UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-Q



[X]   Quarterly  report pursuant to Section 13 or  15(d)  of  the
Securities Exchange Act of 1934
For the quarterly period ended March 31, 2000 or

[  ]   Transition report pursuant to Section 13 or 15(d)  of  the
Securities Exchange Act of 1934
For the transition period from               to

Commission File No. 0-18314

                     DEAN WITTER PRINCIPAL PLUS FUND L.P.
     (Exact name of registrant as specified in its charter)


          Delaware                              13-3541588
(State or other jurisdiction of              (I.R.S. Employer
incorporation  or organization)                    Identification
No.)

c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY             10048
(Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code (212) 392-5454


(Former  name, former address, and former fiscal year, if changed
since last report)

Indicate  by check-mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.

Yes     X           No










<PAGE>
<TABLE>

              DEAN WITTER PRINCIPAL PLUS FUND L.P.

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                         March 31, 2000

<CAPTION>

PART I. FINANCIAL INFORMATION
<S>                                                          <C>
   Item 1.  Consolidated Financial Statements

     Consolidated Statements of Financial Condition
     March 31, 2000 (Unaudited) and December 31, 1999..... .....2

     Consolidated Statements of Operations for the
     Quarters Ended March 31, 2000 and 1999 (Unaudited)........3
     Consolidated Statements of Changes in Partners'
     Capital for the Quarters Ended March 31, 2000 and
     1999 (Unaudited).......................................... 4

     Consolidated Statements of Cash Flows for the
     Quarters Ended March 31, 2000 and 1999
     (Unaudited)................................................5

     Notes to Consolidated Financial Statements
     (Unaudited).............................................6-11

   Item 2.  Management's Discussion and Analysis
            of Financial Condition and Results of
            Operations..................................... 12-19

   Item 3.  Quantitative and Qualitative Disclosures
            about Market Risk...............................19-32

PART II. OTHER INFORMATION

   Item 1.  Legal Proceedings................................. 33

            Item    5.Other   Information........................
            ......... 33

            Item  6.  Exhibits  and Reports on  Form  8-K........
            .......... 34




</TABLE>







<PAGE>
<TABLE>

                 PART I.  FINANCIAL INFORMATION

Item 1.  Consolidated Financial Statements

              DEAN WITTER PRINCIPAL PLUS FUND L.P.
         CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
<CAPTION>
                                     March 31,     December 31,
                                        2000           1999
                                         $              $
                                    (Unaudited)
ASSETS
<S>                                     <C>            <C>
Equity in futures interests trading accounts:
 Cash                             4,962,880       6,014,023
    Net   unrealized   gain   on   open   contracts     1,342,982
380,736

      Total Trading Equity        6,305,862       6,394,759

Investment  in  Zero-Coupon U.S. Treasury Securities   39,681,140
40,367,536
Interest receivable (DWR)            24,706                24,726
Unrealized loss on Zero-Coupon U.S.
   Treasury Securities             (849,846)     (1,018,390)

      Total Assets               45,161,862      45,768,631

LIABILITIES AND PARTNERS' CAPITAL

Liabilities
 Redemptions payable              2,607,495       1,341,552
 Accrued brokerage fees (DWR)       152,903         155,551
 Accrued administrative expenses    140,720         121,844
 Accrued management fee               38,226          38,888

      Total Liabilities           2,939,344       1,657,835
Minority Interest                   199,564         198,080

Partners' Capital
 Limited Partners (22,466.586  and
       23,879.732  Units, respectively)41,454,642   43,352,757
 General Partner (308 Units)        568,312             559,959
 Total Partners' Capital         42,022,954      43,912,716

  Total  Liabilities and Partners' Capital   45,161,862         4
5,768,631

NET ASSETS PER LIMITED PARTNERSHIP
 AGREEMENT                        42,022,954       43,912,716

NET ASSET VALUE PER UNIT            1,845.17         1,815.50
<FN>

          The accompanying notes are an integral part
          of these consolidated financial statements.
</TABLE>
<PAGE>
<TABLE>


              DEAN WITTER PRINCIPAL PLUS FUND L.P.
             CONSOLIDATED STATEMENTS OF OPERATIONS
                           (Unaudited)
<CAPTION>
                                For the Quarters Ended March 31,

                                       2000            1999
                                        $            $
REVENUES
<S>                           <C>              <C>
 Trading profit (loss):
        Realized                          (424,587)       586,273
Net change in unrealized           962,246      (946,109)
      Total Trading Results        537,659      (359,836)
    Interest   Income                     622,044         666,798
Change in value of Yield Pool      168,544    (1,112,237)
      Total Revenues             1,328,247       (805,275)
EXPENSES

 Brokerage fees (DWR)              452,359      505,908
 Management fees                   113,090      126,477
   Transaction   fees  and  costs           21,582         24,805
Administrative expenses             22,000       24,000

      Total Expenses               609,031      681,190

INCOME   (LOSS)  BEFORE  MINORITY  INTEREST719,216              (
1,486,465)
Minority     interest    in    income     (loss)            1,484
(35,121)
NET INCOME (LOSS)                  717,732     (1,451,344)
NET INCOME (LOSS) ALLOCATION

   Limited   Partners                    709,379      (1,434,712)
General Partner                      8,353       (16,632)
NET INCOME (LOSS)                  717,732   (1,451,344)
Less:  Net change in unrealized gain
     on   Zero-Coupon   U.S.   Treasury   Securities            -
1,112,237

NET INCOME (LOSS) ALLOCATED TO PARTNERS
 FOR TAX AND NET ASSET VALUATION     717,732    (339,107)

