHER>
49
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
687,398
<PAYABLE-FOR-SECURITIES>
9,500
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
4,787
<TOTAL-LIABILITIES>
14,287
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
673,206
<SHARES-COMMON-STOCK>
503,144
<SHARES-COMMON-PRIOR>
518,586
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(95)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
673,111
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
22,421
<OTHER-INCOME>
0
<EXPENSES-NET>
4,912
<NET-INVESTMENT-INCOME>
17,509
<REALIZED-GAINS-CURRENT>
(28)
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
17,481
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
13,168
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
1,751,899
<NUMBER-OF-SHARES-REDEEMED>
1,778,974
<SHARES-REINVESTED>
11,633
<NET-CHANGE-IN-ASSETS>
(31,726)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(68)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,718
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
5,915
<AVERAGE-NET-ASSETS>
503,968
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.026
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.026
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
65
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704207
<NAME> Fidelity Newbury Street Trust
<SERIES>
<NUMBER> 12
<NAME> Tax Exempt Fund Capital Reserves Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
678,812
<INVESTMENTS-AT-VALUE>
678,812
<RECEIVABLES>
8,537
<ASSETS-OTHER>
49
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
687,398
<PAYABLE-FOR-SECURITIES>
9,500
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
4,787
<TOTAL-LIABILITIES>
14,287
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
673,206
<SHARES-COMMON-STOCK>
170,062
<SHARES-COMMON-PRIOR>
186,318
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(95)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
0
<NET-ASSETS>
673,111
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
22,421
<OTHER-INCOME>
0
<EXPENSES-NET>
4,912
<NET-INVESTMENT-INCOME>
17,509
<REALIZED-GAINS-CURRENT>
(28)
<APPREC-INCREASE-CURRENT>
0
<NET-CHANGE-FROM-OPS>
17,481
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
4,341
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
897,725
<NUMBER-OF-SHARES-REDEEMED>
918,128
<SHARES-REINVESTED>
4,147
<NET-CHANGE-IN-ASSETS>
(31,726)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(68)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,718
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
5,915
<AVERAGE-NET-ASSETS>
183,036
<PER-SHARE-NAV-BEGIN>
1.000
<PER-SHARE-NII>
.024
<PER-SHARE-GAIN-APPREC>
0
<PER-SHARE-DIVIDEND>
.024
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
1.000
<EXPENSE-RATIO>
90
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
TO ACCOMPANY FORM N-SAR
____
To the Trustees of Newbury Street Trust:
In planning and performing our audits of the financial
statements and financial highlights (hereafter referred to as
"financial statements") of the Funds of Newbury Street Trust:
Treasury Fund, Prime Fund and Tax-Exempt Fund for the year ended
October 31, 1999 we considered their internal control, including
control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal
control.
The management of the Trust is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control,
misstatements due to errors or fraud may occur and not be
detected. Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of any specific
internal control component does not reduce to a relatively low
level the risk that misstatements due to errors or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters
involving internal control and its operation, including controls
over safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 1999.
This report is intended solely for the information and use of
management and the Trustees of the Trust and the Securities and
Exchange Commission.
PricewaterhouseCoopers LLP
Boston, Massachusetts
December 8, 1999
