<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001012968
<NAME> T.ROWE PRICE INSTITUTIONAL SMALL CAP STOCK FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 68068
<INVESTMENTS-AT-VALUE> 74858
<RECEIVABLES> 297
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75163
<PAYABLE-FOR-SECURITIES> 412
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10
<TOTAL-LIABILITIES> 422
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72674
<SHARES-COMMON-STOCK> 7288
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 21
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (91)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 74741
<DIVIDEND-INCOME> 30
<INTEREST-INCOME> 6
<OTHER-INCOME> 0
<EXPENSES-NET> 15
<NET-INVESTMENT-INCOME> 21
<REALIZED-GAINS-CURRENT> (91)
<APPREC-INCREASE-CURRENT> 2137
<NET-CHANGE-FROM-OPS> 2067
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7288
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 74741
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15
<AVERAGE-NET-ASSETS> 8225
<PER-SHARE-NAV-BEGIN> 10
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0.26
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.26
<EXPENSE-RATIO> 0.75
</TABLE>
