N-30D 1 dn30d.txt T.ROWE PRICE TOTAL EQUITY MARKET INDEX FUND Annual Report - Financial Statements T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND DECEMBER 31, 2001 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- -------------------- FINANCIAL HIGHLIGHTS For a share outstanding throughout each period --------------------------------------------------------------------------------
Year 1/30/98 Ended Through 12/31/01 12/31/00 12/31/99 12/31/98 NET ASSET VALUE Beginning of period $ 13.02 $ 14.77 $ 12.19 $ 10.00 --------- --------- --------- -------- Investment activities Net investment income (loss) 0.11 0.12 0.12 0.11 Net realized and unrealized gain (loss) (1.57) (1.64) 2.69 2.20 --------- --------- --------- -------- Total from investment activities (1.46) (1.52) 2.81 2.31 --------- --------- --------- -------- Distributions Net investment income (0.11) (0.11) (0.11) (0.12) Net realized gain (0.01) (0.12) (0.12) -- --------- --------- --------- -------- Total distributions (0.12) (0.23) (0.23) (0.12) --------- --------- --------- -------- NET ASSET VALUE End of period $ 11.44 $ 13.02 $ 14.77 $ 12.19 --------- --------- --------- -------- Ratios/Supplemental Data Total return/\ (11.20)% (10.33)% 23.25% 23.19% --------- --------- --------- -------- Ratio of total expenses to average net assets 0.40% 0.40% 0.40% 0.40%+ --------- --------- --------- -------- Ratio of net investment income (loss) to average net assets 0.98% 0.85% 0.98% 1.33%+ --------- --------- --------- -------- Portfolio turnover rate 8.6% 7.6% 3.2% 1.9%+ --------- --------- --------- -------- Net assets, end of period (in thousands) $ 197,775 $ 206,058 $ 199,427 $ 61,210 --------- --------- --------- --------
/\ Total return reflects the rate that an investor would have earned on an investment in the fund during the period, assuming reinvestment of all distributions and payment of no redemption or account fees. + Annualized The accompanying notes are an integral part of these financial statements. 2 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ December 31, 2001
------------------------- PORTFOLIO OF INVESTMENTS Shares/Par Value ------------------------------------------------------------------------------ In thousands COMMON STOCKS 98.5% CONSUMER DISCRETIONARY 14.1% Auto Components 0.3% Delphi Automotive Systems 9,614 $ 132 Johnson Controls 1,400 113 TRW 1,800 67 Goodyear Tire & Rubber (S) 2,100 50 Lear * 1,300 49 Visteon 2,286 34 Gentex * 1,200 32 Cooper Tire 1,800 29 Bandag 800 28 Dana 2,000 28 Arvinmeritor 1,300 25 Modine Manufacturing 1,000 23 WABTEC 1,225 15 American Axle & Manufacturing * 700 15 Tower Automotive *(S) 1,400 13 Standard Motor Products (Class A)(S) 700 10 Shiloh Industries * 1,700 3 Gentek 1,800 3 Tenneco Automotive * 440 1 Federal-Mogul *(S) 1,000 1 ---------- 671 ---------- Automobiles 0.6% Ford Motor 28,361 446 GM 8,352 406 Harley-Davidson 4,600 249 Winnebago 700 26 ---------- 1,127 ---------- Distributors 0.0% Handleman * 1,100 17 Applied Industrial Technologies 600 11 ---------- 28 ---------- Hotels, Restaurants & Leisure 1.2% McDonald's 20,000 529 Carnival 8,900 250
3 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------
Shares/Par Value ------------------------------------------------------------------------------ In thousands Marriott (Class A) 3,800 $ 154 Tricon Global Restaurants * 2,400 118 Starbucks *(S) 5,700 109 Starwood Hotels & Resorts Worldwide, REIT (Class B) 3,200 96 International Game Technology * 1,200 82 MGM Grand *(S) 2,600 75 Harrah's Entertainment * 2,000 74 Darden Restaurants 2,000 71 Wendys 2,000 58 Hilton 5,272 58 Brinker * 1,750 52 Applebee's 1,450 50 Royal Caribbean Cruises (S) 2,800 45 Park Place Entertainment * 4,700 43 Cedar Fair L. P. * 1,500 37 Bob Evans Farms 1,500 37 Outback Steakhouse * 1,000 34 Krispy Kreme *(S) 700 31 Papa John's *(S) 1,100 30 Argosy Gaming * 900 29 International Speedway (Class A) 700 27 PF Chang's China Bistro *(S) 500 24 GTECH * 500 23 Gaylord Entertainment * 900 22 WMS Industries * 1,100 22 Ryan's Family Steak Houses * 1,000 22 Extended Stay America * 1,300 21 The Cheesecake Factory * 600 21 John Q. Hammons Hotels (Class A) * 3,600 21 Ruby Tuesday 1,000 21 Speedway Motorsports *(S) 700 18 MTR Gaming *(S) 1,100 18 Mandalay Resort *(S) 800 17 Multimedia Games * 400 15 Black Hawk Gaming * 1,300 14 Six Flags * 800 12 Triarc Companies (Class A) * 500 12 Landry's Seafood Restaurant 600 11
4 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Prime Hospitality * 900 $ 10 Boca Resorts (Class A) * 700 9 Morton's Restaurant * 700 8 -------- 2,430 -------- Household Durables 0.6% Newell Rubbermaid 4,176 115 Fortune Brands 2,200 87 Whirlpool 900 66 Centex 1,100 63 Leggett & Platt 2,700 62 Stanley Works 1,300 61 Mohawk Industries *(S) 1,000 55 Black & Decker 1,300 49 D. R. Horton (S) 1,320 43 Lennar 900 42 NVR * 200 41 KB Home 1,000 40 Snap-On 1,100 37 Clayton Homes 2,000 34 Maytag 1,100 34 Furniture Brands * 1,000 32 Pulte 700 31 Kimball (Class B) 1,900 29 Harman 600 27 Toll Brothers *(S) 600 26 Ryland 300 22 Russ Berrie 700 21 American Greetings (Class A) 1,500 21 Matthews (Class A) 800 20 Hovnanian Enterprises (Class A) *(S) 900 19 Lancaster Colony 500 18 Tupperware 900 17 Blyth Industries 700 16 Skyline, REIT 500 16 Topps * 1,300 16 Meritage * 300 16 La-Z Boy 700 15 Knape & Vogt Manufacturing 1,100 14 5 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------------
Shares/Par Value ---------------------------------------------------------------------------------------- In thousands Interface (Class A) 2,200 $ 12 Stanley Furniture * 500 12 American Biltrite 800 11 Fleetwood (S) 900 10 The Boyds Collection * 1,300 9 WestPoint Stevens (S) 1,100 3 Tripath Technology *(S) 1,200 2 ------------ 1,264 ------------ Internet & Catalog Retail 0.2% e-Bay * 4,000 268 Amazon.com *(S) 4,900 53 Lands' End * 500 25 Insight Enterprises * 950 23 Ticketmaster Online-CitySearch (Class B) *(S) 1,100 18 ValueVision (Class A) * 900 18 priceline.com * 2,800 16 Spiegel (Class A) 3,500 16 J.Jill * 600 13 Student Advantage *(S) 1,400 2 Stamps.com * 400 1 ------------ 453 ------------ Leisure Equipment & Products 0.3% Eastman Kodakss. 4,800 141 Mattel 6,900 119 Hasbro 2,500 41 Action Performance COS *(S) 1,100 34 Brunswick 1,200 26 SCP Pool * 925 26 Direct Focus *(S) 775 24 Polaris Industries 400 23 Callaway Golf 1,200 23 Oakley *(S) 800 13 Midway Games *(S) 739 11 Rawlings Sporting Goods * 3,100 9 Arctic Cat 400 7 Meade Instruments * 1,200 4 Concord Camera * 400 3 ------------ 504 ------------
6 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Media 4.8% AOL Time Warner * 67,720 $ 2,174 Viacom (Class B) * 26,558 1,173 Disney 31,500 653 Comcast (Class A Special) * 14,680 529 Liberty Media (Series A) * 35,500 497 Clear Channel Communications * 8,521 434 Cox Communications (Class A) * 8,300 348 Gannett 3,900 262 Omnicom 2,600 232 Gemstar TV Guide * 6,600 183 Hughes Electronics (Class H) * 11,792 182 Tribune 4,622 173 McGraw-Hill 2,700 165 Interpublic 5,412 160 Univision Communications (Class A) *(S) 3,300 133 USA Networks * 4,500 123 New York Times (Class A) 2,400 104 Fox Entertainment (Class A) * 3,600 95 Cablevision Systems (Class A) *(S) 2,000 95 EchoStar Communications (Class A) * 3,400 93 Dow Jones 1,400 77 Washington Post (Class B) 140 74 Scripps (Class A) 1,100 73 Metro Goldwyn Mayer * 3,200 70 Adelphia Communications (Class A) *(S) 2,134 67 Knight-Ridder 1,000 65 TMP Worldwide *(S) 1,500 64 Charter Communications (Class A) * 3,700 61 Lamar Advertising (Class A) *(S) 1,300 55 Westwood One * 1,600 48 Pixar *(S) 1,200 43 Harte-Hanks 1,500 42 Scholastic * 800 40 Entercom Communications * 800 40 Hispanic Broadcasting * 1,500 38 McClatchy (Class A) 700 33 Reader's Digest (Class A) 1,400 32 7 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Belo (Series A) 1,700 $ 32 Catalina Marketing * 800 28 Mediacom Communications (Class A) * 1,500 27 R.H. Donnelley * 940 27 Cox Radio (Class A) * 1,000 25 Meredith 700 25 Macrovision *(S) 700 25 Hollinger (Class A) (S) 2,000 23 ADVO * 500 21 Liberty 500 21 Nelson Thomas 1,800 20 Grey Advertising 30 20 Insight Communications (Class A) * 800 19 John Wiley & Son (Class A) 800 18 Entravision Communications * 1,500 18 TiVo *(S) 2,700 18 Hearst-Argyle Television * 800 17 Getty Images * 700 16 PRIMEDIA * 3,670 16 AMC Entertainment * 1,300 16 Media General (Class A) 300 15 Martha Stewart Living (Class A) *(S) 900 15 Radio One (Class A) * 800 15 Spanish Broadcasting (Class A) * 1,500 14 Emmis Communications (Class A) *(S) 600 14 Interactive Data 1,000 14 Cumulus Media (Class A) * 800 13 Journal Register * 600 13 4Kids Entertainment *(S) 600 12 Information * 400 11 Regent Communications * 1,600 11 Ackerley *(S) 600 10 Gray Communications Systems (Class A) 1,000 10 Penton Media (S) 1,400 9 Paxson Communications *(S) 800 8 Gray Communications Systems (Class B) (S) 600 8 Pegasus Communications (Class A) *(S) 800 8 Franklin Electric * 4,800 7 8 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Unitedglobalcom (Class A) *(S) 1,200 $ 6 Granite Broadcasting *(S) 2,400 5 Key3Media * 900 5 Young Broadcasting (Class A) * 200 4 NTL *(S) 3,762 4 Point.360 * 2,400 3 Liberty Digital (Class A) * 800 3 Radio Unica Communications * 2,000 3 ACTV *(S) 900 2 Big City Radio (Class A) * 1,500 2 Wink Communications * 1,000 2 Liberty Satellite (Class A) *(S) 1,500 1 ------ 9,409 ------ Multiline Retail 3.2% Wal-Mart 68,100 3,919 Target 13,600 558 Kohl's * 5,200 366 Costco Wholesale * 6,400 284 Sears 4,900 233 May Department Stores 4,650 172 Federated Department Stores * 3,200 131 J.C. Penney 3,800 102 Family Dollar Stores 2,800 84 Dollar General 4,850 72 Dollar Tree Stores * 1,800 56 BJ's Wholesale Club * 1,200 53 Kmart *(S) 7,600 42 Nordstrom 2,000 41 99 Cents Only Stores * 750 29 Neiman Marcus (Class A) * 900 28 Tuesday Morning *(S) 1,500 27 Dillards (Class A) 1,200 19 Saks * 1,975 18 Big Lots 1,700 18 Shopko Stores * 1,200 11 Factory 2-U Stores * 400 8 Value City Department Stores * 1,600 8 ------ 6,279 ------ 9 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Specialty Retail 2.6% Home Depot 35,850 $ 1,829 Lowes 11,900 552 Best Buy * 3,100 231 TJX 4,600 183 Gap 12,950 180 Bed Bath & Beyond * 4,500 153 Staples * 7,350 137 AutoZone * 1,800 129 Intimate Brands (Class A) (S) 6,850 102 The Limited 6,100 90 Circuit City Stores 3,300 86 Office Depot * 4,400 82 Radio Shack 2,700 81 Tiffany 2,400 76 CDW Computer Centers * 1,400 75 Autonation * 5,000 62 Sherwin-Williams 2,200 60 Toys "R" Us * 2,800 58 Copart * 1,300 47 Abercrombie & Fitch (Class A) * 1,516 40 Williams-Sonoma *(S) 900 39 Ross Stores 1,200 38 O'Reilly Automotive * 1,000 37 Foot Locker * 2,200 34 Talbots (S) 900 33 Barnes & Noble * 1,100 33 American Eagle Outfitters *(S) 1,150 30 Deb Shops 1,100 27 Michaels Stores * 800 26 Footstar *(S) 800 25 Gymboree *(S) 2,000 24 Payless Shoesource * 402 23 Pier 1 Imports 1,300 23 Borders * 1,100 22 AnnTaylor Stores * 600 21 Zale * 500 21 United Rentals *(S) 900 20 10 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Burlington Coat Factory 1,200 $ 20 CSK Auto *(S) 1,900 19 Linens `n Things * 700 18 West Marine * 1,200 18 Group One Automotive * 600 17 PC Connection * 1,150 17 Men's Wearhouse *(S) 800 16 Jo-Ann Stores (Class A) * 2,200 16 Claire's Stores 1,000 15 Goody's Family Clothing * 3,500 15 Software Spectrum * 900 14 Cost Plus *(S) 500 13 Too * 457 13 Gadzooks *(S) 900 12 Electronics Boutique * 300 12 Ultimate Electronics * 400 12 Hollywood Entertainment *(S) 800 11 United Retail * 1,500 11 bebe stores * 600 11 Rent-A-Center * 300 10 Guitar Center * 700 9 Tweeter Home Entertainment * 300 9 Genesco *(S) 300 6 OfficeMax * 1,300 