Release Details

T. Rowe Price Group Announces 2-for-1 Stock Split, Declares Quarterly Dividend

BALTIMORE (June 8, 2006) – T. Rowe Price Group, Inc. (Nasdaq: TROW) announced today that its Board of Directors has authorized a two-for-one split of its outstanding common stock payable on June 23, 2006 to stockholders of record at the close of business on June 19, 2006. On June 23, stockholders will be paid one additional share for each share owned as of the June 19 record date. Stockholders’ proportional interest in the Corporation will not be affected.

The Board of Directors also declared a quarterly dividend of $0.14 per share (reflecting the adjustment from $0.28 per share for the two-for-one stock split) which will be paid on July 11, 2006 to stockholders of record as of the close of business on June 26, 2006.

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $292.9 billion in assets under management as of March 31, 2006. The firm provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. More information is available at www.troweprice.com.