PRICE T ROWE NEW AMERICA GROWTH FUND
PRER14A, 2000-02-08
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                            SCHEDULE 14A INFORMATION

                Proxy Statement Pursuant to Section 14(a) of the
                        Securities Exchange Act of 1934
                               (Amendment No. __)

Filed by the Registrant  [X]
Filed by a party other than the Registrant                     [ ]
Check the appropriate box:
[X]   Preliminary Proxy Statement
[ ]   Definitive Proxy Statement
[ ]   Definitive Additional Materials
[ ]   Soliciting Material pursuant to Rule 14a-11(c) or Section Rule 14a-12
[ ]   Confidential, For Use of the Commission Only (as permitted by Rule
      14a-6(e)(2))

            T. Rowe Price New America Growth Fund 002-99122/811-4358
             T. Rowe Price Equity Series, Inc. 033-52161/811-07143
                          New America Growth Portfolio
       _________________________________________________________________
                (Name of Registrant as Specified in its Charter)

            T. Rowe Price New America Growth Fund 002-99122/811-4358
             T. Rowe Price Equity Series, Inc. 033-52161/811-07143
                          New America Growth Portfolio
        _______________________________________________________________
                   (Name of Person(s) Filing Proxy Statement)

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      3)
      Per unit price or other underlying value of transaction computed pursuant
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      ________________________________________________________

[ ]   Check box if any part of the fee is offset as provided by Exchange Act
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