6 ------- 5,049 ------- Textiles & Apparel 0.3% NIKE (Class B) 4,000 225 V. F. 1,600 62 Jones Apparel * 1,600 53 Liz Claiborne 900 45 Columbia Sportswear * 900 30 Polo Ralph Lauren (Class A) * 1,100 30 Kellwood (S) 1,100 26 Reebok * 900 24 Coach * 600 23 Timberland (Class A) *(S) 600 22 K-Swiss (Class A) 600 20 Rocky Shoes & Boots * 3,300 19 11 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Movado 1,000 $ 19 Russell 1,000 15 Tarrant Apparel *(S) 2,400 13 Culp * 2,600 10 Unifi *(S) 1,300 9 Vans * 600 8 Uniroyal Technology * 500 2 Polymer (S) 1,600 1 ------- 656 ------- Total Consumer Discretionary 27,870 ------- CONSUMER STAPLES 7.1% Beverages 2.1% Coca-Cola 38,000 1,792 PepsiCo 26,470 1,289 Anheuser-Busch 13,100 592 Coca-Cola Enterprises 6,000 114 Pepsi Bottling 4,800 113 Brown-Forman (Class B) 900 56 PepsiAmericas 2,600 36 Constellation Brands (Class A) * 800 34 Coors (Class B) 500 27 Robert Mondavi (Class A) *(S) 400 15 Todhunter * 1,100 10 Hansen Natural * 2,000 8 ------- 4,086 ------- Food & Drug Retailing 1.0% Walgreen 15,900 535 Safeway * 7,400 309 Kroger * 12,400 259 Sysco 9,800 257 Albertson's 6,390 201 CVS 5,800 172 Supervalu 1,800 40 Whole Foods Market * 900 39 Great Atlantic & Pacific Tea * 1,500 36 Winn-Dixie 2,400 34 12 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Performance Food * 800 $ 28 Rite Aid *(S) 5,100 26 Weis Markets 800 22 Duane Reade * 600 18 Ruddick 1,100 18 United Natural Foods * 700 17 Longs Drug Stores (S) 600 14 Fleming Companies (S) 600 11 -------- 2,036 -------- Food Products 1.3% General Mills 5,500 286 Sara Lee 12,000 267 Heinz 4,900 201 ConAgra 7,808 186 Kellogg 6,000 181 Campbell 5,900 176 Wrigley 3,200 164 Kraft Foods (Class A) 4,100 140 Archer-Daniels-Midland 9,172 132 Hershey Foods 1,900 129 Tyson Foods (Class A) 4,754 55 Hormel Foods 1,900 51 Smithfield Foods * 1,900 42 McCormick 900 38 Dean Foods *(S) 543 37 Fresh Del Monte Produce * 2,000 30 Corn Products 800 28 Hain Celestial *(S) 1,000 27 Delta Pine & Land 1,200 27 Alico 800 25 Ralcorp * 1,100 25 Horizon Organic *(S) 1,500 25 Tootsie Roll Industries 618 24 American Italian Pasta (Class A) * 500 21 Del Monte Foods * 2,400 20 Dole Foods 700 19 Sensient Technologies 900 19 Lance 1,300 19 13 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Galaxy Nutritional Foods *(S) 2,900 $ 16 Aurora Foods * 3,000 15 Interstate Bakeries 600 14 Pilgrims Pride(S) 900 12 M & F Worldwide * 2,600 11 Tasty Baking 600 11 Suprema Specialties * 800 10 Flowers Foods * 260 10 International Multifoods * 400 10 --------------- 2,503 --------------- Household Products 1.3% Procter & Gamble 19,800 1,567 Colgate-Palmolive 8,400 485 Kimberly-Clark 7,800 466 Clorox 3,400 135 Dial 1,600 27 --------------- 2,680 --------------- Personal Products 0.5% Gillette 16,100 538 Avon 3,700 172 Estee Lauder (Class A) 1,500 48 Alberto Culver (Class B)(S) 900 40 Playtex Products * 1,900 19 Elizabeth Arden * 1,100 17 Del Laboratories 1,050 16 Nu Skin Asia Pacific (Class A) 1,500 13 NBTY * 1,100 13 Herbalife (Class A)(S) 900 12 Water Pik Tech * 1,305 11 Revlon (Class A) *(S) 1,300 9 --------------- 908 --------------- Tobacco 0.9% Philip Morris 33,300 1,527 UST 2,500 87 R.J. Reynolds Tobacco 1,333 75 Schweitzer-Mauduit 1,000 24 DiMon 2,700 19 14 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Vector (S) 585 $ 19 Universal Corporation 400 15 ------------ 1,766 ------------ Total Consumer Staples 13,979 ------------ ENERGY 5.2% Energy Equipment & Services 1.0% Schlumberger 8,372 460 Baker Hughes 5,300 193 Transocean Sedco Forex 4,325 146 GlobalSantaFe 3,996 114 BJ Services * 2,600 84 Halliburton 6,400 84 Nabors Industries * 2,230 77 Diamond Offshore Drilling 2,300 70 Noble Drilling * 2,000 68 Weatherford * 1,700 63 ENSCO (S) 2,000 50 Smith * 700 38 Buckeye Partners * 900 34 Patterson-UTI Energy * 1,400 33 Tidewater 900 31 Oceaneering * 1,300 29 Pride * 1,800 27 Rowan * 1,400 27 Plains All American Pipeline 900 23 Hanover Compressor * (S) 900 23 National Oilwell * 1,100 23 Superior Energy * 2,600 22 Newpark Resources * 2,700 21 Cooper Cameron * 500 20 Varco * 1,253 19 Universal Compression * 600 18 Atwood Oceanics * 500 17 Grant Prideco * 1,500 17 Helmerich & Payne 500 17 Key Energy Services * 1,700 16 15 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------- In thousands Veritas DGC * (S) 700 $ 13 Offshore Logistics * 700 12 FMC Technologies * (S) 600 10 Input/Output * 1,200 10 Global Industries * 1,100 10 W-H Energy Services * 500 9 Carbo Ceramics 200 8 Parker Drilling * 2,100 8 Unit * 500 6 TETRA Technologies * (S) 300 6 Oil States * 600 5 Trico Marine Services * 500 4 Friede Goldman * 2,800 1 ------------ 1,966 ------------ Oil & Gas 4.2% Exxon Mobil 104,562 4,109 ChevronTexaco 16,314 1,462 Phillips Petroleum 5,640 340 Conoco 9,537 270 Anadarko Petroleum 3,629 206 Occidental Petroleum 5,900 157 Marathon Oil 5,100 153 Unocal 3,900 141 Burlington Resources 3,500 131 Apache 1,970 98 Amerada Hess 1,400 88 Kerr-McGee 1,561 86 EOG Resources 1,900 74 Devon Energy (S) 1,850 72 Ultramar Diamond Shamrock 1,300 64 Ocean Energy 2,800 54 Murphy Oil (S) 600 50 Ashland 1,000 46 Valero Energy (S) 1,200 46 Sunoco 1,200 45 Mitchell Energy & Development (Class A) 700 37 XTO Energy 2,100 37 Noble Affiliates 900 32 Stone Energy * 800 32 16 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Equitable Resources 900 $ 31 Pioneer Natural Resources * 1,500 29 Newfield Exploration * 800 28 Westport Resources * (S) 1,590 28 Enterprise Products Partners 500 24 Western Gas Resources (S) 700 23 Forest Oil * 800 23 Tom Brown * 800 22 Pennzoil-Quaker State 1,400 20 Houston Exploration * 600 20 Hugoton Royalty Trust, REIT (S) 1,900 19 Pogo Producing (S) 700 18 Teppco Partners 600 18 Spinnaker Exploration * 400 16 Resource America 1,725 16 Chesapeake Energy * 2,408 16 Vintage Petroleum 1,100 16 Pure Resources * 700 14 Penn Virginia 400 14 Quicksilver Resources * 700 13 Tesoro Petroleum * 1,000 13 Magnum Hunter Resources * (S) 1,500 12 Denbury Resources * 1,700 12 Plains Resources * 500 12 Cabot Oil & Gas (Class A) 500 12 Petroleum Development * 1,800 11 Remington Oil & Gas * (S) 600 10 Beta Oil & Gas * 2,100 10 Syntroleum * 1,400 10 Patina Oil & Gas 300 8 Prima Energy * 300 7 Nuevo Energy * 400 6 KCS Energy * (S) 1,800 6 EEX * 2,433 4 BP Prudhoe Bay Royalty Trust (S) 300 4 Penn Octane * 400 1 ------------ 8,376 ------------ Total Energy 10,342 ------------ 17 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------ In thousands FINANCIALS 19.4% Banks 6.4% Bank of America 23,929 $ 1,506 Wells Fargo 25,752 1,119 Bank One 17,736 693 Wachovia 20,848 654 U.S. Bancorp 28,755 602 FleetBoston Financial 16,138 589 Fifth Third Bancorp 8,936 548 Washington Mutual 13,319 436 Bank of New York 10,600 432 Mellon Financial 7,200 271 SunTrust 4,268 268 National City 8,840 258 PNC Financial Services 4,300 242 BB&T 6,585 238 Northern Trust 3,400 205 KeyCorp 6,300 153 Comerica 2,600 149 Golden West Financial 2,300 135 SouthTrust 5,300 130 Marshall & Ilsley 1,789 113 Synovus Financial 4,300 108 AmSouth 5,567 105 Union Planters 2,200 99 Regions Financial 3,100 93 Charter One Financial 3,355 91 M&T Bank 1,200 87 North Fork Bancorporation (S) 2,700 86 UnionBancal (S) 2,200 84 National Commerce Financial 2,950 75 Zions Bancorp 1,200 63 First Tennessee National 1,700 62 Dime Bancorp 1,700 61 Huntington Bancshares 3,466 60 Popular 2,000 58 TCF Financial 1,200 58 18 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Greenpoint Financial 1,500 $ 54 Banknorth 2,354 53 Hibernia (Class A) 2,900 52 Golden Sate Bancorp 1,900 50 Compass Bancshares 1,700 48 Sovereign Bancorp 3,720 46 Mercantile Bankshares 1,000 43 Valley National Bancorp 1,227 40 Commerce Bancorp 1,000 39 Staten Island Bancorp 2,400 39 Commerce Bancshares 920 36 Astoria Financial 1,350 36 First Virginia Banks 700 36 Associated Banc 1,000 35 Hudson United Bancorp 1,170 34 Investor's Financial Services 500 33 Downey Financial (S) 800 33 FirstMerit 1,200 33 BOK Financial 1,025 32 St. Francis Capital 1,400 32 Independence Community Bank 1,400 32 Webster Financial 1,000 32 FSF Financial 1,800 32 Community First Bankshares 1,200 31 Commercial Federal 1,300 31 Wintrust Financial 1,000 31 IBERIABANK 1,100 30 Provident Bankshares 1,199 29 Washington Federal 1,133 29 AMCORE 1,300 29 Pacific Century Financial 1,100 28 City National 600 28 Pacific Capital Bancorp 1,000 28 First Financial Bancorp 1,470 26 F.N.B. (S) 982 26 Unity Bancorp * 4,000 26 IndyMac Mortgage * 1,100 26 New York Community Bancorp 1,118 26 19 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Wilmington Trust 400 $ 25 Santander Bancorp 1,300 25 Fulton Financial 1,150 25 Capitol Federal Financial (S) 1,200 25 Waypoint Financial 1,653 25 Silicon Valley Bancshares * 900 24 UMB Financial 598 24 Hudson City Bancorp 900 24 Area Bancshares 1,200 23 WesBanco (S) 1,100 23 United Bankshares 800 23 Abington Bancorp 1,500 22 Sky Financial 1,100 22 First Midwest Bancorp 750 22 Trustmark 900 22 Community Bankshares of Indiana 1,400 22 Cullen/Frost Bankers 700 22 Roslyn Bancorp 1,200 21 MAF Bancorp 700 21 B&L Financial 1,600 20 First Niagara Financial 1,200 20 Integra Bank 971 20 Old National Bancorp 787 20 UCBH 700 20 WestAmerica 500 20 Sandy Spring Bancorp 600 19 Resource Bancshares Mortgage 1,600 18 Hancock 400 17 Community Banks 635 17 People's Bank 800 17 First Essex Bancorp 600 17 Citizens Banking 500 16 CVB Financial 700 16 South Financial 900 16 Southwest Bancorp 900 16 Provident Financial (S) 600 16 Colonial BancGroup 1,100 15 FirstFed Financial * 600 15 20 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands U.S.Bancorp 900 $ 15 Finger Lakes Financials 1,400 15 Susquehanna Bancshares 700 15 Sun Community Bancorp * 1,500 15 Greater Bay Bancorp (S) 500 14 Fidelity National 1,900 14 Seacoast Banking (Class A) 300 14 Whitney 300 13 Frontier Financial (S) 500 13 International Bancshares 300 13 Three Rivers Bancorp 1,000 12 Troy Financial 500 12 Southwest Bancorp *(S) 400 12 Gold Banc 1,700 12 United National Bancorp 500 12 Irwin Financial (S) 700 12 First Charter (S) 700 12 Financial Institutions 500 12 NBT Bancorp 800 12 FirstBank Puerto Rico 400 11 Mid State Bancshares 700 11 Bay View Capital * 1,500 11 Republic Bancorp 770 11 VIB 1,133 11 Oregon Trail Financial 600 11 Chittenden 375 10 Berkshire Hills Bancorp 500 10 Community Capital 900 10 Gulf West Banks 1,050 10 Yardville National Bancorp 800 10 Brookline Bancorp 600 10 OceanFirst Financial 400 10 Sterling Bancorp 330 10 Metrocorp Bancshares 900 10 Harleysville National Corporation Pennsylvania 400 9 Merrill Merchants Bancshares 830 9 Metrobancorp 1,200 9 First City Bank 1,100 9 21 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Hmn Financial 600 $ 9 BWC Financial 440 9 Prestige Bancorp 1,008 9 Flushing Financial 500 9 Eagle Bancshares 600 9 GBC Bancorp 300 9 Union Bankshares * 800 8 East West Bancorp 300 8 Texas Regional Bancshares (Class A)(S) 200 8 CNB Florida Bancshares 700 7 1st Source 330 7 Boston Private Financial 300 7 Bankatlantic Bancorp (Class A) 700 6 Omega Financial 200 6 Cathay Bancorp 100 6 Independent Bank 210 6 United Community Financial 800 6 Sterling Bancshares 450 6 German American Bancorp 315 5 Trust Company of New Jersey 200 5 Net Bank *(S) 300 3 Community Bank System 100 3 ---------------- 12,622 ---------------- Diversified Financials 6.7% Citigroup 78,698 3,973 Fannie Mae 15,400 1,224 J.P. Morgan Chase 29,910 1,087 Morgan Stanley Dean Witter 16,500 923 American Express 20,300 725 Freddie Mac 10,500 687 Merrill Lynch 12,800 667 MBNA 12,750 449 Household 6,813 395 Charles Schwab 20,906 323 Goldman Sachs 2,900 269 State Street 5,000 261 Lehman Brothers 3,900 261 USA Education 