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T. ROWE PRICE
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International Funds, Inc.
T. Rowe Price International Stock Fund
T. Rowe Price International Discovery Fund
T. Rowe Price European Stock Fund
T. Rowe Price Japan Fund
T. Rowe Price New Asia Fund
T. Rowe Price Latin America Fund
T. Rowe Price Emerging Markets Stock Fund
T. Rowe Price Global Stock Fund
Supplement to prospectus dated March 1, 1998
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Effective December 1, 1998, Table 4, which provides information about each
fund's financial history, is updated to include the unaudited financial
statements for the six months ended April 30, 1998.
<TABLE>
Table 4 Financial Highlights
Footnotes are on page 9.
<CAPTION>
Income From Investment
Activities Less Distributions Net Asset Value
Period Net Asset Net Net Realized Total From Net Net Total Redemption Net Asset
Ended Value, Investment & Unrealized Investment Investment Realized Distributions Fees Added to Value, End
Beginning Income (Loss) Gain (Loss) on Activities Income Gain Paid-in-Capital of Period
of Period Investments
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
International Stock/a/
1998/s/ $14.14 $ 0.10 $ 1.88 $ 1.98 $(0.20) $(0.55) $(0.75) -- $15.37
International Discovery
1998/s/ $16.11 $ 0.01 $ 2.21 $ 2.22 -- $(0.25) $(0.25) -- $18.08
European Stock
1998/s/ $19.84 $ 0.11 $ 4.53 $ 4.64 $(0.25) $(1.01) $(1.26) -- $23.22
Japan
1998/s/ $ 7.97 $(0.01) $(0.94) $(0.95) -- -- -- -- $ 7.02
New Asia/j/
1998/s/ $ 5.95 $ 0.05 $(0.34) $(0.29) $(0.08) -- $(0.08) -- $ 5.58
Latin America
1998/s/ $ 9.60 $ 0.10 $ 1.49 $ 1.59 $(0.12) -- $(0.12) $0.02 $11.09
Emerging Markets Stock
1998/s/ $11.08 $ 0.01/p/ $ 1.33 $ 1.34 -- $(0.15) $(0.15) $0.02 $12.29
Global Stock
1998/s/ $13.01 $ 0.04/t/ $ 2.24 $ 2.28 $(0.06) $(0.53) $(0.59) -- $14.70
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<CAPTION>
</TABLE>
<PAGE>
<TABLE>
Table 4 Financial Highlights
Footnotes are
on page 9.
<CAPTION>
Returns, Ratios, and Supplemental Data
Total Return Ratio of Ratio of Net
Period (Includes Net Assets Expenses to Investment Portfolio Average
Ended Reinvested ($ Thousands) Average Net Income to Turnover Commission
Distributions) Assets Average Net Rate Rate Paid
Assets
<S> <C> <C> <C> <C> <C> <C> <S>
International Stock/a/
1998/s/ 14.80% $10,707,000 0.85%/m/ 1.36 %/m/ 6.3% $0.0047
International Discovery
1998/s/ 14.10% $ 252,024 1.43%/m/ 0.10 %/m/ 20.6% $0.0076
European Stock
1998/s/ 24.63% $ 1,362,000 1.05%/m/ 1.11 %/m/ 15.1% $0.0422
Japan
1998/s/ (11.92)% $ 152,353 1.27%/m/ (0.22)%/m/ 36.4% $0.0262
New Asia
1998/s/ (4.89)% $ 770,000 1.24%/m/ 1.45 %/m/ 33.6% $0.0061
Latin America
1998/s/ 16.84% $ 385,311 1.46%/m/ 1.69 %/m/ 6.8% --
Emerging Markets Stock
1998/s/ 12.38%/p/ $ 122,813 1.75%/mp/ 0.15 %/mp/ 27.5% $0.0008
Global Stock
1998/s/ 18.29%/t/ $ 42,125 1.20%/st/ 0.69 %/st/ 24.3% $0.0146
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</TABLE>
/a/All per-share figures reflect the 2-for-1 stock split effective August 31,
1987.
/j/
All per-share figures reflect the 2-for-1 stock split effective May 27, 1994.
/m/ Annualized.
/p/
Excludes expenses in excess of a 1.75% voluntary expense limitation in effect
through October 31, 1998.
/q/
For the period December 29, 1995 (commencement of operations) to October 31,
1996.
/r/
Excludes expenses in excess of a 1.30% voluntary expense limitation in effect
through October 31, 1997.
/s/ For the six-month period October 31, 1997, through April 30, 1998.
/t/
Excludes expenses in excess of a 1.20% voluntary expense limitation in effect
through October 31, 1999.
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The date of this supplement is December 1, 1998.
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C01-041 12/1/98
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