<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE ANNUAL REPORT OF AMERICAN CENTURY PREMIUM RESERVES, INC.
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000896308
<NAME> AMERICAN CENTURY PREMIUM RESERVES, INC.
<SERIES>
<NUMBER> 2
<NAME> PREMIUM GOVERNMENT RESERVE FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 86,875,388
<INVESTMENTS-AT-VALUE> 86,875,388
<RECEIVABLES> 626,752
<ASSETS-OTHER> 2,097,663
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,599,803
<PAYABLE-FOR-SECURITIES> 7,347,658
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32,014
<TOTAL-LIABILITIES> 10,191,272
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 79,411,225
<SHARES-COMMON-STOCK> 79,411,225
<SHARES-COMMON-PRIOR> 120,733,318
<ACCUMULATED-NII-CURRENT> (2,694)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 79,408,531
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,788,220
<OTHER-INCOME> 0
<EXPENSES-NET> 404,749
<NET-INVESTMENT-INCOME> 4,383,471
<REALIZED-GAINS-CURRENT> (2,694)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,380,777
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,383,471
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 385,615,932
<NUMBER-OF-SHARES-REDEEMED> (431,832,940)
<SHARES-REINVESTED> 4,334,708
<NET-CHANGE-IN-ASSETS> (41,884,994)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 404,059
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 404,749
<AVERAGE-NET-ASSETS> 89,603,844
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
</TABLE>
