<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited condensed consolidated financial statements of T. Rowe Price
Associates, Inc. included in Part I Item 1 of the accompanying Form 10-Q
Quarterly Report for the period ended March 31, 1997 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000080255
<NAME> T. ROWE PRICE ASSOCIATES, INC.
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                     133,262,000
<SECURITIES>                               144,171,000
<RECEIVABLES>                               75,248,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                     108,674,000<F2>
<DEPRECIATION>                                       0<F3>
<TOTAL-ASSETS>                             504,102,000
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    11,566,000
<OTHER-SE>                                 352,022,000
<TOTAL-LIABILITY-AND-EQUITY>               504,102,000
<SALES>                                              0
<TOTAL-REVENUES>                           167,959,000
<CGS>                                                0
<TOTAL-COSTS>                              113,618,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                             54,341,000
<INCOME-TAX>                                21,124,000
<INCOME-CONTINUING>                         28,547,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                28,547,000
<EPS-PRIMARY>                                      .45
<EPS-DILUTED>                                        0
<FN>
<F1>Item is not contained in registrant's unclassified balance sheet.
<F2>Item is reported net of depreciation at interim.
<F3>Not reported at interim.
</FN>