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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000773485-02-000008.txt : 20020607
<SEC-HEADER>0000773485-02-000008.hdr.sgml : 20020607
<ACCEPTANCE-DATETIME>20020604092733
ACCESSION NUMBER:		0000773485-02-000008
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20020604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRICE T ROWE NEW AMERICA GROWTH FUND
		CENTRAL INDEX KEY:			0000773485
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-99122
		FILM NUMBER:		02669475

	BUSINESS ADDRESS:	
		STREET 1:		100 E PRATT ST
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4105472000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRICE T ROWE COMMON STOCK FUND
		DATE OF NAME CHANGE:	19851003
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>nag52902.txt
<TEXT>
<PAGE>

T. Rowe Price New America Growth Fund

 Supplement to prospectus dated May 1, 2002
- --------------------------------------------------------------------------------
 Effective immediately, the Portfolio Management paragraph on page 18 of the
 prospectus is replaced with the following:

   Portfolio Management
   Effective May 29, 2002, Robert W. Smith became Chairman of New America
   Growth Fund's Investment Advisory Committee and assumed day-to-day
   responsibility for managing the fund. Marc L. Baylin stepped down as
   Chairman to pursue interests outside of T. Rowe Price, and we wish him well
   in his new endeavors. Mr. Smith has been a member of this fund's Investment
   Advisory Committee since April 2000. He has been has been an analyst and
   portfolio manager with T. Rowe Price since 1992 and has been managing
   investments since 1987.

   As of May 29, 2002, the fund's Investment Advisory Committee also consists
   of Brace C. Brooks, Giri Devulapally, Henry M. Ellenbogen, Christopher R.
   Leonard, Robert W. Sharps, and R. Candler Young.
- --------------------------------------------------------------------------------
 The date of this supplement is May 29, 2002.
- --------------------------------------------------------------------------------

 F60-041 5/29/02

</TEXT>
</DOCUMENT>
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