Net Income (Loss) Allocation for Tax and Net Asset
 Valuation
     Limited Partners                709,379    (335,188)
     General Partners                  8,353      (3,919)
Net Income (Loss) Allocation for Tax and Net Asset
    Valuation
     Limited Partners                  29.67      (12.72)
  General Partner                      29.67      (12.72)
      <FN>
          The accompanying notes are an integral part
          of these consolidated financial statements.
</TABLE>


<PAGE>
<TABLE>
              DEAN WITTER PRINCIPAL PLUS FUND  L.P.
    CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
         For the Quarters Ended March 31, 2000 and 1999
                          (Unaudited)


<CAPTION>

                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total


<S>             <C>                    <C>                   <C>                <C>
Partners' Capital,
   December 31, 1998 26,653.343            $51,660,212           $603,953
$52,264,165
Net Loss                 -                 (1,434,712)           (16,632)
(1,451,344)

Redemptions             (377.918)              (708,556)                -
(708,556)

Partners' Capital,
   March 31, 1999      26,275.425          $49,516,944            $587,321
$50,104,265




Partners' Capital,
   December 31, 1999   24,187.732          $43,352,757           $559,959
$43,912,716

Net Income                -                709,379         8,353      717,732

Redemptions           (1,413.146)              (2,607,494)              -
(2,607,494)

Partners' Capital,
   March 31, 2000      22,774.586          $41,454,642            $568,312
$42,022,954






<FN>







           The accompanying notes are an integral part
          of these consolidated financial statements.

</TABLE>
<PAGE>
<TABLE>

              DEAN WITTER PRINCIPAL PLUS FUND L.P.
             CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)


<CAPTION>


                                For the Quarters Ended March 31,

                                        2000         1999
                                           $         $

CASH FLOWS FROM OPERATING ACTIVITIES
<S>                            <C>                       <C>
Net   income  (loss)                     717,732                (
1,451,344)
Noncash item included in income (loss):
     Net change in unrealized        (962,246)            946,109
Change  in  value  of  yield  pool        (168,544)             1
,112,237

Decrease in operating assets:
     Investment  in  Zero-coupon U.S. Treasury  Securities686,396
201,432
     Interest receivable (DWR)             20               2,998
Increase (decrease) in operating liabilities:
        Accrued     brokerage     fee     (DWR)           (2,648)
(4,947)
    Accrued administrative expenses  18,876              24,000
    Accrued management fee              (662)            (1,236)
           Incentive       fee        payable                   -
(147,477)
Net    cash   provided   by   operating   activities      288,924
681,772

CASH FLOWS FROM FINANCING ACTIVITIES

   Increase  (decrease)  in  redemptions  payable1,265,943      (
247,607)
Increase (decrease) in minority interest1,484            (35,121)
Redemptions        of       Units                     (2,607,494)
(708,556)

Net    cash   used   for   financing   activities     (1,340,067)
(991,284)
Net   decrease  in  cash               (1,051,143)              (
309,512)
Balance      at     beginning     of     period         6,014,023
9,270,594
Balance      at     end     of     period               4,962,880
8,961,082


<FN>



          The accompanying notes are an integral part
          of these consolidated financial statements.
</TABLE>


<PAGE>
               DEAN WITTER PRINCIPAL PLUS FUND L.P.

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           (UNAUDITED)



The  financial statements include, in the opinion of  management,

all  adjustments necessary for a fair presentation of the results

of  operations  and financial condition of Dean Witter  Principal

Plus  Fund  L.P. (the "Partnership").  The consolidated financial

statements  and  condensed  notes  herein  should  be   read   in

conjunction  with  the  Partnership's December  31,  1999  Annual

Report on Form 10-K.



1. Organization

Dean  Witter  Principal  Plus Fund L.P.  is  a  Delaware  limited

partnership  organized  to engage primarily  in  the  speculative

trading  of  futures contracts, options on futures contracts  and

physical  commodities,  forward contracts,  and  other  commodity

interests (collectively, "futures interests").



The   general   partner   is   Demeter   Management   Corporation

("Demeter").  The non-clearing commodity broker  is  Dean  Witter

Reynolds  Inc.  ("DWR")  and an unaffiliated  clearing  commodity

broker,  Carr  Futures  Inc.  ("Carr"),  provides  clearing   and

execution  services.   Both  Demeter  and  DWR  are  wholly-owned

subsidiaries  of  Morgan Stanley Dean Witter & Co.   The  Trading

Manager to the Partnership





<PAGE>
              DEAN WITTER PRINCIPAL PLUS FUND L.P.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)


is RXR Inc. (the "Trading Manager").



2. Revenue Recognition

The  yield pool is valued at cost plus accreted interest with the

accumulated  unrealized  gain  (loss)  on  the  Zero-Coupon  U.S.

Treasury   Securities  separately  disclosed.   The  year-to-date

change  in  the  yield pool's market value is  reflected  in  the

Consolidated   Statements   of  Operations.    The   consolidated

statements of financial condition and the consolidated statements

of  operations  have been reconciled to reflect Net  Assets,  Net

Asset Value per Unit and Net Income (Loss) in accordance with the

terms  of the Limited Partnership Agreement. For the three months

ended  March  31,  2000,  $551,833 of interest  income  has  been

accreted on the Yield Pool.  At March 31, 2000, the cost  of  the

Yield  Pool  was $31,421,425 and the accreted interest receivable

thereon  was $8,259,715.  The market value of the Yield  Pool  on

March 31 2000, was approximately $38,831,294.



3. Related Party Transactions

The Partnership's cash is on deposit with DWR and Carr in futures

interests trading accounts to meet margin requirements as needed.

DWR  pays interest on these funds based on a prevailing  rate  on

U.S. Treasury bills. The Partnership pays brokerage fees to DWR.





