<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000075170
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE OTC FUND, INC.
001 B000000 811-696
001 C000000 4105472000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
015 A00AA02 THE CHASE MANHATTAN BANK, N.A.
015 B00AA02 S
015 C01AA02 LONDON
015 D01AA02 ENGLAND
015 D02AA02 EC2P 2HD
015 E04AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 69
019 C00AA00 TROWEPRICE
020 A000001 INSTINET
020 B000001 13-3443395
020 C000001 58
020 A000002 PAINE WEBBER
020 B000002 13-2638166
020 C000002 11
020 A000003 INVEMED ASSOCIATES
020 B000003 13-2782614
020 C000003 8
020 A000004 BRIDGE TRADING
020 B000004 43-1450530
020 C000004 7
020 A000005 BEAR STEARNS
<PAGE> PAGE 2
020 B000005 13-3299429
020 C000005 4
020 A000006 REINHEIMER NORDBERG
020 B000006 13-2975128
020 C000006 3
020 A000007 RAYMOND JAMES FINANCIAL
020 B000007 59-1237041
020 C000007 3
020 A000008 ALEX BROWN
020 B000008 52-1319768
020 C000008 2
020 A000009 CLEARY GULL REILAND
020 B000009 39-1567700
020 C000009 2
020 A000010 LEWCO SECS
020 B000010 13-2765944
020 C000010 2
021 000000 109
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 138402
022 D000001 2250
022 A000002 BANKERS TRUST
022 B000002 13-4941247
022 C000002 59831
022 D000002 0
022 A000003 LEHMAN BROTHERS
022 B000003 13-2518466
022 C000003 48650
022 D000003 675
022 A000004 FIRST BOSTON
022 B000004 13-5659485
022 C000004 31639
022 D000004 1840
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 29569
022 D000005 1352
022 A000006 JP MORGAN
022 B000006 13-3224016
022 C000006 18268
022 D000006 206
022 A000007 SMITH BARNEY SHEARSON
022 B000007 13-1912900
022 C000007 3865
022 D000007 3735
022 A000008 PAINE WEBBER
022 B000008 13-2638166
022 C000008 3995
022 D000008 1893
022 A000009 SALOMON BROTHERS
<PAGE> PAGE 3
022 B000009 13-3082694
022 C000009 4641
022 D000009 1056
022 A000010 ROBERTSON STEPHENS
022 B000010 94-2524501
022 C000010 380
022 D000010 4072
023 C000000 374469
023 D000000 30256
024 00AA00 N
028 A01AA00 9778
028 A02AA00 0
028 A03AA00 0
028 A04AA00 3693
028 B01AA00 7901
028 B02AA00 0
028 B03AA00 0
028 B04AA00 2755
028 C01AA00 5041
028 C02AA00 0
028 C03AA00 0
028 C04AA00 4351
028 D01AA00 2830
028 D02AA00 0
028 D03AA00 0
028 D04AA00 3455
028 E01AA00 1844
028 E02AA00 0
028 E03AA00 0
028 E04AA00 4602
028 F01AA00 4570
028 F02AA00 0
028 F03AA00 0
028 F04AA00 4036
028 G01AA00 31964
028 G02AA00 0
028 G03AA00 0
028 G04AA00 22892
028 H00AA00 0
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
<PAGE> PAGE 4
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 Y
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 Y
070 M02AA00 Y
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 70784
071 B00AA00 68805
071 C00AA00 189871
071 D00AA00 36
072 A00AA00 6
072 B00AA00 1007
072 C00AA00 992
072 D00AA00 0
072 E00AA00 0
<PAGE> PAGE 5
072 F00AA00 854
072 G00AA00 0
072 H00AA00 0
072 I00AA00 257
072 J00AA00 28
072 K00AA00 7
072 L00AA00 10
072 M00AA00 6
072 N00AA00 22
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 43
072 R00AA00 9
072 S00AA00 3
072 T00AA00 0
072 U00AA00 0
072 V00AA00 0
072 W00AA00 -19
072 X00AA00 1220
072 Y00AA00 0
072 Z00AA00 779
072AA00AA00 13286
072BB00AA00 0
072CC01AA00 16125
072CC02AA00 0
072DD01AA00 0
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 1
074 B00AA00 0
074 C00AA00 32126
074 D00AA00 5300
074 E00AA00 1039
074 F00AA00 201656
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 1918
074 K00AA00 0
074 L00AA00 544
074 M00AA00 0
074 N00AA00 242584
074 O00AA00 5992
074 P00AA00 52
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
<PAGE> PAGE 6
074 R03AA00 0
074 R04AA00 552
074 S00AA00 0
074 T00AA00 235988
074 U01AA00 14920
074 U02AA00 0
074 V01AA00 15.82
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 20261
074 Y00AA00 434
075 A00AA00 0
075 B00AA00 217766
076 00AA00 0.00
077 A000000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 55000000
081 A00AA00 Y
081 B00AA00 71
082 A00AA00 Y
082 B00AA00 100000
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
025 A000101 DELETE
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
SIGNATURE JAMES S. RIEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000075170
<NAME> T. ROWE PRICE OTC FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 190549
<INVESTMENTS-AT-VALUE> 240121
<RECEIVABLES> 2462
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 242584
<PAYABLE-FOR-SECURITIES> 5992
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 604
<TOTAL-LIABILITIES> 6596
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 166522
<SHARES-COMMON-STOCK> 14920
<SHARES-COMMON-PRIOR> 14253
<ACCUMULATED-NII-CURRENT> 864
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 19030
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 49572
<NET-ASSETS> 235988
<DIVIDEND-INCOME> 992
<INTEREST-INCOME> 1007
<OTHER-INCOME> 0
<EXPENSES-NET> 1220
<NET-INVESTMENT-INCOME> 779
<REALIZED-GAINS-CURRENT> 13286
<APPREC-INCREASE-CURRENT> 16125
<NET-CHANGE-FROM-OPS> 30190
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2231
<NUMBER-OF-SHARES-REDEEMED> 1565
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 39262
<ACCUMULATED-NII-PRIOR> 85
<ACCUMULATED-GAINS-PRIOR> 5744
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 854
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1220
<AVERAGE-NET-ASSETS> 217766
<PER-SHARE-NAV-BEGIN> 13.80
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 1.97
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.82
<EXPENSE-RATIO> 1.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
