Release Details

BALTIMORE (January 5, 2006) – T. Rowe Price has added two funds to its Advisor Class lineup, bringing the total number of funds that offer Advisor Class shares to 26. The latest funds to have Advisor Class shares are Dividend Growth Fund and New America Growth Fund. Advisor Class shares carry a 12b-1 fee of 0.25%, and can only be purchased through financial intermediaries.

“The new Advisor Class funds enable us to offer intermediaries a growing selection of diverse and competitive funds, while providing valuable additions to their asset allocation programs and continuing to meet their payment needs,” said John Cammack, head of Third Party Distribution for T. Rowe Price. “Since we launched our first Advisor Class shares in March 2000, the funds have been well received by advisors, broker dealers, banks, and other intermediaries, demonstrating the appeal of our solid risk-adjusted performance, consistent style discipline, and low portfolio turnover.”

Dividend Growth Fund employs a conservative, growth-at-a-discount investment strategy with an emphasis on dividend growth. There has been a steady rise in the number of companies that have increased their dividend or started paying one since the 2003 Tax Act, which lowered the tax rate on dividends to 15%. Also, companies that can grow their dividends often have some sustainable competitive advantage, which can help them withstand downturns in the economy. The fund is managed by Thomas J. Huber.

New America Growth Fund is a bottom-up growth strategy that invests predominantly in common stocks of U.S. companies in those sectors of the economy that are the fastest growing or have the greatest growth potential. The fund remains well diversified by sector and market cap with relatively higher mid- and small-cap exposure compared with many of its peers. The fund is managed by Joseph M. Milano. Diversification does not assure a profit or protect against loss in down markets.

Both funds are subject to market risk, and share prices may decline more than non-growth-oriented funds in down markets due to the higher valuations/lower yields of growth stocks.

Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a global investment management firm with $257.6 billion in assets under management as of September 30, 2005. The firm provides a broad array of mutual funds, sub-advisory services, and separate account management for financial intermediaries, retirement plans, and individual and institutional investors. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

For more information about any T. Rowe Price mutual fund, call 1-877-804-2315 to request a prospectus, which includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

T. Rowe Price Investment Services, Inc., distributor.