<PAGE>
              DEAN WITTER PRINCIPAL PLUS FUND L.P.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)




4.  Financial Instruments

The  Partnership  trades futures contracts,  options  on  futures

contracts and physical commodities, forward contracts, and  other

commodity  interests.  Futures and forwards  represent  contracts

for  delayed  delivery of an instrument at a specified  date  and

price.   Risk arises from changes in the value of these contracts

and  the  potential inability of counterparties to perform  under

the terms of the contracts.  There are numerous factors which may

significantly  influence  the market value  of  these  contracts,

including interest rate volatility.



In  June  1998, the Financial Accounting Standards Board ("FASB")

issued  Statement of Financial Accounting Standard  ("SFAS")  No.

133,   "Accounting   for  Derivative  Instruments   and   Hedging

Activities" effective for fiscal years beginning after  June  15,

1999.   In  June 1999, the FASB issued SFAS No. 137,  "Accounting

for  Derivative Instruments and Hedging Activities - Deferral  of

the  Effective Date of SFAS No. 133," which defers  the  required

implementation of SFAS No. 133 until fiscal year beginning  after

June  15, 2000.  However, the Partnership had previously  elected

to adopt the provisions of SFAS No. 133 beginning with the fiscal

year  ended December 31, 1998.  SFAS No. 133 supersedes SFAS  No.

119 and No. 105, which required the disclosure of average


<PAGE>
              DEAN WITTER PRINCIPAL PLUS FUND L.P.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)




aggregate fair values and contract/notional values, respectively,

of  derivative financial instruments for an entity which  carries

its  assets at fair value.  The application of SFAS No. 133  does

not  have  a  significant  effect on the Partnership's  financial

statements.



The  net  unrealized gain on open contracts  are  reported  as  a

component  of  "Equity in futures interests trading accounts"  on

the  consolidated statements of financial condition  and  totaled

$1,342,982 and $380,736 at March 31, 2000 and December 31,  1999,

respectively.



Of  the $1,342,982 net unrealized gain on open contracts at March

31, 2000, $1,379,816 related to exchange-traded futures contracts

and  ($36,834)  related to off-exchange-traded  forward  currency

contracts.



Of the $380,736 net unrealized gain on open contracts at December

31,  1999,  $325,528 related to exchange-traded futures contracts

and  $55,208  related  to  off-exchange-traded  forward  currency

contracts.






<PAGE>
              DEAN WITTER PRINCIPAL PLUS FUND L.P.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)




Exchange-traded  futures contracts held  by  the  Partnership  at

March  31,  2000 and December 31, 1999 mature through June  2000.

Off-exchange-traded  forward  currency  contracts  held  by   the

Partnership  at  March  31,  2000 and December  31,  1999  mature

through June 2000 and March 2000, respectively.



The Partnership has credit risk associated with counterparty non-

performance.  The credit risk associated with the instruments  in

which  the  Partnership  is involved is limited  to  the  amounts

reflected   in  the  Partnership's  consolidated  statements   of

financial condition.



The Partnership also has credit risk because DWR and Carr act  as

the  futures  commission  merchants or the  counterparties,  with

respect  to  most  of  the Partnership's assets.  Exchange-traded

futures and futures-styled options contracts are marked to market

on  a  daily basis, with variations in value settled on  a  daily

basis. Each of DWR and Carr, as a futures commission merchant for

all  of  the  Partnership's exchange-traded futures and  futures-

styled  options contracts, are required, pursuant to  regulations

of the Commodity Futures Trading Commission ("CFTC") to segregate

from  their  own  assets,  and for  the  sole  benefit  of  their

commodity  customers,  all funds held by  them  with  respect  to

exchange-traded


<PAGE>
              DEAN WITTER PRINCIPAL PLUS FUND L.P.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONCLUDED)




futures and futures-styled options contracts, including an amount

equal to the net unrealized gain on all open futures and futures-

styled  options contracts, which funds, in the aggregate, totaled

6,342,696 and $6,339,551 at March 31, 2000 and December 31, 1999,

respectively.  With  respect  to the Partnership's  off-exchange-

traded forward currency contracts, there are no daily settlements

of  variations  in  value nor is there any  requirement  that  an

amount equal to the net unrealized gain on open forward contracts

be segregated.  With respect to those off-exchange-traded forward

currency contracts, the Partnership is at risk to the ability  of

Carr, the sole counterparty on all of such contracts, to perform.

The   Partnership  has  a  netting  agreement  with  Carr.   This

agreement,  which  seeks  to reduce both  the  Partnership's  and

Carr's   exposure   to   off-exchange-traded   forward   currency

contracts,  should  materially decrease the Partnership's  credit

risk  in  the  event of Carr's bankruptcy or insolvency.   Carr's

parent,   Credit  Agricole  Indosuez,  has  guaranteed   to   the

Partnership  payment  of  the  net  liquidating  value   of   the

transactions  in  the Partnership's account with Carr  (including

foreign currency contracts).











<PAGE>

Item   2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
CONDITION AND RESULTS OF OPERATIONS



Liquidity - The Partnership deposits its assets with DWR as  non-

clearing  broker and Carr as clearing broker in separate  futures

trading  accounts  established for  the  Trading  Manager,  which

assets  are  used as margin to engage in trading. The assets  are

held   in  either  non-interest-bearing  bank  accounts   or   in

securities  and instruments permitted by the CFTC for  investment

of  customer  segregated  or secured  funds.   The  Partnership's

assets held by the commodity brokers may be used as margin solely

for  the  Partnership's  trading.  Since the  Partnership's  sole

purpose  is  to  trade in futures, forwards, and options,  it  is

expected  that the Partnership will continue to own  such  liquid

assets for margin purposes.



