May 1, 1996
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Filings - Rule 497(j)
Re: Phillips Capital Investments, Inc. (the "Fund")
Registration Statement File No.: 33-20943
CIK No.: 0000826659
Dear Sir/Madam:
Pursuant to Rule 497(j) under the Securities Act of 1933,
this is to certify on behalf of the Fund that the form of
Prospectus and Statement of Additional Information that would
have been filed under paragraphs (b) or (c) of that section do
not differ from those contained in the most recent amendment,
Post-Effective Amendment No. 8, to the Fund's Registration
Statement, electronically filed with the Securities and Exchange
Commission on April 29, 1996.
Very truly yours,
Joseph V. Del Raso, Esquire
cc: Guy F. Phillips, Jr. (w/o enc.)
phlp-497.trn
