WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000316968
<NAME> T. ROWE PRICE PRIME RESERVE FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAY-31-2000
<PERIOD-END> MAY-31-2000
<INVESTMENTS-AT-COST> 5638582
<INVESTMENTS-AT-VALUE> 5638582
<RECEIVABLES> 68744
<ASSETS-OTHER> 10682
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5718038
<PAYABLE-FOR-SECURITIES> 26150
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2563
<TOTAL-LIABILITIES> 51213
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5616820
<SHARES-COMMON-STOCK> 5618313
<SHARES-COMMON-PRIOR> 5169019
<ACCUMULATED-NII-CURRENT> 735
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 698
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 5618253
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 306713
<OTHER-INCOME> 0
<EXPENSES-NET> 33085
<NET-INVESTMENT-INCOME> 273628
<REALIZED-GAINS-CURRENT> (82)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 273546
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (273628)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9281286
<NUMBER-OF-SHARES-REDEEMED> (9095273)
<SHARES-REINVESTED> 263286
<NET-CHANGE-IN-ASSETS> 449217
<ACCUMULATED-NII-PRIOR> 735
<ACCUMULATED-GAINS-PRIOR> 780
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19755
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 33092
<AVERAGE-NET-ASSETS> 5357381
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> 0.051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.051)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> 0.62
</TABLE>
