Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
OMELIA WAYNE D
   2. Issuer Name and Ticker or Trading Symbol
PRICE T ROWE GROUP INC [TROW] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President
(Last)
(First)
(Middle)
100 E. PRATT STREET		 3. Date of Earliest Transaction (Month/Day/Year)
06/30/2006
(Street)

BALTIMORE, MD 21202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/30/2006   A V 311.727 A $ 0 (1) 345,667.375 (2) D  
Common Stock               4,000 (2) I by Daughter
Common Stock               4,000 (2) I by Daughter 2
Common Stock               20,000 (2) I by Spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option (right to buy) $ 12.85               (3) 09/21/2011 Common Stock 7,600   7,600 (4) D  
Incentive Stock Option (right to buy) $ 13.67               (5) 07/30/2012 Common Stock 7,200   7,200 (4) D  
Incentive Stock Option (right to buy) $ 15.375               (6) 09/03/2009 Common Stock 6,600   6,600 (4) D  
Incentive Stock Option (right to buy) $ 15.6875               (7) 11/18/2007 Common Stock 6,000   6,000 (4) D  
Incentive Stock Option (right to buy) $ 17.875               (8) 12/21/2008 Common Stock 5,600   5,600 (4) D  
Incentive Stock Option (right to buy) $ 19.5               (9) 11/20/2010 Common Stock 5,000   5,000 (4) D  
Non-Qualified Stock Option (right to buy) $ 12.85               (3) 09/21/2011 Common Stock 62,400   62,400 (4) D  
Non-Qualified Stock Option (right to buy) $ 13.67               (5) 07/30/2012 Common Stock 72,800   72,800 (4) D  
Non-Qualified Stock Option (right to buy) $ 15.375               (6) 09/03/2009 Common Stock 53,400   53,400 (4) D  
Non-Qualified Stock Option (right to buy) $ 15.6875               (7) 11/18/2007 Common Stock 42,000   42,000 (4) D  
Non-Qualified Stock Option (right to buy) $ 17.875               (8) 12/21/2008 Common Stock 54,400   54,400 (4) D  
Non-Qualified Stock Option (right to buy) $ 19.5               (9) 11/20/2010 Common Stock 65,000   65,000 (4) D  
Stock Options (Right to buy) $ 21.725               (10) 12/11/2013 Common Stock 80,000   80,000 (4) D  
Stock Options (Right to buy) $ 30.775               (11) 12/20/2014 Common Stock 80,000   80,000 (4) D  
Stock Options (Right to buy) $ 32.62               (12) 10/03/2015 Common Stock 80,000   80,000 (4) D  
Stock Options (Right to buy) $ 36.175               (13) 11/18/2006 Common Stock 12,836   12,836 (4) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
OMELIA WAYNE D
100 E. PRATT STREET
BALTIMORE, MD 21202		       Vice President  

Signatures

 WAYNE D O'MELIA   07/14/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(7) 11/18/1997 Grant - The option vests 20% annually over a 5 year period beginning on 11/20/1998.
(5) 07/30/2002 Grant - The option vests 20% annually over a 5 year period beginning on 07/30/2003.
(3) 09/21/2001 Grant - The option vests 20% annually over a 5 year period beginning on 09/21/2002.
(12) 10/03/2005 Grant - The option vests 20% annually over a 5 year period beginning on 10/03/2006.
(11) 12/20/2004 Grant - The option vests 20% annually over a 5 year period beginning on 12/20/2005.
(2) At the close of business on June 23, 2006, the Common Stock of the issuer split 2:1 resulting in the reporting person's acquisition of one additional share of Common Stock for each share owned.
(9) 11/20/2000 Grant - The option vests 20% annually over a 5 year period beginning on 11/20/2001.
(8) 12/21/1998 Grant - The option vests 20% annually over a 5 year period beginning on 12/21/1999.
(6) 09/03/1999 Grant - The option vests 20% annually over a 5 year period beginning on 09/03/2000.
(4) This option, previously reported, has been adjusted to reflect a 2:1 stock split that occurred on June 23, 2006.
(1) ESPP - Shares acquired on 01/13/2006, 01/31/2006, 02/28/2006, 03/31/2006, 04/07/2006, 04/28/2006, 05/31/2006 and 06/30/2006 pursuant to the T. Rowe Price Group, Inc. Employee Stock Purchase Plan. Shares purchased at $38.0296, $38.3129, $38.5994, $39.0796, $40.9911, $42.5443, $39.5196 and $37.5675 per share, respectively.
(13) 12/20/2005 Replenishment Grant - option vests 100% immediately.
(10) 12/11/2003 Grant - The option vests 20% annually over a 5 year period beginning on 12/11/2004.

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