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T. ROWE PRICE
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------------- Financial Services Fund, Inc.
Supplement to prospectus dated May 1, 1997
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Effective October 21, 1997, the paragraph entitled Portfolio
Management on page 15 of the prospectus will be replaced with the
following:
The fund has an Investment Advisory Committee comprising the
following members: Larry J. Puglia, Chairman, Anna M. Dopkin,
Robert N. Gensler, and Robert W. Sharps. The committee chairman
has day-to-day responsibility for managing the fund and works
with the committee in developing and executing the fund's
investment program. Mr. Puglia has been a member of the fund's
committee since its inception and was appointed chairman in
October 1997. He joined T. Rowe Price in 1990 and has been
managing investments since 1993.
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The date of this supplement is October 29, 1997.
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F17-041 10/29/97
