Deutsche Asset Management May 22, 2003 EDGAR Operations Branch Securities and Exchange Commission Division of Investment Management 450 Fifth Street, NW Washington, DC 20549 Re: BT Pyramid Mutual Funds (the "Registrant") File Nos. 33-45973 and 811-06576 Dear Sir or Madam: I am writing to withdraw the filing of the Registration Statement of the above-referenced Registrant on behalf of the PreservationPlus Fund (the "Fund"). Registrant, on behalf of the Fund, first filed on March 31, 2003 under Rule 485(a) Post-Effective Amendment No. 46 under the Securities Act of 1933 and Amendment No. 47 under the Investment Company Act of 1940 to the Registration Statement (Accession number: 0000950109-03-001946). Registrant has decided not to offer Class A and C shares of the Fund at this time and therefore requests the withdrawal pursuant to Rule 477(a) under the Securities Act of 1933. If you have any questions regarding this filing, please contact me at (410) 895-3883. Very truly yours, /s/ Bruce A. Rosenblum Bruce A. Rosenblum Assistant Secretary cc: Mr. John Grzeskiewicz