2,300 193 22 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------- Shares/Par Value ------------------------------------------------------------------------- In thousands Capital One Financial 3,000 $ 162 Franklin Resources 4,300 152 Moody's 2,400 96 Bear Stearns 1,627 95 Stilwell Financial 3,500 95 AMBAC 1,450 84 SEI 1,600 72 Countrywide Credit 1,700 70 Federated Investors (Class B) 2,150 69 A.G. Edwards 1,400 62 Neuberger Berman 1,250 55 Alliance Capital 1,100 53 E *TRADE * 5,100 52 Legg Mason 1,000 50 AmeriCredit *(S) 1,300 41 Student Loan 500 40 Allied Capital 1,500 39 LaBranche & Co. *(S) 1,100 38 John Nuveen (Class A) 700 37 Waddell & Reed Financial (Class A) 1,151 37 Eaton Vance 1,000 36 Raymond James Financial 900 32 Affiliated Managers *(S) 400 28 Phoenix Companies * 1,500 28 Metris Companies (S) 1,000 26 Walter Industries 2,100 24 PMC Capital 3,300 23 Knight Trading * 2,100 23 Leucadia National 800 23 CompuCredit * 1,800 21 Doral Financial 600 19 American Capital Strategies 600 17 AmeriTrade (Class A) * 2,600 15 Providian Financial 4,100 15 WFS Financial * 600 14 Medallion Financial 1,700 13 Jeffries (S) 300 13 Credit Acceptance * 1,400 12 23 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Stifel Financial 1,000 $ 10 ADVANTA (Class A)(S) 1,055 10 World Acceptance * 900 7 Instinet *(S) 600 6 Actrade *(S) 200 6 eSpeed (Class A) *(S) 400 3 Soundview Technology * 1,000 2 Hamilton Bancorp * 500 1 NextCard *(S) 1,000 1 -------------- 13,264 -------------- Insurance 5.1% American 39,918 3,169 Berkshire Hathaway (Class A) * 23 1,739 Marsh & McLennan 4,050 435 Allstate 11,000 371 MetLife 11,300 358 Prudential Financial 7,800 259 Hartford Financial Services 3,500 220 AFLAC 7,800 192 John Hancock Financial Services 4,500 186 Chubb 2,600 179 Progressive 1,150 172 Loews 3,100 172 Lincoln National 2,900 141 St. Paul Companies 3,200 141 Aon 3,950 140 MBIA 2,300 123 Principal Financial *(S) 4,700 113 Jefferson Pilot 2,300 106 UNUMProvident 3,576 95 MGIC Investment 1,500 93 Cincinnati Financial 2,300 88 CNA Financial * 2,900 85 Transatlantic 750 68 Torchmark 1,700 67 SAFECO 2,000 62 Radian 1,300 56 Old Republic 1,600 45 24 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands Arthur J. Gallagher 1,200 $ 41 PMI 600 40 Unitrin 1,000 39 Erie Indemnity (Class A) 1,000 38 White Mountains Insurance 100 35 Protective Life 1,200 35 American National Insurance 400 34 Wesco Financial 100 31 Allmerica Financial 700 31 Arch Capital * 1,200 31 Mercury General 700 31 Alleghany 150 29 Hilb Rogal and Hamilton 500 28 Fidelity National Financial 1,100 27 21st Century Insurance (S) 1,400 27 W. R. Berkley 500 27 Great American Financial Resources 1,400 26 HCC Insurance 900 25 MONY 700 24 Conseco * (S) 5,200 23 Presidential Life 1,100 23 Zenith National 800 22 First American Financial 1,185 22 American Financial 900 22 Alfa 900 20 Brown and Brown 700 19 FBL Financial (Class A) 1,132 19 Commerce Group 500 19 RLI 400 18 Markel * 100 18 Acceptance Insurance * 3,300 17 Reinsurance Group of America (S) 500 17 Fremont General 2,100 16 Horace Mann Educators 700 15 FPIC Insurance * (S) 1,000 15 SCPIE 500 15 Stancorp Financial 300 14 Financial Industries 990 13 25 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Delphi Financial (S) 400 $ 13 Midland 300 13 Baldwin & Lyons (Class B) 500 13 Ohio Casualty * 800 13 UICI * 900 12 LandAmerica Financial 400 11 National Western Life (Class A) * 100 11 United Trust * 1,400 11 Triad Guaranty * 300 11 APCapital 500 11 AmerUs Life 300 11 Capitol Transamerica (S) 600 10 Vesta Insurance 1,200 10 United Fire & Casualty 300 9 ProAssurance * 424 7 Citizens Financial * 500 4 ------------ 9,991 ------------ Real Estate 1.2% Equity Office Properties, REIT 6,861 206 Equity Residential Properties Trust, REIT 4,600 132 Public Storage, REIT 2,200 74 Simon Property, REIT 2,500 73 Vornado Realty Trust, REIT 1,700 71 Avalonbay Communities, REIT 1,307 62 Archstone Smith Trust 2,300 61 ProLogis Trust, REIT 2,800 60 Kimco Realty, REIT 1,650 54 Apartment Investment & Management, REIT (Class A) 1,100 50 AMB Property, REIT 1,800 47 Duke-Weeks Realty, REIT 1,900 46 Camden Property Trust, REIT 1,200 44 Rouse, REIT 1,500 44 IStar Financial 1,717 43 General Growth Properties, REIT 1,100 43 CarrAmerica Realty, REIT 1,400 42 Health Care Property Investors 1,100 40 Arden Realty, REIT 1,500 40 Hospitality Properties Trust, REIT 1,300 38 26 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Trendwest Resorts *(S) 1,500 $ 38 New Plan Excel Realty 2,000 38 Crescent Real Estate Equities, REIT 2,100 38 Boston Properties, REIT 1,000 38 Host Marriott 4,200 38 Highwoods Properties, REIT 1,400 36 Developers Diversified Realty, REIT 1,900 36 Forest City Enterprises 900 35 BRE Properties 1,100 34 St. Joe 1,200 33 Liberty Property Trust, REIT 1,100 33 Federal Realty Investment Trust, REIT 1,400 32 Manufactured Home Communities, REIT 1,000 31 Mack-Cali Realty, REIT 1,000 31 Cousins Properties, REIT 1,250 31 Security Capital (Class B) * 1,200 30 Catellus Development * 1,600 29 Chateau Communities, REIT 900 27 Parkway Properties, REIT 800 27 Nationwide Health Properties, REIT 1,400 26 Brandywine Reality Trust 1,200 25 CBL & Associates Properties, REIT 800 25 First Industrial Realty 800 25 Post Properties, REIT 700 25 Felcor Suite Hotels, REIT (S) 1,448 24 Trammell Crow * 2,000 23 Storage USA, REIT 500 21 Ventas 1,800 21 Pan Pacific Retail Properties, REIT 700 20 Innkeepers USA, REIT 1,900 19 Consolidated-Tomoka Land 900 18 Alexander's * 300 17 JP Realty, REIT 700 17 Regency Centers 600 17 Kilroy Realty, REIT 600 16 RFS Hotel Investors 1,300 15 Great Lakes, REIT 900 14 Weingarten Realty Investors, REIT 300 14 27 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands MeriStar Hospitality 1,000 $ 14 Taubman Centers, REIT 900 13 Mid-America Apartment Communities 500 13 United Dominion Realty Trust, REIT 900 13 Home New York Properties 400 13 Wellsford Real Properties * 600 12 Getty Realty 600 11 IRT Property 1,000 11 Mills 400 11 One Liberty Properties 700 11 Bedford Property Investors, REIT 400 9 Mission West Properties 500 6 Jameson Inns 1,600 6 Cadiz *(S) 400 3 Vornado Operating * 3,435 2 ------------------ 2,435 ------------------ Total Financials 38,312 ------------------ HEALTH CARE 14.4% Biotechnology 1.9% Amgen * 15,700 886 Immunex * 7,800 216 Genzyme * 3,200 192 Genentech * 3,200 174 IDEC Pharmaceuticals * 2,200 152 MedImmune * 3,200 148 Chiron *(S) 3,000 131 Biogen * 2,200 126 Gilead Sciences * 1,520 100 Millennium Pharmaceuticals * 3,100 76 Human Genome Sciences * 1,900 64 Sepracor *(S) 1,100 63 Cephalon *(S) 800 60 Imclone Systems *(S) 1,107 51 ICOS * 800 46 Enzon *(S) 800 45 Abgenix * 1,300 44 28 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Celgene *(S) 1,300 $ 42 Protein Design Labs *(S) 1,200 39 BioReliance * 1,200 34 Affymetrix * 900 34 Techne * 800 29 Vertex Pharmaceuticals * 1,148 28 Applera-Celera Genomi * 900 24 Alkermes *(S) 900 24 IDEXX Laboratories * 800 23 OSI Pharmaceuticals *(S) 500 23 Tanox *(S) 1,200 22 Tularik *(S) 900 22 COR Therapeutics *(S) 900 22 Transkaryotic Therapies *(S) 500 21 Myriad Genetics * 400 21 CV Therapeutics *(S) 400 21 Neurocrine Biosciences *(S) 400 21 Aviron * 400 20 Medarex * 1,100 20 NPS Pharmaceuticals *(S) 500 19 Immunomedics *(S) 900 18 Trimeris *(S) 400 18 Cubist Pharmaceuticals * 500 18 Isis Pharmaceuticals *(S) 800 18 Array Biopharma * 1,200 18 Incyte Genomics * 900 17 Genta *(S) 1,200 17 Regeneron Pharmaceuticals *(S) 600 17 ILEX Oncology * 600 16 CuraGen * 700 16 Corixa *(S) 1,001 15 ImmunoGen *(S) 900 15 OraSure Technologies *(S) 1,200 15 Neose Technologies *(S) 400 15 AVI BioPharma *(S) 1,300 14 Kendle *(S) 700 14 ArQule * 800 14 Telik * 1,000 14 29 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------- In thousands Genencor *(S) 800 $ 13 CYTOGEN * 4,200 13 Enzo Biochem (S) 525 12 Cell Therapeutics *(S) 500 12 VI Technologies * 1,700 12 XOMA * 1,200 12 Cell Genesys *(S) 500 12 Albany Molecular Research *(S) 400 11 Kos Pharmaceuticals 300 10 Aphton *(S) 700 10 Ortec * 1,700 10 Exelixis *(S) 600 10 Bio-Technology General * 1,200 10 Alexion Pharmaceutical * 400 10 Gene Logic *(S) 500 9 Sangamo BioSciences * 1,000 9 Progenics Pharmaceuticals * 500 9 Maxygen * 500 9 Diversa * 600 8 Pharmacopeia *(S) 600 8 Curis * 1,490 8 Amylin Pharmaceuticals *(S) 900 8 Acacia Research (S) 660 7 Third Wave Technologies * 1,000 7 Hemispherx Biopharma * 1,600 7 Arena Pharmaceuticals *(S) 600 7 Biopure (Class A) *(S) 500 7 Neurogen * 400 7 Avigen * 600 7 ViroPharma *(S) 300 7 Luminex *(S) 400 7 BioMarin Pharmaceutical * 500 7 Maxim Pharmaceuticals * 1,000 7 Geron *(S) 700 6 Digene * 200 6 Organogenesis *(S) 1,200 6 OXiGENE * 1,800 5 Texas Biotechnology * 800 5 30 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Titan Pharmaceuticals *(S) 500 $ 5 Vion Pharmaceuticals * 1,100 5 BioCryst Pharmaceuticals * 1,200 5 Hyseq *(S) 600 5 ACLARA BioSciences * 900 4 Novavax * 300 4 Genelabs Technologies * 2,000 4 ONYX Pharmaceuticals *(S) 700 4 Northfield Laboratories *(S) 400 3 Sequenom *(S) 300 3 Valentis * 1,000 3 Pharmacyclics *(S) 300 3 Triangle Pharmaceuticals *(S) 700 3 United Therapeutics *(S) 200 2 Genaissance Pharmaceuticals *(S) 200 1 Immune Response *(S) 300 0 ------- 3,756 ------- Health Care Equipment & Supplies 1.8% Medtronic 18,520 948 Baxter 8,400 451 Guidant * 4,600 229 Stryker 3,200 187 Boston Scientific * 6,200 150 Becton, Dickinson 4,300 143 Biomet 4,300 133 Applied Biosystems - Applera 3,200 126 St. Jude Medical * 1,400 109 Zimmer * 3,060 93 Waters Corporation * 2,100 81 Hillenbrand Industries 1,100 61 C. R. Bard 800 52 Cytyc *(S) 1,700 44 Invitrogen *(S) 700 43 Edwards Lifesciences * 1,460 40 Dentsply 800 40 Beckman Coulter 900 40 Apogent Technologies * 1,500 39 Varian Associates * 500 36 31 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands ResMed * 600 $ 32 Arrow (S) 800 32 Bausch & Lomb 800 30 ICU Medical * 600 27 Invacare 700 24 Sybron Dental Specialties * 966 21 Nitinol Medical Technologies 2,400 21 Zoll Medical *(S) 500 20 VISX * 1,400 19 Steris * 1,000 18 Diagnostic Products 400 18 Vital Signs 500 17 IGEN *(S) 400 16 Lifecore Biomedical * 1,400 16 Illumina *(S) 1,300 15 Respironics * 400 14 Cerus *(S) 300 14 Charles River Laboratories * 400 13 West Pharmaceutical Services 500 13 Regeneration Technologies * 1,300 13 Bruker Daltonics *(S) 800 13 Inhale Therapeutic Systems *(S) 700 13 ArthroCare * 700 13 Therasense *(S) 500 12 Thoratec Laboratories * 700 12 Exactech * 700 12 Serologicals * 550 12 Aradigm *(S) 1,600 11 Viasys Healthcare * 557 11 Cardiodynamics *(S) 1,700 11 Haemonetics * 300 10 EPIX Medical * 700 10 Biosite Diagnostics * 500 9 Vasomedical * 2,000 7 SurModics *(S) 200 7 ORATEC Interventions * 1,100 7 Ventana Medical Systems *(S) 300 7 Align Technology *(S) 1,400 6 32 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Molecular Devices *(S) 300 $ 6 Zevex * 2,300 6 Aspect Medical Systems *(S) 600 6 Caliper Technologies * 300 5 Aksys *(S) 700 3 Physiometrix * 1,300 3 Inverness Med Innovations *(S) 80 1 -------- 3,651 -------- Health Care Providers & Services 2.0% Cardinal Health 6,717 434 UnitedHealth 4,900 347 HCA-Healthcare 8,300 320 Tenet Healthcare * 5,000 294 CIGNA 2,200 204 McKesson HBOC 4,051 151 Wellpoint Health Networks * 1,100 129 Quest Diagnostics * 1,400 100 AmerisourceBergen 1,566 100 HealthSouth * 6,238 92 Anthem * 1,800 89 Laboratory Corporation of America * 1,100 89 IMS Health 4,300 84 Aetna 2,200 73 Health Management (Class A) * 3,800 70 Lincare * 2,100 60 Caremark RX *(S) 3,500 57 Davita * 2,133 52 Express Scripts (Class A) *(S) 1,100 52 Patterson Dental * 1,200 49 Universal Health Services (Class B) * 