T. Rowe Price Doubles Size of Colorado Springs Investment Services Center

Expansion Supports Continued Growth of Firm's Retail and Retirement Plan


Jan 16, 2008, 00:00 ET from T. Rowe Price

    COLORADO SPRINGS, Colo., Jan. 16 /PRNewswire-FirstCall/ -- Global
 investment management firm T. Rowe Price today officially opens its second
 building at its Colorado Springs campus, doubling its capacity here and
 positioning the firm to support anticipated growth needs. Located at 2220
 Briargate Parkway, T. Rowe Price's expanded facilities include a 145,000
 square foot, three-story building and an additional parking structure and
 will accommodate 650 associates, bringing capacity at the Colorado Springs
 campus to nearly 1,400 associates.
     T. Rowe Price currently employs more than 670 people in Colorado
 Springs, a 28% increase since June 2006 when the expansion plans were
 announced. Since it first opened a Colorado Springs office in November
 1998, the firm has grown from less than $150 billion in assets under
 management to $396.8 billion as of September 30, 2007.
     The Colorado Springs campus complements similar operations centers in
 Owings Mills, Md., and Tampa, Fla., and provides flexibility in servicing
 investors throughout the United States, as well as enhanced capability to
 serve the investment and administrative needs of the firm's shareholders
 and clients located in the western states. At complete build-out the
 31-acre site has the potential to accommodate four buildings and
 approximately 2,000 associates. T. Rowe Price also recently announced plans
 to expand its facilities in Owings Mills.
     Employees in Colorado Springs provide investment guidance and various
 client services to individual investors, retirement plan participants, and
 401(k) plan administrators.
     "Our expansion in Colorado Springs reflects the continued growth of our
 business as well as our goals to provide world-class service to our clients
 and a world-class work environment for our associates," said T. Rowe Price
 Vice Chairman Edward C. Bernard. "While T. Rowe Price continues to expand
 its operations around the world, Colorado Springs remains a strong fit with
 our culture and a critical part of our success. We expect that to continue
 for many years to come."
     "We continue to be very pleased with the talent pool, business
 environment and community relationships in Colorado Springs, as well as our
 partnership with the Colorado Springs Economic Development Corporation,"
 said Chris Hufman, vice president of T. Rowe Price Services, Inc. and
 general manager of the Colorado Springs Investment Services Center. "These
 were driving factors in our decision to expand, and should continue to
 support our firm's future growth and longstanding commitment to the area."
     Amenities in T. Rowe Price's Colorado Springs facility include a full
 service cafeteria, onsite fitness center, walking trails and ergonomically
 designed workstations. Additionally, the new building features energy-
 efficient design elements and maximum use of natural light.
     "T. Rowe Price continues to be an outstanding corporate citizen. We
 were delighted to assist them with their new expansion, which will add 650
 quality jobs and a welcome boost to our local economy," commented Mike
 Kazmierski, President and CEO of the Colorado Springs Economic Development
 Corporation. "Our relationship was established with T. Rowe Price prior to
 1998 and it has been a privilege to work with them over the years and
 support them in their needs as they continue to grow in our community."
     As part of its growth, the firm expects to hire an additional 60
 information technology professionals over the next three to five years.
 Individuals interested in employment can view available job openings at
     Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq:   TROW) is a
 global investment management firm that provides a broad array of mutual
 funds, sub- advisory services, and separate account management for
 individual and institutional investors, financial intermediaries, and
 retirement plans. The company also offers a variety of sophisticated
 investment planning and guidance tools. T. Rowe Price's disciplined,
 risk-aware investment approach focuses on diversification, style
 consistency, and fundamental research. More information is available at

SOURCE T. Rowe Price