The  Partnership's investment in futures, forwards,  and  options

may, from time to time, be illiquid.  Most U.S. futures exchanges

limit  fluctuations in prices during a single day by  regulations

referred  to  as  "daily price fluctuations  limits"   or  "daily

limits".   Trades may not be executed at prices beyond the  daily

limit.  If the price for a particular futures or options contract

has increased or decreased by an amount equal to the daily limit,

positions  in  that futures or options contract  can  neither  be

taken  nor liquidated unless traders are willing to effect trades

at  or  within the limit.  Futures prices have occasionally moved

the daily limit for several consecutive days with little or

<PAGE>

no   trading.    These  market  conditions  could   prevent   the

Partnership  from  promptly liquidating its  futures  or  options

contracts and result in restrictions on redemptions.



There  is  no limitation on daily price moves in trading  forward

contracts  on  foreign currencies.  The markets  for  some  world

currencies  have low trading volume and are illiquid,  which  may

prevent  the  Partnership from trading in potentially  profitable

markets  or  prevent  the Partnership from  promptly  liquidating

unfavorable  positions  in  such markets  and  subjecting  it  to

substantial  losses.   Either of these  market  conditions  could

result in restrictions on redemptions.



The  Partnership  has  never had illiquidity  affect  a  material

portion of its assets.



Capital  Resources - The Partnership does not have, or expect  to

have,  any  capital assets.  Redemptions of additional  units  of

limited  partnership  interest ("Unit(s)")  in  the  future  will

affect  the amount of funds available for investments in  futures

interests in subsequent periods.  It is not possible to  estimate

the  amount  and  therefore, the impact of future redemptions  of

Units.



Results of Operations

General.  The Partnership's results depend on its Trading Manager

and the ability of the Trading Manager's trading programs to take

<PAGE>

advantage of price movements or other profit opportunities in the

futures, forwards and options markets.  The following presents  a

summary  of  the  Partnership's operations for the  three  months

ended  March  31,  2000  and 1999, respectively,  and  a  general

discussion of its trading activities during each period.   It  is

important  to note, however, that the Trading Manager  trades  in

various markets at different times and that prior activity  in  a

particular market does not mean that such market will be actively

traded  by  the  Trading Manager or will  be  profitable  in  the

future.    Consequently,  the  results  of  operations   of   the

Partnership are difficult to discuss other than in the context of

its  Trading  Manager's  trading  activities  on  behalf  of  the

Partnership  as a whole and how the Partnership has performed  in

the past.



For the Quarter Ended March 31, 2000

For  the  quarter ended March 31, 2000, the Partnership  recorded

trading  revenues, including interest income and change in  value

of  the  yield pool of $1,328,247 and posted an increase  in  Net

Asset Value per Unit. The most significant gains of approximately

1.3%  were  recorded  during February and  March  in  the  global

interest  rate  futures  component from long  positions  in  U.S.

interest  rate  futures  as  prices  moved  higher  followed   by

volatility in the U.S. stock markets as investors shifted  assets

into U.S. Treasury notes from stocks.  During January, gains were

recorded  from  short positions in eurodollar futures  as  prices

decreased as short-term U.S. interest rates climbed after a

<PAGE>

government report pointed to rising wage costs.  In the  currency

markets, profits of approximately 0.2% were recorded during March

from long Japanese yen positions versus the Australian dollar and

from  cross-rate positions, specifically in the euro relative  to

the  British pound, as the value of the European common  currency

weakened  during  January versus the pound,  hurt  by  skepticism

about  Europe's economic outlook and lack of public  support  for

the  economy  from  European officials.  In the  metals  markets,

gains of approximately 0.2% were recorded early in February  from

long  nickel futures positions as nickel prices climbed to  their

highest  level  in five years.  In the energy markets,  gains  of

approximately  0.1%  were  recorded  during  February  from  long

positions  in crude oil futures and its refined products  as  oil

prices increased on concerns about future output levels from  the

world's leading producer countries amid dwindling stockpiles  and

increasing demand.  These gains were partially offset  by  losses

of  approximately 0.2% recorded during February in the  livestock

markets  from short lean hog futures positions as prices  climbed

higher  amid expectations of higher wholesale pork prices due  to

light slaughter rates.  During January, losses were incurred from

long  positions  in live cattle futures as prices declined  after

the  USDA  raised  its forecast for U.S. red meat  production  in

2000.  In the agricultural markets, losses of approximately  0.2%

were  experienced  from  long corn futures  positions  as  prices

declined later in March amid rainfall in the U.S. Midwest.  Early



<PAGE>

in  February, losses were incurred from long positions in soybean

oil  as  prices moved lower following rains in the growing region

of  South America, particularly Brazil.  Total expenses  for  the

three months ended March 31, 2000 were $609,301, resulting in net

income  before  minority  interest  of  $719,216.   The  minority

interest  in such income was $1,484, resulting in net  income  of

$717,732 for the Partnership. The value of a Unit increased  from

$1,815.50 at December 31, 1999 to $1,845.17 at March 31, 2000.