1,100 47 Oxford Health Plans * 1,500 45 Health Net * 2,000 44 Omnicare 1,700 42 Manor Care * 1,700 40 Community Health System * 1,400 36 Trigon Healthcare * 500 35 First Health * 1,400 35 WebMD * 4,910 35 33 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Humana * 2,900 $ 34 Advance PCS * 1,100 32 Gentiva Health Services * 1,475 32 Quintiles Transnational * 1,900 30 Triad Hospitals * 1,031 30 Henry Schein * 700 26 CorVel * 750 25 Sunrise Assisted Living *(S) 800 23 PSS World Medical * 2,700 22 Beverly Enterprises * 2,500 21 LifePoint Hospitals * 631 21 Priority Healthcare (Class B) * 600 21 PacifiCare Health Systems *(S) 1,300 21 Covance *(S) 900 20 Accredo Health * 500 20 Hooper Holmes 2,200 20 Pharmaceutical Product Developement * 600 19 Province Healthcare *(S) 600 19 Orthodontic Centers of America *(S) 600 18 Coventry Health Care * 900 18 First Horizon Pharmaceutical * 600 18 Apria Healthcare * 700 17 D&K Healthcare 300 17 Dianon Systems *(S) 269 16 Allou Health & Beauty * 2,900 16 Curative Technologies * 1,200 16 MIM *(S) 900 16 Service Corp. *(S) 2,800 14 Specialty Laboratories *(S) 500 14 AMN Healthcare Services * 500 14 Mid-Atlantic Medical Services * 600 14 Cantel Med *(S) 700 13 Select Medical * 800 13 Renal Care * 400 13 Psychemedics 3,100 13 Stewart Enterprises (Class A) * 2,100 13 Maximus *(S) 300 13 Omnicell * 1,400 12 34 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands Syncor *(S) 400 $ 11 Cross Country 400 11 Bioanalytical Systems * 1,400 10 Sierra Health Services * 1,100 9 American Retirement *(S) 3,200 8 PDI * 300 7 HealthExtras * 1,100 6 Ventiv Health * 266 1 ------ 4,002 ------ Pharmaceuticals 8.7% Pfizer 96,125 3,831 Johnson & Johnson 46,875 2,770 Merck 34,794 2,046 Bristol-Myers Squibb 29,600 1,510 Eli Lilly 17,300 1,359 Abbott Laboratories 23,900 1,332 American Home Products 20,300 1,246 Pharmacia 19,700 840 Schering-Plough 21,700 777 Forest Laboratories * 2,700 221 Allergan 2,200 165 King Pharmaceuticals * 3,389 143 Andrx *(S) 1,200 84 Mylan Laboratories 2,100 79 Barr Laboratories *(S) 756 60 IVAX * 2,950 59 Watson Pharmaceuticals * 1,700 53 Fluor 1,000 37 ICN Pharmaceuticals 1,100 37 Sicor * 1,900 30 Medicis Pharmaceutical (Class A) * 400 26 InterMune Pharmaceuticals *(S) 400 20 Emisphere Technologies *(S) 600 19 Scios Nova *(S) 800 19 K-V Pharmaceutical (Class A) * 600 18 Endo Pharmaceuticals * 1,400 16 Alpharma (Class A) (S) 600 16 Adolor *(S) 800 14 35 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Louisiana Jolla Pharmaceutical 1,600 $ 14 Ligand Pharmaceuticals (Class B) * 800 14 Pharmaceutical Resources * 400 14 Zonagen *(S) 1,900 13 Hollis Eden *(S) 1,300 13 Inspire Phamaceutical * 900 13 aaiPharma * 500 13 Ariad Pharmaceuticals * 2,200 12 Perrigo * 1,000 12 NaPro BioTherapeutics *(S) 1,000 11 Discovery Partners * 1,500 11 Martek Biosciences *(S) 500 11 Atrix Laboratory * 500 10 Antigenics *(S) 600 10 Impax Laboratories *(S) 700 9 Durect * 800 9 Noven Pharmaceuticals * 500 9 Medicines *(S) 700 8 Insmed * 2,100 8 MGI PHARMA *(S) 500 8 CIMA Labs * 200 7 Guilford Pharmaceuticals *(S) 600 7 Bone Care *(S) 400 7 Argonaut Technologies * 1,600 7 Orphan Medical * 500 7 VaxGen *(S) 500 6 SuperGen * 400 6 Praecis Pharmaceuticals * 600 4 Boston Life Sciences *(S) 1,200 3 ------ 17,103 ------ Total Health Care 28,512 ------ INDUSTRIALS & BUSINESS SERVICES 10.4% Aerospace & Defense 1.4% Boeing 13,200 512 United Technologies 7,002 452 Honeywell 11,725 396 Lockheed Martin 7,000 327 36 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands General Dynamics 3,100 $ 247 Raytheon 5,400 175 Northrop Grumman 1,727 174 L-3 Communications * 800 72 Rockwell Collins 2,600 51 B.F. Goodrich 1,540 41 DRS Technologies * 900 32 United Industrial 1,600 27 Mercury Computer Systems * 600 23 Precision Castparts 700 20 World Fuel Services 1,000 18 Aeroflex * 900 17 GenCorp 1,100 15 Pemco Aviation *(S) 900 15 Curtiss-Wright 300 14 Engineered Support Systems (S) 400 14 Herley Industries * 800 14 BE Aerospace *(S) 1,300 12 Alliant Techsystems * 150 12 Ladish * 700 8 Aviall * 900 7 Hexcel * 500 1 Aviation Sales * 600 0 ------ 2,696 ------ Air Freight & Couriers 0.3% UPS (Class B) 4,800 262 Fedex * 4,100 213 C.H. Robinson Worldwide 1,600 46 Expeditors International of Washington 800 46 Atlas Air * 1,300 19 Forward Air *(S) 500 17 Airborne Freight 1,100 16 EGL * 750 10 ------ 629 ------ Airlines 0.2% Southwest Airlines 11,737 217 Delta 1,700 50 AMR * 2,200 49 37 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands SkyWest 1,200 $ 30 Alaska Air * 1,000 29 Continental Airlines (Class B) *(S) 800 21 Mesaba * 2,350 17 Northwest Airlines (Class A) *(S) 900 14 Atlantic Coast Airlines * 500 12 UAL (S) 600 8 USAir *(S) 1,200 7 ------ 454 ------ Building Products 0.2% Masco 7,400 181 American Standard * 1,000 68 Dal-Tile * 1,500 35 Associate Materials 700 27 Crane 900 23 AAON * 900 22 York 500 19 Universal Forest Products 700 15 Lennox 1,300 13 U.S. Industries 2,500 6 Owens Corning *(S) 1,600 3 Armstrong World *(S) 500 2 ------ 414 ------ Commercial Services & Supplies 2.5% Automatic Data Processing 9,500 560 First Data 5,900 463 Waste Management 9,260 295 Cendant * 13,993 274 Concord EFS * 7,200 236 Paychex 6,087 212 Pitney Bowes 4,000 150 Cintas 2,700 130 FIserv * 2,875 122 H&R Block 2,700 121 Avery Dennison 1,800 102 Sabre (Class A) * 2,300 97 DST Systems * 1,900 95 Convergys * 2,500 94 38 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Apollo (Class A) * 1,750 $ 79 Robert Half * 2,600 69 Total Systems Services (S) 3,000 64 Equifax 2,400 58 Manpower 1,700 57 Republic Services (Class A) * 2,800 56 ServiceMaster 4,000 55 Allied Waste * 3,760 53 BISYS * 800 51 R.R. Donnelley 1,700 50 Deluxe 1,200 50 Choicepoint * 950 48 Ceridian * 2,500 47 Dun & Bradstreet * 1,300 46 Viad 1,700 40 Valassis Communications * 1,100 39 Devry * 1,300 37 Certegy * 1,000 34 Weight Watchers * 1,000 34 CSG Systems * 800 32 Herman Miller 1,300 31 Iron Mountain * 700 31 National Processing * 900 29 HON Industries 1,000 28 Ndchealth 800 28 Exult *(S) 1,700 27 Global Payments 780 27 Checkfree *(S) 1,400 25 RemedyTemp (Class A) *(S) 1,700 24 United Stationers * 700 24 West Corporation * 900 22 Wackenhut Corrections * 1,600 22 Edison Schools (Class A) *(S) 1,100 22 TeleTech * 1,500 21 Ionics * 700 21 Career Education * 600 21 NCO *(S) 900 21 Landauer 600 20 39 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Arbitron * 580 $ 20 Bright Horizons Family Solution * 700 20 ITT Educational Services *(S) 500 18 Corporate Executive Board *(S) 500 18 Sotheby's (Class A) * 1,100 18 Pegasus Solutions *(S) 1,250 18 Choice Hotels *(S) 800 18 Miami Computer Supply 750 18 Spherion * 1,800 18 Factset Research Systems (S) 500 17 Modis Professional Services *(S) 2,400 17 Learning Tree * 600 17 Tetra Tech *(S) 825 16 Rollins (S) 800 16 Labor Ready * 3,100 16 Central Parking (S) 800 16 NCH 300 16 Team * 2,300 15 John H. Harland 700 15 Medquist * 500 15 Administaff *(S) 500 14 Interpool 700 13 G&K Services (Class A) 400 13 Heidrick & Struggles * 700 13 Franklin Covey * 2,100 13 EFunds * 906 12 Waste Connections *(S) 400 12 Banta 400 12 ProBusiness Services * 600 11 ICT *(S) 600 11 Education Management * 300 11 Korn/Ferry * 1,000 11 Sylvan Learning Systems * 468 10 F. Y. I. * 300 10 Strayer Education (S) 200 10 Consolidated Graphics * 500 10 School Specialty * 400 9 Pittston Services 400 9 40 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------- In thousands Profit Recovery *(S) 1,000 $ 8 DiamondCluster (Class A) *(S) 600 8 Coinstar * 300 7 Daisytek *(S) 400 5 EXE Technologies * 1,000 5 Navigant Consulting * 900 5 Thomas * 2,100 4 Imagistics * 312 4 New England Business Service 200 4 Staff Leasing 1,500 4 ------- 4,994 ------- Construction & Engineering 0.1% Jacobs Engineering * 400 26 Granite Construction 1,050 25 McDermott * 1,700 21 Insituform Technologies (Class A) *(S) 800 21 Shaw *(S) 800 19 EMCOR * 400 18 Quanta Services * 950 15 Dycom Industries * 800 13 Mastec * 1,150 8 CorrPro Companies * 900 3 Encompass Services * 779 2 ------- 171 ------- Electrical Equipment 0.5% Emerson Electric 6,400 365 Cooper Industries 1,500 52 Rockwell 2,700 48 American Power Conversion * 2,900 42 Genlyte * 1,000 30 AMETEK 800 26 Tecumseh Products (Class A) 500 25 Energizer * 1,300 25 Hubbell (Class B) 800 24 General Cable 1,600 21 Fuelcell Energy * 1,100 20 Aztec Manufacturing 900 19 Thomas & Betts 800 17 41 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Advanced Energy Industries *(S) 600 $ 16 Power-One *(S) 1,500 16 Electro Scientific Industries *(S) 500 15 Baldor Electric 700 15 Capstone Turbine * 2,500 14 Woodward Governor 200 12 Vicor * 700 11 Brady (Class A) 300 11 Acuity Brands * 900 11 Plug Power *(S) 1,200 10 C&D Technologies 400 9 AstroPower *(S) 200 8 Energy Conversion Devices *(S) 400 8 American Superconductor *(S) 600 7 UQM Technologies * 1,300 7 Active Power *(S) 1,000 7 Bairnco 1,000 6 Channell Commercial * 1,500 5 Microvision * 300 4 AMX * 1,700 4 Artesyn Technologies * 400 4 Proton Energy Systems *(S) 400 3 H Power . *(S) 1,000 3 Beacon Power * 1,800 2 National Service Industries 700 1 SmartDisk * 400 1 ------- 924 ------- Industrial Conglomerates 3.5% GE 151,900 6,088 3M 6,000 709 Textron 2,100 87 Carlisle Companies 400 15 Teleflex 300 14 Tredegar Industries 700 14 Standex International 500 11 ------- 6,938 ------- Machinery 1.1% Illinois Tool Works 4,550 308 42 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------- In thousands Caterpillar 5,200 $ 272 Deere 3,400 148 Danaher 2,400 145 Dover 3,200 119 Ingersoll-Rand 2,400 100 PACCAR 1,400 92 SPX * 652 89 Eaton 1,100 82 Parker Hannifin 1,719 79 ITT Industries 1,200 61 Navistar 1,100 43 Pall 1,800 43 Graco 850 33 Donaldson 800 31 Cummins Engine 800 31 Ampco Pittsburgh 2,500 27 Pentair 700 26 Trinity Industries 900 24 Regal-Beloit 1,100 24 NACCO Industries (Class A) 400 23 Thomas Industries 900 22 Manitowoc 700 22 Briggs & Stratton (S) 500 21 Kennametal 500 20 Lincoln Electric 800 20 Dionex * 700 18 Wolverine Tube * 1,400 16 AGCO 1,000 16 Watts Industries (Class A) 900 13 Nordson 500 13 Actuant (Class A) * 320 11 Esco Electronics * 300 10 Robbins & Myers 400 9 UNOVA * 1,600 9 CIRCOR International 500 9 Terex * 500 9 Esterline Technologies * 500 8 Titan 1,600 8 43 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------ Shares/Par Value ------------------------------------------------------------------------------ In thousands Quixote 400 $ 8 Gardner Denver Machinery * 300 7 JLG Industries 600 6 Tennant 100 4 Kadant * 149 2 ------ 2,081 ------ Marine 0.1% Alexander & Baldwin 1,100 29 Overseas Shipholding (S) 1,200 27 Kirby * 400 11 General Maritime * 1,000 10 ------ 77 ------ Road & Rail 0.4% Union Pacific 3,500 200 Burlington Northern Santa Fe 6,400 183 CSX 3,100 109 Norfolk Southern 5,800 106 Swift Transportation * 1,970 42 Ryder System 1,900 42 U.S. Xpress Enterprises (Class A) * 3,900 36 Werner Enterprises 1,325 32 USA Truck * 2,400 26 GATX 700 23 CNF 600 20 Kansas City Southern Industries * 1,200 17 Dollar Thrifty Auto *(S) 600 9 Florida East Coast Industries 400 9 Florida East Coast Industries (Class B) 1 0 ------ 854 ------ Trading Companies & Distributors 0.1% Genuine Parts 2,700 99 W. W. Grainger 1,500 72 Fastenal (S) 600 40 Huttig Building Products * 3,644 22 Pitt-DesMoines 600 19 ------ 252 ------ Total Industrials & Business Services 20,484 ------ 44 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands INFORMATION TECHNOLOGY 17.5% Communications Equipment 2.7% Cisco Systems * 112,168 $ 2,032 QUALCOMM * 11,500 580 Motorola 33,740 507 Lucent Technologies 48,785 307 JDS Uniphase * 19,458 169 Brocade Communications Systems * 3,660 121 Corning 