UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

1.   Name and address of issuer:

         Centennial Government Trust
         6803 South Tucson Way
         Englewood, CO  80112

2.       Name of each series or class of securities for which this Form is filed
         (If the Form is being filed for all series and classes of securities of
         the issuer, check the box but do not list series or classes):
         /X/

3.   Investment Company Act File Number: 811-3391

         Securities Act File Number:  2-75812
4(a). Last day of fiscal year for which this Form is filed: 6/30/98

4(b).    / / Check  box if this Form is being  filed  late  (i.e.,  more than 90
         calendar  days  after  the  end  of the  issuer's  fiscal  year).  (See
         instruction A.2) N/A

     Note:  If the  Form  is  being  filed  late,  interest  must be paid on the
registration fee due.

4(c) / / Check box if this is the last time the issuer will be filing this Form.
     N/A

5. Calculation of registration fee:

     (i) Aggregate sale price of securities sold during the fiscal year pursuant
     to section 24(f): $3,306,267,355

     (ii)Aggregate  price of securities redeemed or repurchase during the fiscal
     year: $3,201,418,918

     (iii) Aggregate  price of  securities  redeemed or  repurchased  during any
         prior fiscal year ending no earlier than October 11, 1995 that were not
         previously used to reduce  registration fees payable to the Commission:
         $-0-

     (iv)Total  available  redemption  credits  [add  items  5(ii)  and  5(iii):
     $3,201,418,918

     (v) Net sales - if Item 5(i) is  greater  than Item  5(iv)  [subtract  Item
     5(iv) from Item 5(i)]: $104,848,437





     (vi)Redemption credits available for use in future years -- if Item 5(i) is
     less than Item 5(iv) [subtract Item5(iv) from Item 5(i): $ -0-

     (vii)Multiplier  for determining  registration fee (See  Instruction  C.9):
     x.000295

     (viii)Registration  fee due [multiple  Item 5(v) by Item 5(vii)] (enter "0"
     if no fee is due): =$30,930

6.   Prepaid Shares

     If the  response  to item 5(i) was  determined  by  deducting  an amount of
     securities that were  registered  under the Securities Act of 1933 pursuant
     to rule 24e-2 as in effect before October 11, 1997,  then report the amount
     of  securities  (number of shares or other units)  deducted  here:  -0-. If
     there is a number of shares or other units that were registered pursuant to
     rule 24e-2  remaining  unsold at the end of the fiscal  year for which this
     form is filed that are  available  for use by the  issuer in future  fiscal
     years, then state that number here: -0-.

7.   Interest due  -0-

8. Total of the amount of the  registration  fee due plus any interest due [line
5(viii) plus line 7]: = $30,930

9.  Date  the  registration  fee  and  any  interest  payment  was  sent  to the
Commission's lockbox depository:

     Method of Delivery:    Wire transfer - Fed Wire #749


     SIGNATURES
This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.


/s/  George C. Bowen
By ______________________________________

     George C. Bowen, Vice President,
     Treasurer & Assistant Secretary



Date Sepgember 24, 1998

cc:      Allan Adams, Esq.
         Katherine P. Feld, Esq.