T. Rowe Price Group Adds Renowned Educator Freeman Hrabowski As Independent Director

 T. Rowe Price Group Adds Renowned Educator Freeman Hrabowski As Independent

PR Newswire

BALTIMORE, Jan. 3, 2013

BALTIMORE, Jan. 3, 2013 /PRNewswire/ --T. Rowe Price Group, Inc. (NASDAQ-GS:
TROW) announced today that its board of directors has elected Freeman A.
Hrabowski, III, Ph.D., an independent director of the company.

(Photo: http://photos.prnewswire.com/prnh/20130103/PH35975 )

A long-time educator and administrator, Dr. Hrabowski has served as the
president of the University of Maryland, Baltimore County (UMBC) since 1992,
where he has helped turn the university into one of the most highly regarded
and innovative institutions in the United States. His research and
publications focus on science and math education, with special emphasis on
minority participation and performance, and he is a leading advocate for
greater diversity in higher education. TIME magazine last year named him one
of the 100 most influential people in the world.

Dr. Hrabowski serves on the boards of directors of McCormick & Company,
Incorporated and the Baltimore Equitable Society. He also serves on numerous
civic boards, including the Alfred P. Sloan Foundation, the Urban Institute,
the Marguerite Casey Foundation, and the France-Merrick Foundation. In
addition, he serves as a consultant to the National Science Foundation, the
National Institutes of Health, and the National Academies, and is the chair of
the newly created President's Advisory Commission on Educational Excellence
for African Americans.

"Freeman is a tremendous leader and brings valuable experience that will serve
the board and the firm well," said Brian C. Rogers, chairman of T. Rowe Price
Group. "His focus on helping others succeed fits in well with our mission and
our focus on financial education. Likewise, his leadership and dedication to
greater education and advancement of minorities in science, technology,
engineering, and mathematics (STEM) fields will play an important role in
maintaining global competitiveness and strengthening our work force and

Dr. Hrabowski holds a Ph.D. in higher education administration and statistics
and a Master of Arts degree in mathematics from the University of Illinois at
Urbana-Champaign. He also holds a Bachelor of Arts degree in mathematics from
Hampton Institute (now Hampton University).

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (troweprice.com) is
a global investment management organization with $574.4 billion in assets
under management as of September 30, 2012. The organization provides a broad
array of mutual funds, subadvisory services, and separate account management
for individual and institutional investors, retirement plans, and financial
intermediaries. The company also offers sophisticated investment planning and
guidance tools. T. Rowe Price's disciplined, risk-aware investment approach
focuses on diversification, style consistency, and fundamental research.

SOURCE T. Rowe Price Group, Inc.

Website: http://www.troweprice.com
Contact: Brian Lewbart, +1-410-345-2242, Bill Benintende, +1-410-345-3482, and
Kylie Muratore +1-410-345-2533 all with T. Rowe Price Group
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