13,010 116 Juniper Networks *(S) 5,050 96 Tellabs * 5,800 87 CIENA * 4,900 70 Comverse Technology * 2,600 58 Scientific-Atlanta 2,400 57 ADC Telecommunications * 11,652 54 Avaya *(S) 4,257 52 Emulex * 1,300 51 Polycom *(S) 1,300 44 Riverstone Networks *(S) 2,585 43 McDATA (Class A) *(S) 1,725 42 3Com * 5,300 34 Andrew * 1,300 28 Finisar *(S) 2,700 28 Harris 900 27 Inter-Tel (S) 1,400 27 Black Box * 500 26 Adaptec * 1,800 26 Extreme Networks *(S) 1,900 25 Enterasys Networks * 2,700 24 Crown Castle * 2,200 24 Advanced Fibre Communications * 1,300 23 ADTRAN * 800 20 Sycamore Networks * 3,500 19 Tekelec *(S) 1,000 18 Plantronics * 700 18 Powerwave Technologies * 1,000 17 DMC Stratex Networks *(S)v 2,200 17 45 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Terayon Communication Systems *(S) 2,000 $ 17 Avocent * 636 15 Corvis * 4,700 15 Commscope * 700 15 Sonus Networks *(S) 3,200 15 SBA Communications * 1,100 14 Bel Fuse (Class A) * 600 14 Ixia * 1,100 14 Foundry Networks *(S) 1,700 14 Inrange Technologies (Class B) *(S) 1,100 14 ONI Systems *(S) 2,100 13 Cable Design Technologies * 900 12 Loral Space & Communications *(S) 4,100 12 Digital Lightwave *(S) 1,300 12 Tellium *++(S) 1,900 12 C-Cor.net * 800 12 Stratos Lightwave * 1,804 11 Davox 1,100 11 Audiovox (Class A) * 1,400 10 Tollgrade Communications * 300 10 Cognitronics * 2,000 10 MRV Communications *(S) 2,160 9 Harmonic * 759 9 Redback Networks *(S) 2,300 9 REMEC *(S) 900 9 Computer Network Technology * 500 9 Echelon *(S) 600 9 Centillium Communications * 1,000 8 Norstan * 1,400 8 Aspect Telecommunications * 1,800 7 Interdigital *(S) 700 7 Spectrasite *(S) 1,800 7 Clarent * 1,100 6 Extended Systems * 800 6 Ditech Communications * 900 5 Avanex * 900 5 Anaren Microwave *(S) 300 5 New Focus * 1,300 5 46 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands Next Level Communications (Class A) *(S) 1,400 $ 5 Lantronix *(S) 700 4 WJ Communications *(S) 1,100 4 Proxim *(S) 400 4 NMS Communications *(S) 800 4 Oplink Communications * 2,000 4 Sunrise Telecom * 900 4 Packeteer * 400 3 Avici Systems *(S) 1,000 3 Metawave Communications *(S) 900 3 Allen Telecom *(S) 300 3 Turnstone Systems * 600 2 Netro * 600 2 Optical Communications Products (Class A) * 500 2 Paradyne Networks * 500 2 Com21 * 1,200 2 Xetel * 2,400 2 Optical Cable *(S) 850 1 VYYO * 900 1 Copper Mountain * 600 1 Tut Systems * 400 1 MCK Communications * 500 1 Sorrento Networks *(S) 200 1 Gadzoox Networks * 600 0 Nortel Networks 1 0 ------------ 5,341 ------------ Computers & Peripherals 3.5% IBM 26,300 3,181 Dell Computer * 39,500 1,073 Sun Microsystems * 48,900 602 Hewlett-Packard 28,845 593 EMC * 33,586 451 COMPAQ Computer 24,378 238 Lexmark (Class A) * 2,000 118 Apple Computer * 5,000 110 Network Appliance * 4,800 105 NCR * 1,700 63 Gateway 2000 * 5,200 42 47 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Storage Technology * 1,600 $ 33 Palm * 8,216 32 Electronics for Imaging * 1,200 27 Western Digital * 4,200 26 Quantum DLT & Storage Systems * 2,400 24 Concurrent Computer *(S) 1,500 22 Drexler Technology * 900 21 Read-Rite * 3,000 20 In Focus Systems *(S) 900 20 Handspring *(S) 2,600 18 Sandisk *(S) 1,000 14 Maxtor * 2,204 14 Advanced Digital Info * 800 13 Avid Technology * 700 9 Iomega * 1,000 8 Intergraph * 600 8 Interland * 3,352 7 Crossroads Systems * 1,180 5 Storagenetworks *(S) 700 4 JNI *(S) 400 3 Rainbow Technologies * 300 2 Auspex Systems * 1,200 2 Procom Technology *(S) 600 2 Isomet * 100 0 ------------ 6,910 ------------ Electronic Equipment & Instruments 0.9% Agilent Technologies * 6,787 194 Sanmina * 6,912 138 Solectron * 10,540 119 Molex(S) 2,950 91 PerkinElmer 2,135 75 Jabil Circuit * 2,900 66 Avnet 2,448 62 Thermo Electron * 2,450 58 AVX 2,400 57 Symbol Technologies 3,300 52 Vishay Intertechnology * 2,668 52 Diebold 1,100 44 48 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------- In thousands Millipore 700 $ 42 Tech Data * 900 39 Arrow Electronics * 1,300 39 Tektronix * 1,400 36 Roper Industries 600 30 Amphenol (Class A) *(S) 600 29 Cognex * 1,000 26 KEMET * 1,400 25 Analogic 600 23 Varian * 700 23 Ingram Micro (Class A) * 1,100 19 Coherent * 600 19 Plexus * 700 19 LSI Industries 1,050 18 X-Rite 2,100 18 Anixter * 600 17 Zomax * 2,100 17 Technitrol 600 17 Checkpoint Systems *(S) 1,200 16 Cohu 800 16 Interlogix * 400 15 Fisher Scientific * 500 15 Kopin * 1,000 14 Photon Dynamics *(S) 300 14 Napco Security Systems * 2,400 14 Park Electrochemical 500 13 DSP * 500 12 Newport 600 12 DDi * 1,100 11 Veeco *(S) 300 11 Research Frontiers * 600 10 Teledyne Technologies * 600 10 Trimble Navigation *(S) 600 10 Benchmark Electronics * 500 9 Merix * 500 9 Somera Communications *(S) 1,100 8 CTS 500 8 ePlus *(S) 800 8 49 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ---------------------------------------------------------------------------- Shares/Par Value ---------------------------------------------------------------------------- In thousands Nu Horizons Electronics * 650 $ 7 Mechanical Technology * 2,000 5 Ultrak *(S) 2,800 4 Nanometrics *(S) 200 4 APA Optics * 1,100 3 Methode Electronics (Class A) 400 3 Zygo * 200 3 Interlink Electronics * 700 3 Sirenza Microdevices * 400 2 Richardson Electronics (S) 200 2 Viasystems * 2,100 1 APW * 600 1 Robotic Vision Systems * 400 0 ACT/ Manufacturing *(S) 750 0 ------------ 1,737 ------------ Internet Software & Services 0.5% Yahoo! *(S) 8,252 147 VeriSign *(S) 3,440 131 Expedia (Class A) *(S) 800 32 Earthlink * 2,630 32 Overture Services * 900 32 CNET Networks *(S) 2,875 26 Openwave Systems * 2,566 25 Ariba *(S) 4,000 25 DoubleClick * 1,930 22 Retek *(S) 672 20 Interwoven * 2,000 20 Sonicwall *(S) 1,000 19 Internet Security Systems *(S) 600 19 Vignette * 3,374 18 Stellent * 600 18 Webex Communications *(S) 600 15 RealNetworks * 2,500 15 HotJobs.com * 1,400 15 Netegrity * 750 15 S1 * 900 15 Quovadx * 1,500 14 50 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------- In thousands Websense * 400 $ 13 SeeBeyond Technology *(S) 1,300 13 iManage * 1,600 13 Vitria Technology * 1,800 11 Register.com 900 10 webmethods *(S) 610 10 Broadvision * 3,719 10 McAfee.com (Class A) *(S) 300 10 ITXC *(S) 1,400 10 Commerce One * 2,780 10 SmartServ Online *(S) 1,400 10 FTD Common (Class A) * 1,400 10 InfoSpace.com *(S) 4,710 10 FreeMarkets *(S) 400 10 MatrixOne * 700 9 F5 Networks *(S) 400 9 Alloy Online *(S) 400 9 Akamai Technologies *(S) 1,419 8 Virage * 2,400 8 MarketWatch.com * 2,400 8 CMGI * 4,446 7 Centra Software *(S) 900 7 Loudcloud *(S) 1,700 7 Zixit *(S) 1,400 7 Universal Access Global * 1,500 7 Net2Phone *(S) 1,000 7 Keynote Systems * 700 6 NetRatings *(S) 400 6 Blue Martini Software * 1,800 5 Genuity (Class A) * 3,400 5 WatchGuard Technologies * 800 5 Saba Software *(S) 1,000 5 HomeStore.com *(S) 1,300 5 Digitas * 1,100 4 Support.com * 700 4 Braun Consulting *(S) 1,200 4 eXcelon * 3,629 4 51 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND --------------------------------------------------------------------------- Shares/Par Value --------------------------------------------------------------------------- In thousands Art Technology * 1,200 $ 4 Allscripts Heathcare *(S) 1,200 4 WorldGate Communications *(S) 1,500 4 Tumbleweed Communications * 600 3 L90 * 2,200 3 SilverStream Software * 500 3 Modem Media (Class A) *(S) 1,000 3 eCollege.com * 1,000 3 Crossworlds Software * 600 3 Internap Network Services * 2,300 3 Be Free * 1,200 3 Multex.com *(S) 500 2 OTG Software *(S) 200 2 National Information Consortium * 600 2 Viant * 1,100 2 Divine * 2,400 2 EBENX *(S) 400 2 Net Perceptions * 1,000 2 Click Commerece * 500 2 Vicinity *(S) 800 1 Cacheflow * 500 1 Extensity * 600 1 Digex (Class A) * 400 1 SportsLine USA *(S) 400 1 internet.com 600 1 VIA NET.WORKS * 1,000 1 Ask Jeeves * 300 1 eSoft * 900 1 Ibasis *(S) 500 1 Primus Knowledge Solutions * 700 1 Egain Communications *(S) 400 1 Globix * 1,200 0 ------------ 1,035 ------------ IT Consulting & Services 0.6% Electronic Data Systems 7,100 487 Computer Sciences * 2,400 117 SunGard Data Systems * 4,000 116 Affiliated Computer Services (Class A) * 600 64 52 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Unisys * 4,800 $ 60 Keane * 1,956 35 KPMG Consulting * 1,900 32 Perot Systems (Class A) * 1,400 29 Acxiom * 1,400 24 ProQuest * 700 24 CACl (Class A) * 600 24 Investment Technology * 600 23 CIBER * 2,100 20 Titan * 700 17 Syntel * 1,300 17 InterCept * 400 16 Renaissance Learning *(S) 500 15 Sapient * 1,900 15 Manhattan Associates *(S) 500 15 American Management Systems * 700 13 CoStar Group * 500 12 Management Network * 1,600 11 DigitalThink * 900 10 Data Systems & Software * 1,900 9 IDX Systems *(S) 700 9 Cognizant Technology Solutions (Class A) *(S) 200 8 Complete Business Solutions * 900 8 Safeguard Scientifics * 1,700 6 Startek * 300 6 Inforte *(S) 400 5 Analysts 1,300 5 SkillSoft *(S) 200 5 Bell Microproducts * 400 5 AnswerThink * 720 5 Sykes Enterprises * 500 5 Igate Capital * 600 2 Carreker-Antinori *(S) 300 2 Technology Solutions * 800 2 Predictive Systems * 500 1 GRIC Communications * 300 0 ------------ 1,279 ------------ 53 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Office Electronics 0.1% Xerox(S) 10,000 $ 104 Zebra Technologies (Class A) *(S) 600 33 Ikon Office Solutions 2,200 26 ------------ 163 ------------ Semiconductor Equipment & Products 4.1% Intel 102,590 3,226 Texas Instruments 25,800 722 Applied Materials * 11,889 477 Micron Technology * 9,000 279 Maxim Integrated Products * 5,121 269 Analog Devices * 5,300 235 Linear Technology 4,800 187 Xilinx * 4,700 184 Broadcom (Class A) * 3,800 155 KLA-Tencor * 2,900 144 NVIDIA *(S) 2,000 134 Altera * 5,700 121 LSI Logic * 5,606 88 Microchip Technology * 2,243 87 Novellus Systems * 2,200 87 National Semiconductor * 2,600 80 Teradyne * 2,600 78 Advanced Micro Devices * 4,600 73 QLogic * 1,511 67 Agere Systems (Class A) * 10,200 58 Conexant Systems * 3,930 56 Applied Micro Circuits * 4,542 51 Atmel * 6,900 51 RF Micro Devices * 2,600 50 Lam Research * 2,100 49 Fairchild Semiconductor (Class A) * 1,600 45 Integrated Device Technology * 1,500 40 Intersil (Class A) * 1,200 39 Micrel * 1,400 37 Amkor Technology *(S) 2,300 37 Semtech * 1,000 36 Vitesse Semiconductor * 2,700 34 54 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands International Rectifier * 900 $ 31 Lattice Semiconductor * 1,500 31 Cypress Semiconductor * 1,500 30 Cree Research *(S) 1,000 30 Cabot Microelectronics *(S) 364 29 Axcelis Technologies * 2,214 29 Silicon Laboratories *(S) 800 27 TriQuint Semiconductor * 2,190 27 Globespan Virata *(S) 2,020 26 Kulicke & Soffa *(S) 1,300 22 Varian Semiconductor Equipment * 600 21 Integrated Circuit Systems *(S) 900 20 Alpha Industries * 800 18 Silicon Storage Technology * 1,800 17 DuPont Photomasks * 400 17 Omnivision Technologies * 1,900 17 LTX * 800 17 Exar * 800 17 MKS Instruments * 613 17 Brooks Automation *(S) 400 16 FEI * 500 16 Elantec Semiconductor * 400 15 Oak Technology * 1,100 15 Therma-Wave * 1,000 15 Microsemi * 500 15 Cirrus Logic * 1,100 15 Rambus *(S) 1,800 14 Pixelworks *(S) 900 14 Monolithic Systems Technology * 700 14 ATMI *(S) 600 14 PRI Automation * 700 14 Artisan Components * 900 14 Microtune * 600 14 Power Integrations * 600 14 Cymer * 500 13 Credence Systems * 700 13 ANADIGICS *(S) 800 12 Sonicblue * 2,900 12 55 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ----------------------------------------------------------------------------- Shares/Par Value ----------------------------------------------------------------------------- In thousands Helix Technology(S) 500 $ 11 Siliconix * 400 11 Electroglas * 700 10 Actel * 500 10 Entergris * 900 10 Zoran * 300 