DISTRIBUTION AND SERVICE PLAN
FIDELITY NEWBURY STREET TRUST: TREASURY FUND
ADVISOR B CLASS

 1. This Distribution and Service Plan (the "Plan"), when effective in
accordance with its terms, shall be the written plan contemplated by
Securities and Exchange Commission Rule 12b-1 under the Investment
Company Act of 1940, as amended (the "Act") for Advisor B Class shares
of Treasury Fund ("Class B"), a class of shares of Treasury Fund (the
"Fund"), a series of Fidelity Newbury Street Trust (the "Trust").

 2. The Trust has entered into a General Distribution Agreement on
behalf of the Fund with Fidelity Distributors Corporation (the
"Distributor") under which the Distributor uses all reasonable
efforts, consistent with its other business, to secure purchasers of
the Fund's shares of beneficial interest (the "shares"). Such efforts
may include, but neither are required to include nor are limited to,
the following: (1) formulation and implementation of marketing and
promotional activities, such as mail promotions and television, radio,
newspaper, magazine and other mass media advertising; (2) preparation,
printing and distribution of sales literature; (3) preparation,
printing and distribution of prospectuses of the Fund and reports to
recipients other than existing shareholders of the Fund; (4) obtaining
such information, analyses and reports with respect to marketing and
promotional activities as the Distributor may, from time to time, deem
advisable; (5) making payments to securities dealers and others
engaged in the sale of shares or who engage in shareholder support
services ("Investment Professionals"); and (6) providing training,
marketing and support to Investment Professionals with respect to the
sale of shares.

 3. In accordance with such terms as the Trustees may, from time to
time establish, and in conjunction with its services under the General
Distribution Agreement with respect to shares of Advisor B Class
("Class B Shares"), the Distributor is hereby specifically authorized
to make payments to Investment Professionals in connection with the
sale of the Class B Shares. Such payments may be paid as a percentage
of the dollar amount of purchases of Class B Shares attributable to a
particular Investment Professional, or may take such other form as may
be approved by the Trustees.

 4. In consideration for the services provided and the expenses
incurred by the Distributor pursuant to the General Distribution
Agreement and to paragraphs 2 and 3 hereof, all with respect to Class
B Shares:

  (a) Class B shall pay to the Distributor a monthly distribution fee
at the annual rate of 0.75% (or such lesser amount as the Trustees
may, from time to time, determine) of the average daily net assets of
Class B throughout the month; provided that, for any period during
which the total of such fee and all other expenses of the fund (or of
Class B), would exceed the gross income of the Fund (or of Class B)
such fee shall be reduced by such excess. The determination of daily
net assets shall be made at the close of business each day throughout
the month and computed in the manner specified in the Fund's then
current Prospectus for the determination of the net asset value of
Class B Shares, but shall exclude assets attributable to any other
class of shares of the Fund. The Distributor may, but shall not be
required to, use all or any portion of the distribution fee received
pursuant to the Plan to compensate Investment Professionals who have
engaged in the sale of Class B Shares or in shareholder support
services with respect to Class B Shares pursuant to agreements with
the Distributor, or to pay any of the expenses associated with other
activities authorized under paragraphs 2 and 3 hereof; and

  (b) In addition, the Plan recognizes that the Distributor may, in
accordance with such terms as the Trustees may from time to time
establish, receive all or a portion of any sales charges, including
contingent deferred sales charges, which may be imposed upon the sale
or redemption of Class B Shares.

 5. Separate from any payments made as described in paragraph 4
hereof, Class B shall also pay to the Distributor a service fee at the
annual rate of 0.25% (or such lesser amount as the Trustees may, from
time to time, determine) of the average daily net assets of Class B
throughout the month. The determination of daily net assets shall be
made at the close of business each day throughout the month and
computed in the manner specified in the Fund's then current Prospectus
for the determination of the net asset value of Class B Shares, but
shall exclude assets attributable to any other class of shares of the
Fund. In accordance with such terms as the Trustees may from time to
time establish, the Distributor may use all [or a portion] of such
service fees to compensate Investment Professionals for personal
service and/or the maintenance of shareholder accounts or for other
services for which "service fees" lawfully may be paid in accordance
with applicable rules and regulations.

 6. The Fund presently pays, and will continue to pay, a management
fee to Fidelity Management & Research Company (the "Adviser") pursuant
to a management agreement between the Fund and the Adviser (the
"Management Contract"). It is recognized that the Adviser may use its
management fee revenue, as well as its past profits or its resources
from any other source, to make payment to the Distributor for expenses
incurred in connection with the distribution of Class B Shares,
including the activities referred to in paragraphs 2 and 3 hereof. To
the extent that the payment of management fees by the Fund to the
Adviser should be deemed to be indirect financing of any activity
primarily intended to result in the sale of Class B Shares within the
meaning of Rule 12b-1, then such payment shall be deemed to be
authorized by this Plan.

 7. This Plan shall become effective upon the first business day of
the month following approval by "a vote of at least a majority of the
outstanding voting securities" (as defined in the Act) of Class B,
this Plan having been approved by a vote of a majority of the Trustees
of the Trust, including a majority of Trustees who are not "interested
persons" of the Trust (as defined in the Act) and who have no direct
or indirect financial interest in the operation of the Plan or in any
agreement related to the Plan (the "Independent Trustees"), cast in
person at a meeting called for the purpose of voting on this Plan.

 8. This Plan shall, unless terminated as hereinafter provided, remain
in effect until April 30, 2000, and from year to year thereafter;
provided, however, that such continuance is subject to approval
annually by a vote of a majority of the Trustees of the Trust,
including a majority of the Independent Trustees, cast in person at a
meeting called for the purpose of voting on this Plan. This Plan may
be amended at any time by the Board of Trustees, provided that (a) any
amendment to increase materially the fee provided for in paragraphs 4
or 5 hereof shall be effective only upon approval by a vote of a
majority of the outstanding voting securities of Class B, and (b) any
material amendment of this Plan shall be effective only upon approval
in the manner provided in the first sentence of this paragraph 8.

 9. This Plan may be terminated at any time, without the payment of
any penalty, by vote of a majority of the Independent Trustees or by a
vote of a majority of the outstanding voting securities of Class B.

 10. During the existence of this Plan, the Trust shall require the
Adviser and/or the Distributor to provide the Trust, for review by the
Trustees, and the Trustees shall review, at least quarterly, a written
report of the amounts expended in connection with financing any
activity primarily intended to result in the sale of Class B Shares
(making estimates of such costs where necessary or desirable) and the
purposes for which such expenditures were made.

 11. This Plan does not require the Adviser or Distributor to perform
any specific type or level of distribution activities or to incur any
specific level of expenses for activities primarily intended to result
in the sale of Class B Shares.

 12. Consistent with the limitation of shareholder liability as set
forth in the Trust's Trust Instrument, any obligation assumed by Class
B pursuant to this Plan and any agreement related to this Plan shall
be limited in all cases to Class B and its assets and shall not
constitute an obligation of any shareholder of the Trust or of any
other class of the Fund, series of the Trust or class of such series.

 13. If any provision of this Plan shall be held or made invalid by a
court decision, statute, rule or otherwise, the remainder of the Plan
shall not be affected thereby.