CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the  incorporation  by reference in this  Post-Effective
Amendment No. 52 to the  registration  statement on Form N-1A  ("Registration
Statement")  of our report dated June 19, 2001,  relating to the financial
statements  and financial  highlights which appear in the May 31, 2001 Annual
Report to Shareholders of T. Rowe Price New Income Fund, Inc.,  which are also
incorporated by reference into the  Registration  Statement.  We also consent
to the  references to us under the headings "Financial  Highlights" and
"Independent Accountants" in such Registration Statement.


/s/PRICEWATERHOUSECOOPERS LLP
PricewaterhouseCoopers LLP
Baltimore, Maryland
September 21, 2001