For the Quarter Ended March 31, 1999

For  the  quarter ended March 31, 1999, the Partnership  recorded

total  trading losses net of interest income and change in  value

of  the yield pool of $805,275 and posted a decrease in Net Asset

Value  per  Unit.   The most significant losses of  approximately

1.7%  were  experienced primarily during February  in  the  fixed

income  component  of  the  balanced  portfolio  from  long  U.S.

interest rate futures positions as prices dropped in reaction  to

Federal   Reserve   Chairman   Alan   Greenspan's   warnings   in

Congressional  testimony late in February that a  strong  economy

could   reignite  inflation.   Fears  that  the  Federal  Reserve

eventually could boost target interest rates pushed down domestic

bond  prices and forced yields higher.  In the livestock markets,

losses of approximately 0.2% were recorded mainly in January from

short  positions  in hog and cattle futures  as  prices  in  both

markets moved sharply higher on concerns that winter storms would

hurt supplies, on reports of an increase in demand and plans for

<PAGE>

government  aid  programs to help struggling  farmers.   In  soft

commodities, losses of approximately 0.1% were experienced mostly

during  March  from  short  cotton futures  positions  as  prices

increased   to   their  highest  level  since   mid-December   on

technically  motivated  speculative buying  and  rumors  that  an

influential  merchant  turned bullish early  in  March.   In  the

metals  markets,  losses  of  approximately  0.1%  were  recorded

largely  from  short  copper futures positions  as  prices  moved

significantly higher in late March in response to  a  decline  in

LME  warehouse stocks and evidence that Japanese consumption  has

stabilized.   These  losses were partially  offset  by  gains  of

approximately   0.4%  recorded  in  the  stock  index   component

primarily  during  January and March  from  long  S&P  500  Index

futures positions as domestic equity prices increased in reaction

to  Wall Street reaching a major milestone during March,  as  the

Dow  Jones  Industrial Average hit 10,000  for  the  first  time.

Overall,  stock  prices  were  boosted  by  widespread  favorable

sentiment  towards the U.S. economy and robust trading  momentum.

In  the  currency  markets,  gains  of  approximately  0.4%  were

recorded  throughout a majority of the quarter mainly from  short

euro  positions  as the value of the U.S. dollar  hit  new  highs

during  March versus the European common currency on the strength

of  the  U.S. economy, concerns pertaining to the economic health

of  Europe  and Japan and growing uncertainty about the  military

action   in  Yugoslavia.   In  the  energy  markets,   gains   of

approximately 0.3% were recorded mostly during March from long

<PAGE>

positions   in  crude  and  gas  oil  futures  as  prices   moved

significantly higher due largely to the news that both  OPEC  and

non-OPEC  countries had reached an agreement to cut total  output

by  approximately  two million barrels a day beginning  April  1,

1999.    In   the   agricultural  markets,   smaller   gains   of

approximately  0.2%  were  recorded  primarily  in  January   and

February  from  short  soybean oil futures  positions  as  prices

declined  to 23-year lows in reaction to a healthy South American

crop  outlook, weak world demand and fears that Brazil will flood

the  market in an effort to support their ailing economy.   Total

expenses  for the three months ended March 31, 1999 were $681,190

resulting  in a net loss before minority interest of  $1,486,465.

The  minority interest in such loss was $35,121, resulting  in  a

net  loss of $1,451,344 for the Partnership.  The value of a Unit

decreased  from  $1,887.62 at December 31, 1998 to  $1,874.90  at

March 31, 1999.



Risks  Associated  With  the Euro.  On January  1,  1999,  eleven

countries  in  the  European Union established  fixed  conversion

rates on their existing sovereign currencies and converted  to  a

common single currency (the euro). During a three-year transition

period, the sovereign currencies will continue to exist but  only

as  a  fixed  denomination of the euro.  Conversion to  the  euro

prevents   the  Trading  Manager  from  trading  those  sovereign

currencies  and thereby limits its ability to take  advantage  of

potential market opportunities that might otherwise have existed

<PAGE>

had  separate  currencies been available  to  trade.  This  could

adversely affect the performance results of the Partnership.



Item  3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES  ABOUT  MARKET
RISK

Introduction

The  Partnership is a commodity pool involved in the  speculative

trading  of  futures interests.  The market-sensitive instruments

held  by  the  Partnership are acquired for  speculative  trading

purposes only and, as a result, all or substantially all  of  the

Partnership's  assets  are at risk of trading  loss.   Unlike  an

operating  company, the risk of market-sensitive  instruments  is

central,  not  incidental,  to  the Partnership's  main  business

activities.



The  futures interests traded by the Partnership involve  varying

degrees  of  market  risk.  Market risk is often  dependent  upon

changes  in  the level or volatility of interest rates,  exchange

rates,  and  prices  of  financial instruments  and  commodities.

Fluctuations  in market risk based upon these factors  result  in

frequent  changes  in  the fair value of the  Partnership's  open

positions, and, consequently, in its earnings and cash flow.



The  Partnership's  total market risk is  influenced  by  a  wide

variety  of  factors,  including the  diversification  among  the

Partnership's open positions, the volatility present within the



<PAGE>

markets,  and the liquidity of the markets.  At different  times,

each  of these factors may act to increase or decrease the market

risk associated with the Partnership.



The  Partnership's past performance is not necessarily indicative

of  its future results.  Any attempt to numerically quantify  the

Partnership's  market risk is limited by the uncertainty  of  its

speculative  trading.  The Partnership's speculative trading  may

cause future losses and volatility (i.e. "risk of ruin") that far

exceed  the  Partnership's experiences to date or any  reasonable

expectations based upon historical changes in market value.



Quantifying the Partnership's Trading Value at Risk

The    following    quantitative   disclosures   regarding    the

Partnership's  market  risk  exposures  contain  "forward-looking

statements"  within  the meaning of the safe  harbor  from  civil

liability  provided for such statements by the Private Securities

Litigation  Reform Act of 1995 (set forth in Section 27A  of  the

Securities Act of 1933 and Section 21E of the Securities Exchange

Act  of  1934). All quantitative disclosures in this section  are

deemed to be forward-looking statements for purposes of the  safe

harbor, except for statements of historical fact.



The  Partnership accounts for open positions using mark-to-market

accounting  principles.   Any loss in the  market  value  of  the

Partnership's open positions is directly reflected in the

<PAGE>

Partnership's earnings, whether realized or unrealized,  and  its

cash  flow.   Profits and losses on open positions  of  exchange-

traded  futures  interests are settled  daily  through  variation

margin.



