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                                                 July 29, 2003


To the Trustees of Cash Assets Trust

     We consent to the incorporation by reference into post-effective amendment
No. 28 under the 1933 Act and No. 27 under the 1940 Act of our opinion dated
July 29, 1997.


                                Hollyer Brady Smith & Hines LLP



                                   /s/William L.D. Barrett
                                by__________________________
                                          Partner