Company Press Release

BALTIMORE, June 30 -- T. Rowe Price (Nasdaq: TROW) has expanded its U.S. equity investment offerings by launching the U.S. Large-Cap Core Fund. The fund seeks long-term capital growth with moderate risk by investing in a concentrated portfolio across the spectrum of both value and growth large-cap domestic stocks. Individual investors can access the strategy through a no-load mutual fund or Advisor Class shares that are available through financial intermediaries.

The portfolio, constructed of 50 to 75 companies, selects the top picks of T. Rowe Price's deep pool of equity analyst talent. More than 30 analysts will contribute their best investment ideas based on a rigorous bottom-up approach that seeks to identify the most favorable combination of company fundamentals, earnings potential, and valuation. Normally, the fund will invest at least 80% of its net assets in the stocks of U.S. large-cap companies.

The U.S. Large-Cap Core Fund will be managed by Jeff Rottinghaus, who has developed a successful track record during his eight years with T. Rowe Price, both as an analyst and portfolio manager. After joining the firm as an analyst covering technology, Mr. Rottinghaus became the portfolio manager of the T. Rowe Price Global Technology Fund from 2006 - 2008.

While T. Rowe Price has been managing U.S. large-cap equity funds since the inception of its Growth Stock Fund in 1950 and managed $85 billion in U.S. large-cap equity assets as of March 31, 2009, this is the firm's first U.S. large-cap core offering. In addition to seeking the portfolio analysts' highest conviction investment ideas, Mr. Rottinghaus also is able to tap the expertise of 13 other large-cap and sector portfolio managers with a variety of specializations and an average of 15 years investment experience.

"Our flexible investment program allows us to concentrate our best U.S. large-cap stock picks into one convenient portfolio," Mr. Rottinghaus says. "We continually evaluate our investment thesis, relative valuation factors, qualitative and quantitative company assessments, and portfolio-level risk analysis to make the best investment selections."

The minimum initial investment in both the U.S. Large-Cap Core Fund (TRULX) and the U.S. Large-Cap Core Fund-Advisor Class (PAULX) is $2,500 or $1,000 for retirement plans or gifts or transfers to minors (UGMA/UTMA) accounts. For more information, please visit troweprice.com.

Large-cap stocks tend to be less volatile than the stocks of smaller companies, but earnings disappointments often result in sharp price declines. As the fund holds stocks with both growth and value characteristics, the share price may be negatively affected by both sets of risks. Poor performance by several fund holdings could affect fund performance more than a fund that holds a larger number of companies.

The fund's prospectus, which is available on the site or by calling 1-800-541-8803, 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, T. Rowe Price mutual funds.

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $268.8 billion in assets under management as of March 31, 2009. The organization 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 sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.


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