[The Reserve Funds letterhead]
July 23, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Reserve Tax-Exempt Trust
File Nos. 2-82592 and 811-3696
Dear Sirs:
Pursuant to Rule 497(j) under the Securities Act of 1933, as
amended, I hereby certify on behalf of Reserve Tax-Exempt Trust ("Registrant"),
a registered management investment company (the "Trust"), that the form of the
Prospectus and Statement of Additional Information for the Trust and its
investment series that would have been filed under Rule 497(c) does not differ
from that contained in the Trust's Post-Effective Amendment No. 35 to its
Registration Statement on Form N-1A, which was filed electronically with the
Commission on June 25, 1999.
Very truly yours,
By: /s/ MaryKathleen Foynes
--------------------------
Name: MaryKathleen Foynes
Title: General Counsel
cc: Brent J. Fields, Esq.
Securities and Exchange Commission