The  Partnership's risk exposure in the market sectors traded  by

the  Trading Manager is estimated below in terms of Value at Risk

("VaR").  The  VaR  model used by the Partnership  includes  many

variables that could change the market value of the Partnership's

trading  portfolio.  The Partnership estimates VaR using a  model

based upon historical simulation with a confidence level of  99%.

Historical  simulation involves constructing  a  distribution  of

hypothetical  daily changes in the value of a trading  portfolio.

The  VaR  model takes into account linear exposures to price  and

interest  rate risk.  Market risks that are incorporated  in  the

VaR  model  include equity and commodity prices, interest  rates,

foreign exchange rates, and correlation among these variables.



The  hypothetical changes in portfolio value are based  on  daily

percentage changes observed in key market indices or other market

factors  ("market  risk  factors")  to  which  the  portfolio  is

sensitive.    The   historical   observation   period   of    the

Partnership's VaR is approximately four years.  The  one-day  99%

confidence  level  of the Partnership's VaR  corresponds  to  the

negative change in portfolio value that, based on observed market

risk factors, would have been exceeded once in 100 trading days.

<PAGE>

VaR   models,   including  the  Partnership's,  are  continuously

evolving  as trading portfolios become more diverse and  modeling

techniques  and systems capabilities improve.  Please  note  that

the  VaR  model is used to numerically quantify market  risk  for

historic  reporting purposes only and is not utilized  by  either

Demeter  or  the  Trading Manager in its  daily  risk  management

activities.


The Partnership's Value at Risk in Different Market Sectors

The  following  tables  indicates the  VaR  associated  with  the

Partnership's open positions as a percentage of total Net  Assets

by  primary market risk category as of March 31, 2000  and  1999.

At   March   31,   2000   and  1999,  the   Partnership's   total

capitalization  was approximately $42 million  and  $50  million,

respectively.

     Primary Market         March 31, 2000      March 31, 1999
     Risk Category          Value at Risk       Value at Risk

     Interest Rate              (0.68)%            (0.61)%

     Equity                     (0.59)             (0.81)

     Currency                   (0.29)             (0.25)

     Commodity                  (0.16)             (0.16)

     Aggregate Value at Risk    (1.02)%            (1.06)%



Aggregate Value at Risk represents the aggregate VaR of  all  the

Partnership's open positions and not the sum of the  VaR  of  the

individual Market Categories listed above. Aggregate VaR will be



<PAGE>

lower  as  it  takes  into  account correlation  among  different

positions and categories.


The  table  above  represents the VaR  of  the  Partnership's  open

positions  at  March 31, 2000 and 1999 only and is not  necessarily

representative  of  either  the  historic  or  future  risk  of  an

investment  in  the  Partnership. Because  the  Partnership's  only

business  is  the  speculative trading of  futures  interests,  the

composition of its trading portfolio can change significantly  over

any  given time period, or even within a single trading  day.   Any

changes in open positions could positively or negatively materially

impact market risk as measured by VaR.



The table below supplements the quarter-end VaR by presenting the

Partnership's high, low and average VaR, as a percentage of total

Net Assets for the four quarterly reporting periods from April 1,

1999 through March 31, 2000.



Primary Market Risk Category        High       Low     Average

Interest Rate                      (0.68)%   (0.42)%   (0.56)%

Equity                             (0.81)    (0.16)    (0.45)
Currency                           (0.29)    (0.22)    (0.26)

Commodity                          (0.21)    (0.14)    (0.17)

Aggregate Value at Risk            (1.06)%   (0.55)%   (0.81)%



Limitations on Value at Risk as an Assessment of Market Risk

The face value of the market sector instruments held by the

<PAGE>

Partnership   is   typically  many  times  the  applicable   margin

requirements.  Margin requirements generally range between  2%  and

15%  of  contract  face value. Additionally, the  use  of  leverage

causes the face value of the market sector instruments held by  the

Partnership to typically be many times the total capitalization  of

the  Partnership.   The value of the Partnership's  open  positions

thus  creates  a  "risk  of  ruin" not  typically  found  in  other

investments.  The relative size of the positions held may cause the

Partnership to incur losses greatly in excess of VaR within a short

period  of  time,  given the effects of the leverage  employed  and

market  volatility.   The VaR tables above, as  well  as  the  past

performance of the Partnership, gives no indication of  such  "risk

of  ruin". In addition, VaR risk measures should be viewed in light

of the methodology's limitations, which include the following:

     past  changes  in market risk factors will not always  result

  in  accurate predictions of the distributions and correlations of

  future market movements;

     changes  in  portfolio value in response to market  movements

  may differ from those of the VaR model;

     VaR  results reflect past trading positions while future risk

  depends on future positions;

     VaR  using a one-day time horizon does not fully capture  the

  market  risk  of  positions that cannot be liquidated  or  hedged

  within one day; and





<PAGE>

      the  historical  market  risk  factor  data  used  for   VaR

  estimation  may  provide only limited insight  into  losses  that

  could be incurred under certain unusual market movements.



The  VaR tables above present the results of the Partnership's  VaR

for  each  of  the Partnership's market risk exposures  and  on  an

aggregate  basis  at March 31, 2000 and for the  end  of  the  four

quarterly  reporting periods from April 1, 1999 through  March  31,

2000.   Since  VaR is based on historical data, VaR should  not  be

viewed   as   predictive  of  the  Partnership's  future  financial

performance or its ability to manage or monitor risk.  There can be

no  assurance that the Partnership's actual losses on a  particular

day  will  not exceed the VaR amounts indicated above or that  such

losses will not occur more than 1 in 100 trading days.



