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 *
HOPKINS HENRY H
   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)
08/30/2006
(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 08/30/2006   M   11,200 A $ 9 2,243,620 (1) D  
Common Stock 08/30/2006   F   2,320 D $ 43.44 2,241,300 (1) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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               (2) 09/21/2011 Common Stock 6,200   6,200 (3) D  
Incentive Stock Option (right to buy) $ 13.67               (4) 07/30/2012 Common Stock 7,400   7,400 (3) D  
Incentive Stock Option (right to buy) $ 19.5               (5) 11/20/2010 Common Stock 9,400   9,400 (3) D  
Non-Qualified Stock Option (right to buy) $ 12.85               (2) 09/21/2011 Common Stock 13,800   13,800 (3) D  
Non-Qualified Stock Option (right to buy) $ 13.67               (4) 07/30/2012 Common Stock 12,600   12,600 (3) D  
Non-Qualified Stock Option (right to buy) $ 17.8594               (6) 11/18/2006 Common Stock 2,012   2,012 (3) D  
Non-Qualified Stock Option (right to buy) $ 19.5               (5) 11/20/2010 Common Stock 10,600   10,600 (3) D  
Stock Options (Right to buy) $ 15.375               (7) 09/03/2009 Common Stock 20,000   20,000 (3) D  
Stock Options (Right to buy) $ 21.725               (8) 12/11/2013 Common Stock 10,000   10,000 (3) D  
Stock Options (Right to buy) $ 9 08/30/2006   M     11,200   (9) 11/18/2006 Common Stock 11,200 $ 0 4,800 (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOPKINS HENRY H
100 E. PRATT STREET
BALTIMORE, MD 21202		       Vice President  

Signatures

 HENRY H HOPKINS   09/01/2006
**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).
(4) 07/30/2002 Grant - The option vests 20% annually over a 5 year period beginning on 07/30/2003.
(2) 09/21/2001 Grant - The option vests 20% annually over a 5 year period beginning on 09/21/2002.
(1) 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.
(5) 11/20/2000 Grant - The option vests 20% annually over a 5 year period beginning on 11/20/2001.
(9) 11/18/1996 Grant - The option vests 20% annually over a 5 year period beginning on 11/20/1997.
(7) 09/03/1999 Grant - The option vests 20% annually over a 5 year period beginning on 09/03/2000.
(3) This option, previously reported, has been adjusted to reflect a 2:1 stock split that occurred on June 23, 2006.
(8) 12/11/2003 Grant - The option vests 20% annually over a 5 year period beginning on 12/11/2004.
(6) 04/03/1998 Replenishment Grant - option vests 100% immediately.

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