<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE SEMI-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> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 110,469,320
<INVESTMENTS-AT-VALUE> 110,469,320
<RECEIVABLES> 1,420,139
<ASSETS-OTHER> 3,896,512
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,785,971
<PAYABLE-FOR-SECURITIES> 3,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63,532
<TOTAL-LIABILITIES> 3,063,532
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112,722,627
<SHARES-COMMON-STOCK> 112,722,627
<SHARES-COMMON-PRIOR> 79,411,225
<ACCUMULATED-NII-CURRENT> (188)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 112,722,439
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,920,002
<OTHER-INCOME> 0
<EXPENSES-NET> 204,195
<NET-INVESTMENT-INCOME> 2,715,807
<REALIZED-GAINS-CURRENT> 2,506
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,718,313
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,715,807)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 161,320,137
<NUMBER-OF-SHARES-REDEEMED> (130,641,736)
<SHARES-REINVESTED> 2,633,001
<NET-CHANGE-IN-ASSETS> 33,313,908
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 203,986
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 204,195
<AVERAGE-NET-ASSETS> 90,660,398
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
</TABLE>
