INDEPENDENT AUDITORS' REPORT
TO THE BOARD OF DIRECTORS OF CASH TRUST SERIES, INC.
AND SHAREHOLDERS OF PRIME CASH SERIES:
We have audited the accompanying statement of assets and liabilities,
including the portfolio of investments, of Prime Cash Series
(the "Fund") (a portfolio of Cash Trust Series, Inc.) as of
May 31, 2000, and the related statement of operations for the year
ended May 31, 2000, the statement of changes in net assets for the
years ended May 31, 2000 and 1999, and the financial highlights for
the periods presented. These financial statements and financial
highlights are the responsibility of the Fund's management.
Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audits.
We conducted our audits in accordance with auditing standards
generally accepted in the United States of America. Those standards
require that we plan and perform the audits to provide reasonable
assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included
confirmation of securities owned at May 31, 2000, by correspondence
with the custodian and brokers; where replies were not received from
brokers, we performed other auditing procedures. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe our audits provide a
reasonable basis for our opinion.
In our opinion, such financial statements and financial highlights
present fairly, in all material respects, the financial position
of the Fund as of May 31, 2000, the results of its operations,
the changes in its net assets and its financial highlights for the
respective stated periods in conformity with accounting principles
generally accepted in the United States of America.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
July 14, 2000
