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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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SIGNATURE JAMES S. RIEPE
TITLE VICE PRESIDENT
[ARTICLE] 6
[CIK] 0000731890
[NAME] T. ROWE PRICE SHORT TERM BOND FUND, INC
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1995
[PERIOD-END] NOV-30-1994
[INVESTMENTS-AT-COST] 503327
[INVESTMENTS-AT-VALUE] 494148
[RECEIVABLES] 8114
[ASSETS-OTHER] 3403
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 505665
[PAYABLE-FOR-SECURITIES] 12638
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2842
[TOTAL-LIABILITIES] 15480
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 536263
[SHARES-COMMON-STOCK] 104525
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 295
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (37194)
[ACCUM-APPREC-OR-DEPREC] (9179)
[NET-ASSETS] 490185
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18192
[OTHER-INCOME] 0
[EXPENSES-NET] (2241)
[NET-INVESTMENT-INCOME] 15951
[REALIZED-GAINS-CURRENT] (20723)
[APPREC-INCREASE-CURRENT] 3111
[NET-CHANGE-FROM-OPS] (1661)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 15777
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 15018
[NUMBER-OF-SHARES-REDEEMED] 37528
[SHARES-REINVESTED] 2812
[NET-CHANGE-IN-ASSETS] (111739)
[ACCUMULATED-NII-PRIOR] 121
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (16471)
[GROSS-ADVISORY-FEES] 1225
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2241
[AVERAGE-NET-ASSETS] 550571
[PER-SHARE-NAV-BEGIN] 4.85
[PER-SHARE-NII] .15
[PER-SHARE-GAIN-APPREC] (.17)
[PER-SHARE-DIVIDEND] .14
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 4.69
[EXPENSE-RATIO] .81
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