Non-Trading Risk

The  Partnership  has non-trading market risk on its  foreign  cash

balances not needed for margin.  These balances and any market risk

they  may represent are immaterial.  The Partnership also maintains

a  substantial portion (approximately 10%) of its available  assets

in cash at DWR.  A decline in short-term interest rates will result

in a decline in the Partnership's cash management income. This cash

flow risk is not considered material.







<PAGE>

The  Partnership also has non-trading risk on the Zero-Coupon  U.S.

Treasury  Securities it holds to support the guaranteed  Net  Asset

Value  per  Unit at the Guaranteed Redemption Date  of  August  31,

2003.  The  fair value of these securities is subject  to  interest

rate risk.



For  non-trading  securities, the Partnership measures  its  market

risk   using   sensitivity  analysis.   The  sensitivity   analysis

estimates   the  potential  change  in  fair  value  based   on   a

hypothetical  10% change in interest rates.  Based on  the  current

valuation  of  the  Zero-Coupon U.S. Treasury  Securities,  such  a

change  in interest rates will cause an approximately 4.68% decline

in their fair value.  Such a change will not have a material effect

on the Net Asset Value per Unit.



Materiality,  as  used  throughout this section,  is  based  on  an

assessment  of  reasonably  possible  market  movements   and   any

associated  potential  losses, taking into  account  the  leverage,

optionality  and  multiplier features of the Partnership's  market-

sensitive instruments.



Qualitative Disclosures Regarding Primary Trading Risk Exposures

The  following  qualitative disclosures regarding the Partnership's

market  risk exposures - except for (A) those disclosures that  are

statements of historical fact and (B) the descriptions of  how  the

Partnership manages its primary market risk exposures -  constitute

forward-looking statements within the meaning of Section 27A of the

Securities Act and Section 21E of the Securities Exchange Act.  The

<PAGE>

Partnership's  primary  market  risk  exposures  as  well  as   the

strategies  used and to be used by Demeter and the Trading  Manager

for  managing such exposures are subject to numerous uncertainties,

contingencies  and risks, any one of which could cause  the  actual

results  of  the  Partnership's risk controls to differ  materially

from  the objectives of such strategies.  Government interventions,

defaults  and  expropriations, illiquid markets, the  emergence  of

dominant  fundamental  factors,  political  upheavals,  changes  in

historical   price   relationships,  an  influx   of   new   market

participants,  increased regulation and many  other  factors  could

result  in  material losses as well as in material changes  to  the

risk   exposures  and  the  risk  management  strategies   of   the

Partnership.    Investors  must  be  prepared  to   lose   all   or

substantially all of their investment in the Partnership.



The  following  were the primary trading risk  exposures  of  the

Partnership as of March 31, 2000, by market sector.   It  may  be

anticipated  however,  that  these  market  exposures  will  vary

materially over time.



Interest  Rate  - The primary market exposure in the  Partnership

at  March 31, 2000 was in the interest rate sector.  Exposure was

spread   across  the  U.S.,  European,  Japanese  and  Australian

interest  rate sectors.  Interest rate movements directly  affect

the  price  of the sovereign bond futures positions held  by  the

Partnership and indirectly affect the value of its stock index

<PAGE>

and  currency positions.  Interest rate movements in one  country

as  well  as  relative interest rate movements between  countries

materially   impact   the   Partnership's   profitability.    The

Partnership's  primary  interest rate exposure  is  generally  to

interest rate fluctuations in the United States and the other G-7

countries.  However, the Partnership also takes futures positions

in  the  government  debt of smaller nations  -  e.g.  Australia.

Demeter  anticipates that G-7 and Australian interest rates  will

remain the primary interest rate exposure of the Partnership  for

the foreseeable future.  The changes in interest rates which have

the  most effect on the Partnership are changes in long-term,  as

opposed  to  short-term, rates.  Most of the speculative  futures

positions  held  by the Partnership are in medium-  to  long-term

instruments.  Consequently, even a material change in  short-term

rates  would  have  little effect on the  Partnership,  were  the

medium- to long-term rates to remain steady.



Equity  -   The second largest market exposure at March 31,  2000

was  in  the  global  stock index complex.   The  primary  equity

exposure is to equity price risk in the G-7 countries.  The stock

index  futures  traded by the Partnership are by law  limited  to

futures  on  broadly based indices.  As of March  31,  2000,  the

Partnership's  primary exposures were in the S&P 500  (U.S.)  and

Nikkei  (Japan)  stock  indices.  The  Partnership  is  primarily

exposed to the risk of adverse price trends or static markets in



<PAGE>

the  U.S. and Japanese indices.  (Static markets would not  cause

major  market  changes  but  would  make  it  difficult  for  the

Partnership  to  avoid  being  "whipsawed"  into  numerous  small

losses).



Currency   -  The Partnership's currency exposure is to  exchange

rate  fluctuations,  primarily  fluctuations  which  disrupt  the

historical pricing relationships between different currencies and

currency  pairs.  Interest rate changes as well as political  and

general  economic  conditions influence these fluctuations.   The

Partnership  trades  in  a large number of currencies,  including

cross-rates - i.e., positions between two currencies  other  than

the   U.S.   dollar.   For  the  first  quarter  of   2000,   the

Partnership's  major exposures were in the euro currency  crosses

and  outright U.S. dollar positions.  (Outright positions consist

of  the U.S. dollar vs. other currencies.  These other currencies

include  the  major  and  minor currencies).   Demeter  does  not

anticipate  that  the risk profile of the Partnership's  currency

sector  will  change significantly in the future.   The  currency

trading VaR figure includes foreign margin amounts converted into

U.S.  dollars  with  an  incremental adjustment  to  reflect  the

exchange  rate  risk inherent to the dollar-based Partnership  in

expressing VaR in a functional currency other than dollars.







