<PAGE> PAGE 1
000 B000000 12/31/99
000 C000000 0001012968
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 INSTITUTIONAL EQUITY FUNDS, INC.
001 B000000 811-07639
001 C000000 4103452000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 MID CAP EQUITY GROWTH FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 T. ROWE PRICE ASSOCIATES, INC.
008 B00AA01 A
008 C00AA01 801-856
008 D01AA01 BALTIMORE
008 D02AA01 MD
008 D03AA01 21202
011 A00AA01 T. ROWE PRICE INVESTMENT SERVICES, INC.
011 B00AA01 8-25130
011 C01AA01 BALTIMORE
011 C02AA01 MD
011 C03AA01 21202
012 A00AA01 T. ROWE PRICE SERVICES, INC.
012 B00AA01 84-1079
012 C01AA01 BALTIMORE
012 C02AA01 MD
012 C03AA01 21202
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
<PAGE> PAGE 2
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21202
014 A00AA01 T. ROWE PRICE INVESTMENT SERVICES, INC.
014 B00AA01 8-25130
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 88
019 C00AA00 TROWEPRICE
020 A000001 MORGAN STANLEY
020 B000001 13-2655998
020 C000001 35
020 A000002 DONALDSON LUFKIN & JENRETTE
020 B000002 13-2741729
020 C000002 29
020 A000003 BEAR STEARNS
020 B000003 13-3299429
020 C000003 25
020 A000004 GOLDMAN SACHS
020 B000004 13-5108880
020 C000004 22
020 A000005 SALOMON SMITH BARNEY
020 B000005 11-2418191
020 C000005 20
020 A000006 C.S. FIRST BOSTON
020 B000006 13-5659485
020 C000006 14
020 A000007 BNY-ESI & CO.
020 B000007 13-3989198
020 C000007 14
020 A000008 PIPER JAFFRAY
020 B000008 41-0953246
020 C000008 14
020 A000009 DEUTSCHE BANK SECURITIES
020 B000009 13-2730828
020 C000009 12
020 A000010 MERRILL LYNCH
020 B000010 13-5674085
020 C000010 11
021 000000 356
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 8352
022 D000001 5914
022 A000002 MORGAN STANLEY
<PAGE> PAGE 3
022 B000002 13-2655998
022 C000002 4919
022 D000002 5575
022 A000003 DONALDSON LUFKIN & JENRETTE
022 B000003 13-2741729
022 C000003 5321
022 D000003 1106
022 A000004 C.S. FIRST BOSTON
022 B000004 13-5659485
022 C000004 2403
022 D000004 3373
022 A000005 SALOMON SMITH BARNEY
022 B000005 11-2418191
022 C000005 2940
022 D000005 1777
022 A000006 DEUTSCHE BANK SECURITIES
022 B000006 13-2730828
022 C000006 3002
022 D000006 565
022 A000007 MORGAN J.P.
022 B000007 13-3224016
022 C000007 496
022 D000007 2931
022 A000008 LEHMAN BROTHERS
022 B000008 13-2518466
022 C000008 2046
022 D000008 1228
022 A000009 WARBURG DILLON READ
022 B000009 13-1939216
022 C000009 1161
022 D000009 1733
022 A000010 PAINE WEBBER GROUP
022 B000010 13-2638166
022 C000010 504
022 D000010 2208
023 C000000 53731
023 D000000 49065
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
<PAGE> PAGE 4
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.600
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
<PAGE> PAGE 5
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 Y
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
<PAGE> PAGE 6
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 N
066 D00AA00 Y
066 E00AA00 N
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
<PAGE> PAGE 7
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 N/A
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 125
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010100 4979
028 A020100 0
028 A030100 0
028 A040100 698
028 B010100 2494
028 B020100 0
028 B030100 0
028 B040100 2310
028 C010100 3113
028 C020100 0
028 C030100 0
028 C040100 3434
028 D010100 6982
028 D020100 0
028 D030100 0
028 D040100 298
028 E010100 3320
028 E020100 0
028 E030100 0
028 E040100 288
028 F010100 2397
028 F020100 3226
028 F030100 0
028 F040100 5223
028 G010100 23285
028 G020100 3226
028 G030100 0
028 G040100 12251
028 H000100 0
071 A000100 187191
071 B000100 106787
071 C000100 192755
071 D000100 55
072 A000100 12
072 B000100 466
<PAGE> PAGE 8
072 C000100 688
072 D000100 0
072 E000100 0
072 F000100 1238
072 G000100 0
072 H000100 0
072 I000100 11
072 J000100 42
072 K000100 1
072 L000100 4
072 M000100 7
072 N000100 22
072 O000100 0
072 P000100 0
072 Q000100 68
072 R000100 11
072 S000100 3
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 4
072 X000100 1411
072 Y000100 0
072 Z000100 -257
072AA000100 9423
072BB000100 0
072CC010100 42471
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 3557
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.2700
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 5577
074 D000100 0
074 E000100 0
074 F000100 259695
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 878
074 K000100 0
074 L000100 106
074 M000100 2
074 N000100 266258
074 O000100 360
074 P000100 7
<PAGE> PAGE 9
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 167
074 S000100 0
074 T000100 265724
074 U010100 13237
074 U020100 0
074 V010100 20.07
074 V020100 0.00
074 W000100 0.0000
074 X000100 49
074 Y000100 0
075 A000100 0
075 B000100 201397
076 000100 0.00
SIGNATURE JAMES RIEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001012968
<NAME> T.ROWE PRICE MID-CAP EQUITY GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 199554
<INVESTMENTS-AT-VALUE> 265272
<RECEIVABLES> 984
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 266258
<PAYABLE-FOR-SECURITIES> 360
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 175
<TOTAL-LIABILITIES> 535
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 194442
<SHARES-COMMON-STOCK> 13237
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5564
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 65718
<NET-ASSETS> 265724
<DIVIDEND-INCOME> 688
<INTEREST-INCOME> 466
<OTHER-INCOME> 0
<EXPENSES-NET> 1411
<NET-INVESTMENT-INCOME> (257)
<REALIZED-GAINS-CURRENT> 9423
<APPREC-INCREASE-CURRENT> 42471
<NET-CHANGE-FROM-OPS> 51637
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3557)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6333
<NUMBER-OF-SHARES-REDEEMED> (1355)
<SHARES-REINVESTED> 176
<NET-CHANGE-IN-ASSETS> 134149
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (45)
<GROSS-ADVISORY-FEES> 1238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1412
<AVERAGE-NET-ASSETS> 201397
<PER-SHARE-NAV-BEGIN> 16.28
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 4.08
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.27)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.07
<EXPENSE-RATIO> 0.7
</TABLE>