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T. ROWE PRICE
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STATE TAX-FREE INCOME TRUST
New York Tax-Free Bond Fund
New York Tax-Free Money Fund
Supplement to Prospectus dated July 1, 1994
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The following sentences will be added at the end of the footnotes
in Table 1 under the section "Transaction and Fund Expenses" on
page 2 of the prospectus.
Effective March 1, 1995, T. Rowe Price agreed to extend the
existing expense limitation of 0.55% for the Money Fund, and
to increase the existing expense limitation of 0.60% to
0.65% for the Bond Fund, for a period of two years from
March 1, 1995. Subject to shareholder approval, fees waived
or expenses paid or assumed under these agreements are
subject to reimbursement to T. Rowe Price by each fund
whenever the expense ratio is below 0.55% for the Money Fund
or 0.65% for the Bond Fund, however, no reimbursement will
be made after February 28, 1999, or if it would result in
the expense ratio exceeding 0.55% for the Money Fund or
0.65% for the Bond Fund.
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The date of this supplement is February 28, 1995.
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