<PAGE> PAGE 1
000 B000000 12/31/99
000 C000000 0000773485
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 NEW AMERICA GROWTH FUND
001 B000000 811-4358
001 C000000 4103452000
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 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 SALOMON SMITH BARNEY
020 B000001 11-2418191
020 C000001 302
020 A000002 BEAR STEARNS
020 B000002 13-3299429
020 C000002 215
020 A000003 BRIDGE TRADING
020 B000003 43-1450530
020 C000003 180
020 A000004 MORGAN STANLEY
020 B000004 13-2655998
020 C000004 167
020 A000005 DONALDSON LUFKIN & JENRETTE
020 B000005 13-2741729
020 C000005 153
020 A000006 GOLDMAN SACHS
020 B000006 13-5108880
020 C000006 148
020 A000007 C.S. FIRST BOSTON
<PAGE> PAGE 2
020 B000007 13-5659485
020 C000007 106
020 A000008 MERRILL LYNCH
020 B000008 13-5674085
020 C000008 94
020 A000009 CITATION GROUP
020 B000009 13-3144415
020 C000009 84
020 A000010 ROBERT BAIRD
020 B000010 39-6037917
020 C000010 83
021 000000 2561
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001 29056
022 D000001 69297
022 A000002 MORGAN STANLEY.
022 B000002 13-2655998
022 C000002 32389
022 D000002 61886
022 A000003 GOLDMAN SACHS
022 B000003 13-5108880
022 C000003 41666
022 D000003 27494
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 7638
022 D000004 35616
022 A000005 DONALDSON LUFKIN & JENRETTE
022 B000005 13-2741729
022 C000005 11678
022 D000005 25774
022 A000006 SALOMON SMITH BARNEY
022 B000006 11-2418191
022 C000006 10595
022 D000006 9930
022 A000007 BEAR STEARNS
022 B000007 13-3299429
022 C000007 8286
022 D000007 8278
022 A000008 CANTOR FITZGERALD & CO
022 B000008 13-3680184
022 C000008 9609
022 D000008 0
022 A000009 J.P. MORGAN
022 B000009 13-3224016
022 C000009 1275
022 D000009 7963
022 A000010 KNIGHT SECURITIES
022 B000010 13-3810923
022 C000010 1892
<PAGE> PAGE 3
022 D000010 5822
023 C000000 190684
023 D000000 282423
024 000000 Y
025 A000001 GOLDMAN SACHS
025 B000001 13-5108880
025 C000001 E
025 D000001 9419
025 A000002 DELETE
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 27615
028 A020000 0
028 A030000 0
028 A040000 36640
028 B010000 24324
028 B020000 0
028 B030000 0
028 B040000 40607
028 C010000 22848
028 C020000 0
028 C030000 0
028 C040000 42138
028 D010000 21913
028 D020000 0
028 D030000 0
028 D040000 37885
028 E010000 28414
028 E020000 0
028 E030000 0
028 E040000 62035
028 F010000 28756
028 F020000 204229
028 F030000 0
028 F040000 72946
028 G010000 153870
<PAGE> PAGE 4
028 G020000 204229
028 G030000 0
028 G040000 292251
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
<PAGE> PAGE 5
070 K020000 Y
070 L010000 Y
070 L020000 N
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 777241
071 B000000 1196459
071 C000000 1955456
071 D000000 40
072 A000000 12
072 B000000 3823
072 C000000 6511
072 D000000 0
072 E000000 0
072 F000000 13511
072 G000000 0
072 H000000 0
072 I000000 5007
072 J000000 63
072 K000000 89
072 L000000 168
072 M000000 10
072 N000000 72
072 O000000 0
072 P000000 0
072 Q000000 78
072 R000000 13
072 S000000 2
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 13
072 X000000 19026
072 Y000000 0
072 Z000000 -8692
072AA000000 306896
072BB000000 0
072CC010000 0
072CC020000 58606
072DD010000 0
072DD020000 0
<PAGE> PAGE 6
072EE000000 210030
073 A010000 0.0000
073 A020000 0.0000
073 B000000 5.4000
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 179035
074 D000000 0
074 E000000 0
074 F000000 1889409
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 29990
074 K000000 0
074 L000000 4018
074 M000000 0
074 N000000 2102452
074 O000000 32568
074 P000000 47
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 6327
074 S000000 0
074 T000000 2063510
074 U010000 42937
074 U020000 0
074 V010000 48.06
074 V020000 0.00
074 W000000 0.0000
074 X000000 59192
074 Y000000 0
075 A000000 0
075 B000000 2017987
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 N/A
080 C000000 60000
081 A000000 Y
081 B000000 125
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
<PAGE> PAGE 7
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE JAMES S. RIEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000773485
<NAME> T. ROWE PRICE NEW AMERICA GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1321476
<INVESTMENTS-AT-VALUE> 2068444
<RECEIVABLES> 34008
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2102452
<PAYABLE-FOR-SECURITIES> 32568
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6374
<TOTAL-LIABILITIES> 38942
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1191284
<SHARES-COMMON-STOCK> 42937
<SHARES-COMMON-PRIOR> 43199
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 125259
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 746967
<NET-ASSETS> 2063510
<DIVIDEND-INCOME> 6511
<INTEREST-INCOME> 3823
<OTHER-INCOME> 0
<EXPENSES-NET> 19026
<NET-INVESTMENT-INCOME> (8692)
<REALIZED-GAINS-CURRENT> 306896
<APPREC-INCREASE-CURRENT> (58606)
<NET-CHANGE-FROM-OPS> 239598
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (210030)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7061
<NUMBER-OF-SHARES-REDEEMED> (11908)
<SHARES-REINVESTED> 4585
<NET-CHANGE-IN-ASSETS> (938)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 37085
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13511
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19049
<AVERAGE-NET-ASSETS> 2017987
<PER-SHARE-NAV-BEGIN> 47.79
<PER-SHARE-NII> (0.2)
<PER-SHARE-GAIN-APPREC> 5.87
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (5.4)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 48.06
<EXPENSE-RATIO> 0.94
</TABLE>
