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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MX0bdKFpPLqH1hJ6utbY0YUduVE/kL7Y4m+glsjnuS3gbRuvgW0b6DGwH5zQpFxm
 UqrN0EUP1k6uuk+QhV3NZQ==

<SEC-DOCUMENT>0001225113-03-000021.txt : 20030514
<SEC-HEADER>0001225113-03-000021.hdr.sgml : 20030514
<ACCEPTANCE-DATETIME>20030514113530
ACCESSION NUMBER:		0001225113-03-000021
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030512
FILED AS OF DATE:		20030514

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROUSE COMPANY
		CENTRAL INDEX KEY:			0000085388
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		IRS NUMBER:				520735512
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		10275 LITTLE PATUXENT PKWY
		CITY:			COLUMBIA
		STATE:			MD
		ZIP:			21044-3456
		BUSINESS PHONE:		4109926000

	MAIL ADDRESS:	
		STREET 1:		10275 LITTLE PATUXENT PARKWAY
		CITY:			COLUMBIA
		STATE:			MD
		ZIP:			21044

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY RESEARCH & DEVELOPMENT INC
		DATE OF NAME CHANGE:	19660913

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DESAI ROHIT M
		CENTRAL INDEX KEY:			0000936870

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11543
		FILM NUMBER:		03697457

	BUSINESS ADDRESS:	
		STREET 1:		DESAI CAPITAL MANAGEMENT
		STREET 2:		410 PARK AVENUE, SUITE 830
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128389191

	MAIL ADDRESS:	
		STREET 1:		410 PARK AVENUE
		STREET 2:		SUITE 830
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType><periodOfReport>2003-05-12</periodOfReport>
<issuer><issuerCik>0000085388</issuerCik>
        <issuerName>ROUSE COMPANY</issuerName>
<issuerTradingSymbol>RSE</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0000936870</rptOwnerCik>
            <rptOwnerName>DESAI ROHIT M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeSecurity><securityTitle><value>Phantom Stock Units</value></securityTitle><conversionOrExercisePrice><value>0</value><footnoteId id="F1"/></conversionOrExercisePrice><transactionDate><value>2003-05-12</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>C</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F2"/></transactionCoding><transactionAmounts><transactionShares><value>3300</value></transactionShares><transactionValue><value>35.5895</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1988-08-08</value><footnoteId id="F3"/></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F3"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>C
ommon Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>3300</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>38357.993</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value></value></natureOfOwnership></ownershipNature></derivativeSecurity><footnotes><footnote id="F1">Phantom Stock Units convert to Common Stock on a one-for-one basis.</footnote><footnote id="F2">The Reporting Person transfered phantom shares of The Rouse Company Common Stock into other phantom investment options within his Deferred Compensation Account under The Rouse Company Deferred Compensation Plan for Outside Directors.</footnote><footnote id="F3">The Phantom Stock Units in the Reporting Person's Deferred Compensation Account under The Rouse Company Deferred Compensation Plan are to be settled in cash when the Reporting P
erson ceases to be a Director.</footnote></footnotes><ownerSignature><signatureName>Jeffrey C. Palkovitz, attorney-in-fact</signatureName><signatureDate>2003-05-14</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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