RESERVE TAX EXEMPT TRUST, 497J, 2000-03-02

RESERVE TAX EXEMPT TRUST
497J, 2000-03-02

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March 2, 2000

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
substantively differ from that contained in the Trust's Post-Effective Amendment
No. 38 to its Registration Statement on Form N-1A, which was filed
electronically with the Commission on February 10, 2000.

                                    Very truly yours,


                                    By: /s/ MaryKathleen F. Gaza
                                    Name: MaryKathleen F. Gaza
                                    Title:      General Counsel