10 Virage Logic *(S) 500 10 Integrated Silicon Solution *(S) 700 9 Chippac (Class A) *(S) 1,100 8 TTM Technologies * 800 8 Semitool * 700 8 Three-Five Systems *(S) 500 8 Sipex *(S) 600 8 Pericom Semiconductor * 500 7 Alliance Semiconductor * 600 7 Mattson Technology *(S) 800 7 Supertex * 400 7 Rudolph Technologies *(S) 200 7 EMCORE *(S) 500 7 Diodes * 800 5 TranSwitch * 1,100 5 Ultratech Stepper * 300 5 Semx *(S) 2,200 5 MEMC Electronic Materials * 1,300 5 Transmeta * 2,000 5 AXT * 300 4 MIPS Technologies (Class A) *(S) 500 4 Silicon Image * 1,100 4 IXYS * 500 4 QuickLogic * 100 1 ------------ 8,198 ------------ Software 5.1% Microsoft * 83,025 5,501 Oracle * 83,400 1,152 Computer Associates 8,457 292 VERITAS Software * 5,775 259 PeopleSoft * 4,600 185 Siebel Systems * 6,600 185 56 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Intuit * 3,200 $ 137 Electronic Arts * 2,200 132 Adobe Systems 3,500 109 BEA Systems * 5,800 89 Cadence Design Systems * 3,500 77 Symantec * 1,150 76 Compuware * 5,800 68 BMC Software * 4,100 67 Citrix Systems * 2,700 61 Rational Software * 2,700 53 Network Associates * 2,000 52 Synopsys *(S) 800 47 i2 Technologies * 5,790 46 Cerner *(S) 900 45 TIBCO Software * 3,000 45 Peregrine Systems * 2,937 44 Autodesk 1,100 41 Mercury Interactive * 1,100 37 Jack Henry & Associates 1,500 33 Quest Software *(S) 1,400 31 National Instruments *(S) 800 30 Sybase * 1,810 28 Mentor Graphics * 1,200 28 Parametric Technology * 3,600 28 J. D. Edwards *(S) 1,700 28 Momentum Business Applications (Class A) *(S) 1,346 27 Manugistics * 1,200 25 Novell * 5,434 25 Numerical Technologies (Class A) *(S) 700 25 Reynolds & Reynolds (Class A) 1,000 24 THQ *(S) 500 24 Embarcadero *(S) 1,000 24 Documentum *(S) 1,100 24 NetIQ * 668 24 Legato Systems * 1,800 23 Borland Software * 1,400 22 Vastera *(S) 1,300 22 Informatica * 1,400 20 57 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands FileNet * 1,000 $ 20 Advent Software * 400 20 Wind River Systems *(S) 1,072 19 Eclipsys * 1,100 18 Micromuse *(S) 1,200 18 Red Hat * 2,500 18 Ansoft * 1,200 18 RSA Security *(S) 1,000 17 SERENA Software * 800 17 Liberate Technologies *(S) 1,500 17 Ascential Software * 4,200 17 Progress Software * 900 16 Activision * 600 16 Ansys * 600 15 HNC Software *(S) 700 14 BARRA *(S) 300 14 NYFIX *(S) 700 14 Macromedia * 780 14 Agile Software * 800 14 Evans & Sutherland Computer * 2,100 14 SeaChange * 400 14 Infogrames * 1,900 13 Hyperion Solutions * 670 13 Lightbridge * 1,078 13 Indus * 1,700 13 Secure Computing * 600 12 Take-Two Interactive Software *(S) 700 11 Inktomi * 1,700 11 JDA Software 500 11 Phoenix Technologies * 900 11 Avant *(S) 500 10 Verity * 500 10 Aspen Technology * 600 10 QRS * 700 10 E.piphany * 1,125 10 Dendrite * 700 10 Entrust Technologies *(S) 900 9 OPNET Technologies * 600 9 Synplicity * 600 8 58 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Ulticom * 800 $ 8 Sanchez Computer Associates *(S) 900 8 Inet Technologies * 700 7 Roxio * 413 7 Speechworks * 600 7 Mobius Management Systems * 2,200 7 Concord Communications * 300 6 Selectica * 900 5 Nuance Communications * 600 5 SPSS * 300 5 Witness Systems * 400 5 Catapult Communications * 200 5 NetScout Systems * 600 5 Viewpoint * 700 5 Actuate * 900 5 InterVoice * 369 5 Portal Software *(S) 2,200 5 BSQUARE * 1,000 4 VA Linux Systems (S) 1,600 4 Signalsoft * 800 4 Innoveda * 1,800 3 MetaSolv Software * 400 3 MapInfo * 200 3 Convera (Class A) * 900 3 Visual Networks *(S) 600 3 ONYX Software * 700 3 Mercator Software *(S) 300 2 MicroStrategy (Class A) *(S) 600 2 Latitude Communications * 800 2 InteliData Technologies *(S) 600 2 BindView Development * 800 2 Pumatech * 600 2 Resonate *(S) 500 1 Wave Systems *(S) 500 1 Informax *(S) 300 1 Sagent Technology * 900 1 EBT International 500 0 --------- 9,999 --------- Total Information Technology 34,662 --------- 59 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands MATERIALS 2.5% Chemicals 1.2% DuPont 15,409 $ 655 Dow Chemical 13,199 446 Air Products and Chemicals 3,300 155 Praxair 2,300 127 PPG Industries 2,400 124 Rohm & Haas 3,100 107 Ecolab 1,800 72 Engelhard 1,900 53 Sigma Aldrich 1,200 47 International Flavors & Fragrances 1,500 45 Eastman Chemical 1,100 43 Cabot 1,000 36 Solutia 2,300 32 Valspar (S) 800 32 Lyondell Chemical 1,800 26 Lubrizol 700 25 FMC * 400 24 H.B. Fuller 800 23 Hawkins Chemical (S) 2,500 22 IMC Global 1,700 22 RPM 1,500 22 Crompton 2,300 21 OM 300 20 NL Industries (S) 1,200 18 Great Lakes Chemical (S) 700 17 Airgas * 1,100 17 Cytec Industries * 600 16 Hercules * 1,600 16 American Pacific * (S) 1,800 15 International Specialty Products * 1,500 13 Cambrex 300 13 Ferro 500 13 SPARTECH 600 12 MacDermid (S) 700 12 Arch Chemicals 500 12 Valhi 900 11 60 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Millennium Chemicals 900 $ 11 Calgon Carbon 1,200 10 Stepan 400 10 OMNOVA Solutions 1,400 9 Georgia Gulf 400 7 A. Schulman 500 7 Mississippi Chemical * 2,200 6 Zoltek *(S) 2,100 5 Terra Industries * 1,000 3 Terra Nitrogen 600 3 Landec * 500 2 W. R. Grace * 1,000 2 ---------- 2,439 ---------- Construction Materials 0.1% Vulcan Materials 1,400 67 Lafarge 900 34 Martin Marietta Materials 600 28 Ameron 200 14 ---------- 143 ---------- Containers & Packaging 0.2% Sealed Air *(S) 1,400 57 Smurfit-Stone Container * 3,490 56 Ball 700 50 Pactiv * 2,600 46 Sonoco Products 1,500 40 Temple-Inland 700 40 Bemis 700 34 Owens-Illinois * 2,900 29 Packaging Corporation of America * 1,400 25 Aptargroup 600 21 Chesapeake 700 19 Myers Industries 946 13 Caraustar 1,500 10 Ivex Packaging * 400 8 Crown Cork & Seal * 1,600 4 EarthShell *(S) 1,300 3 AEP Industries *(S) 100 2 ---------- 457 ---------- 61 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Metals & Mining 0.5% Alcoa 13,220 $ 470 Newmont Mining (S) 3,500 67 Nucor 1,100 58 Phelps Dodge 1,128 36 Barrick Gold 2,067 33 Commercial Metals 800 28 CONSOL Energy 1,100 27 Massey 1,300 27 Freeport McMoRan Copper Gold (Class B) *(S) 2,000 27 Arch Coal 1,146 26 USX-U.S. Steel 1,400 25 Carpenter Technology 900 24 AK Steel 1,900 22 Tremont 700 20 Worthington Industries 1,400 20 Quanex 700 20 Alliance Resource Partners 700 19 Allegheny Technologies 1,050 18 Ryerson Tull 1,000 11 Stillwater Mining * 500 9 UCAR * 700 7 Titanium Metals *(S) 1,400 6 Brush Wellman 200 3 ----------- 1,003 ----------- Paper & Forest Products 0.5% International Paper 7,084 286 Weyerhaeuser 3,300 178 Georgia-Pacific 3,340 92 Plum Creek Timber 2,844 81 Willamette Industries 1,500 78 Westvaco 1,600 46 Mead 1,400 43 Bowater 700 33 Boise Cascade 800 27 Buckeye Technologies * 2,000 23 Baltek * 2,800 21 Potlatch(S) 600 18 62 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Louisiana Pacific 1,400 $ 12 Badger Paper Mills * 2,200 9 FiberMark * 800 5 Impreso * 1,300 4 ---------- 956 ---------- Total Materials 4,998 ---------- TELECOMMUNICATION SERVICES 4.8% Diversified Telecommunication Services 4.0% SBC Communications 51,397 2,013 Verizon Communications 41,460 1,968 BellSouth 28,300 1,080 AT&T 52,415 951 WorldCom * 43,488 612 Qwest Communications 24,925 352 ALLTEL 4,400 272 Sprint 13,100 263 Centurytel 2,175 71 Citizens Communications * 3,640 39 Broadwing * 3,148 30 Level 3 Communications *(S) 5,700 28 Commonwealth Telephone Enterprises *(S) 600 27 MCI 1,662 21 IDT * 1,000 19 Atlantic Tele Network 1,200 17 Williams Communications *(S) 7,081 17 Time Warner Telecom (Class A) *(S) 900 16 Allegiance Telecom * 1,900 16 General Communications * 1,600 14 Covista Communications * 1,200 11 CTC Communications *(S) 2,200 11 Intrado *(S) 400 11 Infonet Services (Class B) * 4,300 10 North Pittsburgh Systems 400 7 CT Communications 400 7 Western Multiplex (Class A) * 1,200 6 NTELOS *(S) 400 6 Hickory Technology 300 5 63 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Lexent * 800 $ 5 US LEC (Class A) * 900 5 RCN *(S) 1,600 5 Choice One Communications *(S) 800 3 NEON Communications *(S) 700 2 ITC Deltacom *(S) 1,300 1 Network Plus *(S) 700 1 Adelphia Business Solutions (Class A) * 1,100 1 Z-Tel Technologies *(S) 500 1 AT&T Latin America * 300 0 Deutsche Telekom ADR(S) 1 0 ---------- 7,924 ---------- Wireless Telecommunication Services 0.8% AT&T Wireless * 36,944 531 Sprint PCS *(S) 14,600 356 Nextel Communications (Class A) *(S) 10,600 116 Telephone and Data Systems 900 81 U. S. Cellular *(S) 1,200 54 PanAmSat * 2,300 50 Triton PCS (Class A) * 1,300 38 Western Wireless (Class A) * 1,300 37 Nextel Partners (Class A) * 2,800 34 Telecorp PCS (Class A) *(S) 2,392 30 American Tower Systems (Class A) * 2,400 23 Leap Wireless *(S) 900 19 Centennial Communications (Class A) *(S) 1,700 17 Metro One Telecommunications *(S) 550 17 EMS Technologies *(S) 1,000 16 Boston Communications *(S) 1,400 16 Price Communications * 762 15 Alamosa *(S) 1,000 12 Dobson Communications (Class A) * 1,300 11 AirGate PCS * 200 9 Rural Cellular (Class A) * 300 7 Aether Systems *(S) 650 6 Wireless Facilities *(S) 800 5 ---------- 1,500 ---------- Total Telecommunication Services 9,424 ---------- 64 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands UTILITIES 3.1% Electric Utilities 2.3% Duke Energy 11,800 $ 463 Southern Company 10,900 276 Dominion Resources 3,720 224 Exelon 4,662 223 American Electric Power 4,640 202 TXU 4,000 189 FirstEnergy 5,160 180 Progress Energy 3,330 150 XCEL Energy 5,380 149 FPL Rights 2,600 147 AES * 7,755 127 Public Service Enterprise 3,000 127 Consolidated Edison 3,100 125 Entergy 3,100 121 PG&E 5,800 112 DTE Energy 2,649 111 Reliant Energy 4,000 106 CINergy 2,900 97 Mirant * 5,237 84 Ameren 1,900 80 Calpine *(S) 4,700 79 PPL 2,200 77 Constellation Energy 2,700 72 Edison * 4,500 68 Allegheny Energy 1,700 62 Niagara Mohawk * 2,900 51 DPL 2,100 51 Pinnacle West Capital 1,200 50 Northeast Utilities 2,500 44 Alliant 1,400 42 CMS Energy 1,700 41 NSTAR 900 40 WPS Resources (S) 1,000 37 Orion Power *(S) 1,300 34 Wisconsin Energy 1,500 34 65 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Great Plains Energy 1,300 $ 33 Potomac Electric Power 1,400 32 RGS Energy 800 30 Conectiv 1,200 29 Teco Energy 1,100 29 Hawaiian Electric Industries 700 28 Puget Energy (S) 1,200 26 Otter Tail 900 26 Allete 1,000 25 Madison Gas & Electric 800 21 IDACORP 500 20 Unisource Energy 1,100 20 DQE (S) 900 17 Central Vermont Public Service 1,000 17 OGE Energy 600 14 Montana Power * 2,300 13 Cleco 600 13 Empire District Electronics 600 13 El Paso Electric * 800 12 PNM Resources 400 11 United Illuminating 200 10 Reliant Resources * 600 10 NRG Energy * 500 8 ---------- 4,532 ---------- Gas Utilities 0.5% El Paso 7,444 332 Kinder Morgan 1,900 106 Sempra Energy 3,451 85 NiSource 2,908 67 KeySpan 1,900 66 National Fuel Gas (S) 1,600 39 WGL (S) 1,300 38 Peoples Energy (S) 900 34 NICOR 800 33 ONEOK 1,600 28 Laclede 1,000 24 Cascade Natural Gas 1,000 22 Southern Union (S) 1,037 20 Atmos Energy (S) 600 13 66 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Shares/Par Value -------------------------------------------------------------------------------- In thousands Southwestern Energy * 1,100 $ 11 Piedmont Natural Gas 300 11 ---------- 929 ---------- Multi-Utilities 0.3% Williams Companies 8,085 207 Dynegy (Class A) 4,836 123 Energy East 1,700 32 UtiliCorp United 1,200 30 Vectren 1,200 29 MDU Resources 1,000 28 Questar 1,100 28 SCANA 968 27 Western Resources 1,400 24 Sierra Pacific Resources (S) 1,400 21 Avista 1,300 17 Northwestern Public Service (S) 800 17 Covanta Energy * 1,400 6 Newpower *(S) 1,200 1 ---------- 590 ---------- Water Utilities 0.0% American Water Works 1,500 63 California Water Service 800 20 Philadelphia Suburban (S) 875 20 ---------- 103 ---------- Total Utilities 6,154 ---------- Total Common Stocks (Cost $207,245) 194,737 ---------- SHORT-TERM INVESTMENTS 3.5% U.S. Treasury Obligations 0.2% U.S. Treasury Bills 1.71%, 3/28/02 $ 450,000 448 ---------- 448 ---------- Money Market Fund 3.3% T. Rowe Price Reserve Investment Fund, 2.43% # 6,590,192 6,590 ---------- 6,590 ---------- Total Short-Term Investments (Cost $7,038) 7,038 ---------- 67