<PAGE>

Commodity

Soft  Commodities  and Agriculturals - On  March  31,  2000,  the

Partnership  had  exposure  in the markets  that  comprise  these

sectors.  Most of the exposure, however, was in the soybean  oil,

livestock  and  corn  markets.  Supply and  demand  inequalities,

severe  weather disruption and market expectations  affect  price

movements in these markets.



Energy  -   On March 31, 2000, the Partnership's energy  exposure

was  shared  by  futures contracts in the  oil  and  natural  gas

markets.   Price movements in these markets result from political

developments  in  the  Middle East, weather patterns,  and  other

economic  fundamentals.   It  is possible  that  volatility  will

remain  high and that significant profits and losses, which  have

been  experienced  in the past, are expected to  continue  to  be

experienced in this market.  Natural gas has exhibited volatility

in  prices resulting from weather patterns and supply and  demand

factors and is expected to continue in this choppy pattern.



Metals  -   The  Partnership's  metals  market  exposure  is   to

fluctuations  in  the price of base metals.   During  periods  of

volatility,  base  metals  will affect performance  dramatically.

Demeter  anticipates that the base metals will remain the primary

metals market exposure of the Partnership.



<PAGE>

Qualitative Disclosures Regarding Non-Trading Risk Exposure

The  following  were the only non-trading risk exposures  of  the

Partnership as of March 31, 2000:



Foreign  Currency  Balances - The Partnership's  primary  foreign

currency  balances  are  in Australian dollars  and  euros.   The

Partnership  controls the non-trading risk of these  balances  by

regularly  converting  these  balances  back  into  dollars  upon

liquidation of the respective position.



Zero-Coupon U.S. Treasury Securities

It  is  the Partnership's intention to hold the Zero-coupon  U.S.

Treasury  Securities until their August 15,  2003  maturity  date

except  as  needed to fund quarterly redemptions.   Consequently,

the  period  to  period interest rate risk these  securities  are

subject to is not considered material.


Qualitative Disclosures Regarding Means of Managing Risk Exposure

The  Partnership  and the Trading Manager, separately,  attempt  to

manage  the risk of the Partnership's open positions in essentially

the  same  manner in all market categories traded. Demeter attempts

to  manage market exposure by diversifying the Partnership's assets

among   different  market  sectors  and  trading  approaches,   and

monitoring  the  performance  of the  Trading  Manager  daily.   In

addition,   the   Trading   Manager   establishes   diversification

guidelines,  often  set  in  terms of  the  maximum  margin  to  be

committed



<PAGE>

to   positions   in  any  one  market  sector  or  market-sensitive

instrument.



Demeter  monitors  and controls the risk of the Partnership's  non-

trading instruments, cash and Zero-Coupon U.S. Treasury Securities.

Cash   and  Zero-Coupon  U.S.  Treasury  Securities  are  the  only

Partnership  investments  directed  by  Demeter,  rather  than  the

Trading Manager.





































<PAGE>

                   PART II.  OTHER INFORMATION



Item 1.  LEGAL PROCEEDINGS

On  March 3, 2000, the plaintiffs in the New York action filed an

appeal of the order dismissing the consolidated complaint.

(Please  refer to Legal Proceedings previously disclosed  in  the

Partnership's Form 10-K for the year ended December 31, 1999  for

a more detailed discussion).



Item 5.   OTHER INFORMATION

Effective  January 31, 2000, Mark J. Hawley resigned as  Chairman

of  the  Board and a Director of Demeter and DWFCM and Robert  E.

Murray replaced him as Chairman of the Board of Demeter and  Dean

Witter Futures and Currency Management Inc. ("DWFCM").



Demeter  has determined, commencing in May 2000, to transfer  the

Partnership's futures and options clearing from Carr Futures Inc.

to  Morgan  Stanley & Co. Incorporated ("MS & Co."), an affiliate

of  Demeter,  while trades on the London Metal Exchange  will  be

cleared  by Morgan Stanley & co. International Limited  ("MSIL"),

also  an  affiliate of Demeter.  In addition, MS & Co.  and  MSIL

rather than Carr Futures, will act as the counterparty on all  of

the  Partnership's  foreign currency forward  trades.   DWR  will

continue  to  act as the non-clearing commodity  broker  for  the

Partnership.






<PAGE>
Item 6. EXHIBITS AND REPORTS ON FORM 8-K

   (A)  Exhibits

   10.03     Amended and Restated Customer Agreement, dated as of
         December 1, 1997, between the Partnership and Dean Witter
         Reynolds Inc. is filed herewith.

   10.04     Customer Agreement, dated as of December 1, 1997, among
         the Partnership, Carr Futures, Inc., and Dean Witter Reynolds
         Inc. is filed herewith.

         10.05  International Foreign Exchange Master  Agreement,
         dated as of August 1, 1997, between the Partnership  and
         Carr Futures, Inc. is filed herewith.

        (B)                     Reports on Form 8-K. - None.




































<PAGE>






                           SIGNATURE



Pursuant  to the requirements of the Securities Exchange  Act  of
1934, the Registrant has duly caused this report to be signed  on
its behalf by the undersigned, thereunto duly authorized.




                             Dean Witter Principal Plus
                              Fund L.P. (Registrant)

                             By: Demeter Management Corporation
                                (General Partner)

May 12, 2000                 By: /s/  Lewis A. Raibley, III
                                      Lewis A. Raibley, III
                                         Director    and    Chief
Financial                                       Officer




The  General  Partner which signed the above is  the  only  party
authorized  to  act  for the Registrant.  The Registrant  has  no
principal   executive  officer,  principal   financial   officer,
controller, or principal accounting officer and has no  Board  of
Directors.