T. Rowe Price Adding 1,400 New Jobs At Owings Mills Financial Campus

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T. Rowe Price Adding 1,400 New Jobs At Owings Mills Financial Campus

Towson, Md. (October 19, 2007) Baltimore County Executive Jim Smith joined Brian Rogers, chairman of the board of the T. Rowe Price Group, Inc., as the investment management firm announced a major expansion of its Owings Mills Financial Center campus. Plans are for two new buildings with 400,000 square feet of office space to accommodate 1,400 additional workers.

"With this announcement of 1,400 new jobs coming to Owings Mills, we celebrate the international success and stature of a Baltimore born-and-bred company," stated Baltimore County Executive Jim Smith. "T. Rowe Price is poised to take its place as Baltimore County's largest private employer."

The additional employees will be performing similar functions to the T. Rowe Price employees already working at the 34-acre Financial Center campus -- in the areas of retail mutual fund services, retirement plan services, marketing, information technology, and transaction processing. T. Rowe Price will retain the 2,600 employees currently working in the Owings Mills area, as well as the company's significant presence at the firm's downtown Baltimore headquarters.

"This plan reflects the ongoing growth in our business as well as ...our longstanding commitment to the Baltimore metropolitan area in general and the Owings Mills area in particular," said Brian C. Rogers, Chairman of the Board of the T. Rowe Price Group, Inc.

The two new buildings and parking garages, to be built on 38-acres adjacent to the Financial Center campus at Painters Mill and Lyons Mill Roads, are expected to open in late 2009. The buildings will be designed, constructed and operated according to the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, a nationally accepted benchmark for environmental health, sustainable site development, and energy conservation.