T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND ------------------------------------------------------------------------------------------------------------- Shares/Par Value ------------------------------------------------------------------------------------------------------------- In thousands Total Investments in Securities 102.0% of Net Assets (Cost $214,283) $ 201,775 Futures Contracts Contract Unrealized Expiration Value Gain (Loss) ---------- ------- ----------- In thousands Long, 8 S&P 500 Stock Index contracts, $140,000 of U.S. Treasury Bills pledged as initial margin 3/02 $ 2,298 $ 50 Long, 3 Russell 2000 Stock Index contracts, $57,000 of U.S. Treasury Bills pledged as initial margin 3/02 734 15 Long, 1 S&P Mid Cap 400 Stock Index contracts, $13,000 of U.S. Treasury Bills pledged as initial margin 3/02 255 4 Net payments (receipts) of variation margin to date (99) ---------- ------- ----------- Variation margin receivable (payable) on open futures contracts (30) Other Assets Less Liabilities (3,970) -------- NET ASSETS $ 197,775 ---------
# Seven-day yield * Non-income producing (S) All or a portion of this security is on loan at December 31, 2001 - See Note 2 ++ Securities contains restrictions as to public resale pursuant to the Securities Act of 1933 and related rules--total of such securities at year-end amounts to $12,000 and represents .006% of net assets ADR American Depository Receipts REIT Real Estate Investment Trust The accompanying notes are an integral part of these financial statements. 68 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- December 31, 2001 ----------------------------------- STATEMENT OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- In thousands Assets Investments in securities, at value (cost 214,283) $ 201,775 Securities lending collateral 10,070 Other assets 787 --------- Total assets 212,632 --------- Liabilities Obligation to return securities lending collateral 10,070 Other liabilities 4,787 --------- Total liabilities 14,857 --------- NET ASSETS $ 197,775 --------- Net Assets Consist of: Undistributed net realized gain (loss) $ (6,482) Net unrealized gain (loss) (12,439) Paid-in-capital applicable to 17,284,958 shares of $0.0001 par value capital stock outstanding; 1,000,000,000 shares of the Corporation authorized 216,696 --------- NET ASSETS $ 197,775 --------- NET ASSET VALUE PER SHARE $ 11.44 --------- The accompanying notes are an integral part of these financial statements. 69 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- ----------------------- STATEMENT OF OPERATIONS -------------------------------------------------------------------------------- In thousands Year Ended 12/31/01 Investment Income (Loss) Income Dividend $ 2,372 Interest 188 Security lending 83 Other 2 ---------- Total income 2,645 ---------- Expenses Investment management and administrative 766 ---------- Net investment income (loss) 1,879 ---------- Realized and Unrealized Gain (Loss) Net realized gain (loss) Securities (5,883) Futures (685) ---------- Net realized gain (loss) (6,568) ---------- Change in net unrealized gain (loss) Securities (18,568) Futures 160 ---------- Change in net unrealized gain (loss) (18,408) ---------- Net realized and unrealized gain (loss) (24,976) ---------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS $ (23,097) ---------- The accompanying notes are an integral part of these financial statements. 70 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- ---------------------------------- STATEMENT OF CHANGES IN NET ASSETS -------------------------------------------------------------------------------- In thousands
Year Ended 12/31/01 12/31/00 Increase (Decrease) in Net Assets Operations Net investment income (loss) $ 1,879 $ 1,836 Net realized gain (loss) (6,568) 1,862 Change in net unrealized gain (loss) (18,408) (27,031) ------------------------- Increase (decrease) in net assets from operations (23,097) (23,333) ------------------------- Distributions to shareholders Net investment income (1,850) (1,731) Net realized gain (168) (1,888) ------------------------- Decrease in net assets from distributions (2,018) (3,619) ------------------------- Capital share transactions * Shares sold 61,755 108,391 Distributions reinvested 1,918 3,454 Shares redeemed (46,844) (78,296) Redemption fees received 3 34 ------------------------- Increase (decrease) in net assets from capital share transactions 16,832 33,583 ------------------------- Net Assets Increase (decrease) during period (8,283) 6,631 Beginning of period 206,058 199,427 ------------------------- End of period $ 197,775 $ 206,058 ------------------------- *Share information Shares sold 5,263 7,509 Distributions reinvested 170 258 Shares redeemed (3,975) (5,446) -------------------------- Increase (decrease) in shares outstanding 1,458 2,321
The accompanying notes are an integral part of these financial statements. 71 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- December 31, 2001 ----------------------------- NOTES TO FINANCIAL STATEMENTS -------------------------------------------------------------------------------- NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES T. Rowe Price Index Trust, Inc. (the trust) is registered under the Investment Company Act of 1940. The Total Equity Market Index Fund (the fund), a diversified, open-end management investment company, is one of the portfolios established by the trust and commenced operations on January 30, 1998. The fund seeks to match the performance of the entire U.S. stock market, as represented by the Wilshire 5000 Total Market Index. The accompanying financial statements were prepared in accordance with generally accepted accounting principles, which require the use of estimates made by fund management. Valuation Equity securities listed or regularly traded on a securities exchange are valued at the last quoted sales price at the time the valuations are made. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day and securities regularly traded in the over-the-counter market are valued at the mean of the latest bid and asked prices. Other equity securities are valued at a price within the limits of the latest bid and asked prices deemed by the Board of Directors, or by persons delegated by the Board, best to reflect fair value. Short-term debt securities are valued at amortized cost in local currency which, when combined with accrued interest, approximates fair value. Investments in mutual funds are valued at the closing net asset value per share of the mutual fund on the day of valuation. Financial futures contracts and options on futures contracts are valued at closing settlement prices. Assets and liabilities for which the above valuation procedures are inappropriate or are deemed not to reflect fair value are stated at fair value as determined in good faith by or under the supervision of the officers of the fund, as authorized by the Board of Directors. Premiums and Discounts Premiums and discounts on debt securities are amortized for financial reporting purposes. Redemption Fees The fund assesses a 0.5% fee on redemptions of fund shares held less than six months. Such fees are retained by the fund, and have the primary effect of increasing paid-in-capital. 72 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- Other Income and expenses are recorded on the accrual basis. Investment transactions are accounted for on the trade date. Realized gains and losses are reported on the identified cost basis. Dividend income and distributions to shareholders are recorded by the fund on the ex-dividend date. Income and capital gain distributions are determined in accordance with federal income tax regulations and may differ from net investment income and realized gains determined in accordance with generally accepted accounting principles. Payments ("variation margin") made or received by the fund to settle the daily fluctuations in the value of futures contacts are recorded as unrealized gains or losses until the contracts are closed. Unrealized gains and losses on futures contracts are included in Changes in net unrealized gain or loss in the accompanying financial statements. NOTE 2 - INVESTMENT TRANSACTIONS Consistent with its investment objective, the fund engages in the following practices to manage exposure to certain risks or enhance performance. The investment objective, policies, program, and risk factors of the fund are described more fully in the fund's prospectus and Statement of Additional Information. Futures Contracts During the year ended December 31, 2001, the fund was a party to futures contracts, which provide for the future sale by one party and purchase by another of a specified amount of a specific financial instrument at an agreed upon price, date, time, and place. Risks arise from possible illiquidity of the futures market and from movements in security values. Securities Lending The fund lends its securities to approved brokers to earn additional income. It receives as collateral cash and U.S. government securities valued at 102%-105% of the value of the securities on loan. Cash collateral is invested in a money market pooled account by the fund's lending agent. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities, as determined at the close of fund business each day; any additional collateral required due to changes in security values is delivered to the fund the next business day. Although risk is mitigated by the collateral, the fund could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities. At December 31, 2001, the value of loaned securities was $9,482,000; aggregate collateral consisted of $10,070,000 in the securities lending collateral pool. Other Purchases and sales of portfolio securities, other than short-term securities, aggregated $33,271,000 and $16,255,000, respectively, for the year ended December 31, 2001. 73 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- NOTE 3 - FEDERAL INCOME TAXES No provision for federal income taxes is required since the fund intends to continue to qualify as a regulated investment company and distribute to shareholders all of its taxable income and capital gains. Because federal income tax regulations differ from generally accepted accounting principles, income and capital gain distributions determined in accordance with tax regulations may differ from net investment income and realized gains recognized for financial reporting purposes. Accordingly, the character of distributions and composition of net assets for tax purposes differ from those reflected in the accompanying financial statements. Distributions during the year ended December 31, 2001 were characterized as follows for tax purposes: --------------------------------------------------------------------------- Ordinary income $ 1,850,000 Long-term capital gain 168,000 ----------- Total distributions $ 2,018,000 ----------- The tax-basis components of net assets at December 31, 2001 were as follows: ---------------------------------------------------------------------------- Unrealized appreciation $ 25,789,000 Unrealized depreciation (38,427,000) ------------ Net unrealized appreciation (depreciation) (12,638,000) Capital loss carryforwards (6,283,000) ------------ Distributable earnings (18,921,000) Paid-in capital 216,696,000 ------------ Net assets $197,775,000 ------------ Pursuant to federal income tax regulations applicable to investment companies, the fund has elected to treat net capital losses realized between November 1 and December 31 of each year as occurring on the first day of the following tax year. For the year ended December 31, 2001, $130,000 of realized capital losses reflected in the accompanying financial statements will not be recognized for federal income tax purposes until 2002. Further, federal income tax regulations require the fund to treat the gain/loss on certain open futures contracts as realized on the last day of the tax year; accordingly, $70,000 of unrealized gains reflected in the accompanying financial statements were realized for tax purposes as of December 31, 2001. The fund intends to retain realized capital 74 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- gains that may be offset against available capital loss carryforwards for federal income tax purposes. As of December 31, 2001, the fund has $6,283,000 of capital loss carryforwards that expire in 2009. For financial reporting purposes, capital accounts and distributions to shareholders are adjusted to reflect the tax character of permanent book/tax differences. For the year ended December 31, 2001, the fund recorded the following permanent reclassifications. Results of operations and net assets were not affected by these reclassifications. --------------------------------------------------------------------------- Undistributed net investment income $ (29,000) Undistributed net realized gain 107,000 Paid-in-capital (78,000) At December 31, 2001, the cost of investments for federal income tax purposes was $214,483,000. NOTE 4 - RELATED PARTY TRANSACTIONS The fund is managed by T. Rowe Price Associates, Inc. (the manager or Price Associates), a wholly owned subsidiary of T. Rowe Price Group. The investment management and administrative agreement between the fund and the manager provides for an all-inclusive annual fee, of which $126,000 was payable at December 31, 2001. The fee, computed daily and paid monthly, is equal to 0.40% of the fund's average daily net assets. The agreement provides that investment management, shareholder servicing, transfer agency, accounting, and custody services are provided to the fund, and interest, taxes, brokerage commissions, directors' fees and expenses, and extraordinary expenses are paid directly by the fund. The fund may invest in the T. Rowe Price Reserve Investment Fund and T. Rowe Price Government Reserve Investment Fund (collectively, the Reserve Funds), open-end management investment companies managed by Price Associates. The Reserve Funds are offered as cash management options only to mutual funds and other accounts managed by Price Associates and/or its affiliates, and are not available to the public. The Reserve Funds pay no investment management fees. Distributions from the Reserve Funds to the fund for the year ended December 31, 2001, totaled $160,000 and are reflected as interest income in the accompanying Statement of Operations. 75 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- --------------------------------- REPORT OF INDEPENDENT ACCOUNTANTS -------------------------------------------------------------------------------- To the Board of Directors of T. Rowe Price Index Trust, Inc. and Shareholders of T. Rowe Price Total Equity Market Index Fund In our opinion, the accompanying statement of assets and liabilities, including the portfolio of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of T. Rowe Price Total Equity Market Index Fund (one of the portfolios comprising T. Rowe Price Index Trust, Inc., hereafter referred to as the "Fund") at December 31, 2001, and the results of its operations, the changes in its net assets and the financial highlights for each of the fiscal periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at December 31, 2001 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Baltimore, Maryland January 18, 2002 76 T. ROWE PRICE TOTAL EQUITY MARKET INDEX FUND -------------------------------------------------------------------------------- ----------------------------------------------------------- TAX INFORMATION (UNAUDITED) FOR THE TAX YEAR ENDED 12/31/01 -------------------------------------------------------------------------------- We are providing this information as required by the Internal Revenue Code. The amounts shown may differ from those elsewhere in this report because of differences between tax and financial reporting requirements. The fund's distributions to shareholders included $168,000 from long-term capital gains, subject to the 20% rate gains category. For corporate shareholders, $1,879,000 of the fund's distributed income and short-term capital gains qualified for the dividends-received deduction. 77 T. ROWE PRICE INVESTMENT SERVICES AND INFORMATION -------------------------------------------------------------------------------- INVESTMENT SERVICES AND INFORMATION KNOWLEDGEABLE SERVICE REPRESENTATIVES By Phone 1-800-225-5132. Available Monday through Friday from 7 a.m. until midnight ET and weekends from 8:30 a.m. until 5 p.m. ET. In Person. Available in T. Rowe Price Investor Centers. Please call a service representative at 1-800-225-5132 or visit the Web at www.troweprice.com/investorcenter to locate a center near you. ACCOUNT SERVICES Automated 24-Hour Services Including Tele*Access(R)and Account Access through the T. Rowe Price Web site on the Internet. Address: www.troweprice.com. Automatic Investing. From your bank account or paycheck. Automatic Withdrawal. Scheduled, automatic redemptions. IRA Rebalancing. Ensuring that your accounts reflect your desired asset allocation. BROKERAGE SERVICES * Individual Investments. Stocks, bonds, options, precious metals, and other securities at a savings over full-service commission rates. INVESTMENT INFORMATION Consolidated Statement. Overview of all of your accounts. Shareholder Reports. Manager reviews of their strategies and results. T. Rowe Price Report. Quarterly investment newsletter. Performance Update. Quarterly review of all T. Rowe Price fund results. Insights. Educational reports on investment strategies and markets. Investment Guides. Asset Mix Worksheet, Diversifying Overseas: A Guide to International Investing, Retirement Planning Kit, Retirement Readiness Guide, and Tax Considerations Guide. * T. Rowe Price Brokerage is a division of T. Rowe Price Investment Services, Inc., Member NASD/SIPC. 78 T. ROWE PRICE PLANNING TOOLS AND SERVICES -------------------------------------------------------------------------------- T. ROWE PRICE RETIREMENT SERVICES T. Rowe Price offers unique retirement resources that can help you meet a broad variety of planning challenges. Our retirement tools are suitable for individuals, the self-employed, small businesses, corporations, and nonprofit organizations. We also provide recordkeeping, communications, and investment management services. For more information, call us at 1-800-IRA-5000, or visit our Web site at www.troweprice.com. PLANNING TOOLS AND SERVICES ---------------------------------------------------------------------- T. Rowe Price(R) Retirement Income Manager helps retirees or those within two years of retirement determine how much income they can draw down in retirement. The program uses extensive statistical analysis and the input of a T. Rowe Price Advisory Counselor to suggest an income plan that best meets your objectives. Retirement Income Calculator. This free calculator, incorporating the analytic approach of the T. Rowe Price Retirement Income Manager program, simulates 500 potential market scenarios to estimate the probability of maintaining an income strategy throughout retirement. Rollover Investment Service offers asset allocation and fund selection advice to those planning a 401(k) rollover from a previous employer after changing jobs or retiring. IRA Rebalancing Service. T. Rowe Price will rebalance your IRA at the end of every quarter by exchanging shares between mutual fund accounts. This ensures that your accounts reflect your desired asset allocation. Quality Information. Thousands of investors have made their personal choices with the help of our Retirement Readiness Guide, Retirement Planning Kit, IRA Insights, and Retirement Planning Worksheet. INVESTMENT VEHICLES ---------------------------------------------------------------------- Individual Retirement Accounts (IRAs) No-Load Variable Annuities Small Business Retirement Plans 79 T. ROWE PRICE MUTUAL FUNDS -------------------------------------------------------------------------------- STOCK FUNDS -------------------------------------------------------------------------------- Domestic Blue Chip Growth* Capital Appreciation Capital Opportunity Developing Technologies Diversified Small-Cap Growth Dividend Growth Equity Income* Equity Index 500 Extended Equity Market Index Financial Services Growth & Income Growth Stock* Health Sciences Media & Telecommunications Mid-Cap Growth* Mid-Cap Value New America Growth New Era New Horizons** Real Estate Science & Technology* Small-Cap Stock* Small-Cap Value* Spectrum Growth Tax-Efficient Growth Tax-Efficient Multi-Cap Growth Total Equity Market Index Value* BLENDED ASSET FUNDS -------------------------------------------------------------------------------- Balanced Personal Strategy Balanced Personal Strategy Growth Personal Strategy Income Tax-Efficient Balanced BOND FUNDS -------------------------------------------------------------------------------- Domestic Taxable Corporate Income GNMA High Yield* New Income Short-Term Bond Spectrum Income Summit GNMA U.S. Bond Index U.S. Treasury Intermediate U.S. Treasury Long-Term Domestic Tax-Free California Tax-Free Bond Florida Intermediate Tax-Free Georgia Tax-Free Bond Maryland Short-Term Tax-Free Bond Maryland Tax-Free Bond New Jersey Tax-Free Bond New York Tax-Free Bond Summit Municipal Income Summit Municipal Intermediate Tax-Free High Yield Tax-Free Income Tax-Free Intermediate Bond Tax-Free Short-Intermediate Virginia Tax-Free Bond MONEY MARKET FUNDS+ -------------------------------------------------------------------------------- Taxable Prime Reserve Summit Cash Reserves U.S. Treasury Money Tax-Free California Tax-Free Money Maryland Tax-Free Money New York Tax-Free Money Summit Municipal Money Market Tax-Exempt Money INTERNATIONAL/GLOBAL FUNDS -------------------------------------------------------------------------------- Stock Emerging Europe & Mediterranean Emerging Markets Stock European Stock Global Stock Global Technology International Discovery** International Equity Index International Growth & Income International Stock* Japan Latin America New Asia Spectrum International Bond Emerging Markets Bond International Bond* For more information about T. Rowe Price funds or services, please contact us directly at 1-800-225-5132. * T. Rowe Price Advisor Class available for these funds. The T. Rowe Price Advisor Class is offered only through financial intermediaries. For more information about T. Rowe Price Advisor Class funds, contact your financial professional or T. Rowe Price at 1-877-804-2315. ** Closed to new investors. + Investments in the funds are not insured or guaranteed by the FDIC or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds. Please call for a prospectus, which contains complete information, including risks, fees, and expenses. Read it carefully before investing. Invest With Confidence [LOGO] T. ROWE PRICE T. Rowe Price Investment Services, Inc. 100 East Pratt Street Baltimore, MD 21202