<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 080248
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 HORIZONS FUND, INC.
001 B000000 811-958
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
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 76
019 C000000 TROWEPRICE
020 A000001 INSTINET
020 B000001 13-3443395
020 C000001 762
020 A000002 BEAR STEARNS
020 B000002 13-3299429
020 C000002 197
020 A000003 PAINE WEBBER
020 B000003 13-2638166
020 C000003 186
020 A000004 GOLDMAN SACHS
020 B000004 13-5108880
020 C000004 145
020 A000005 DONALDSON LUFKIN JENRETTE
020 B000005 13-2741729
020 C000005 136
020 A000006 SMITH BARNEY SHEARSON
020 B000006 13-1912900
020 C000006 125
020 A000007 ALEX BROWN
<PAGE> PAGE 2
020 B000007 52-1319768
020 C000007 116
020 A000008 MORGAN STANLEY
020 B000008 13-2655998
020 C000008 111
020 A000009 FIRST BOSTON
020 B000009 13-5659485
020 C000009 102
020 A000010 WILLIAM BLAIR
020 B000010 36-2214610
020 C000010 100
021 000000 2957
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 1311620
022 D000001 212043
022 A000002 J.P. MORGAN
022 B000002 13-3224016
022 C000002 659589
022 D000002 7692
022 A000003 LEHMAN BROTHERS
022 B000003 13-2518466
022 C000003 512269
022 D000003 121651
022 A000004 DEUTSCHE BANK
022 B000004 13-6124068
022 C000004 517145
022 D000004 17881
022 A000005 CHASE SECURITIES
022 B000005 13-3379014
022 C000005 388256
022 D000005 98304
022 A000006 GMAC
022 B000006 38-0572512
022 C000006 459733
022 D000006 0
022 A000007 FIRST BOSTON
022 B000007 13-5659485
022 C000007 332314
022 D000007 99144
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008 305186
022 D000008 37525
022 A000009 SMITH BARNEY SHEARSON
022 B000009 13-1912900
022 C000009 186240
022 D000009 84974
022 A000010 MORGAN STANLEY
022 B000010 13-2655998
022 C000010 174639
<PAGE> PAGE 3
022 D000010 80735
023 C000000 6183245
023 D000000 1065878
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
028 A010000 139773
028 A020000 0
028 A030000 0
028 A040000 185513
028 B010000 91730
028 B020000 0
028 B030000 0
028 B040000 43613
028 C010000 89836
028 C020000 0
028 C030000 0
028 C040000 47751
028 D010000 137686
028 D020000 0
028 D030000 0
028 D040000 81681
028 E010000 106171
028 E020000 0
028 E030000 0
028 E040000 75951
028 F010000 86763
028 F020000 378036
028 F030000 0
028 F040000 77087
028 G010000 651959
028 G020000 378036
028 G030000 0
028 G040000 511596
028 H000000 0
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
<PAGE> PAGE 4
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
063 A000000 0
063 B000000 0.0
071 A000000 2463670
071 B000000 1491423
071 C000000 3603976
071 D000000 41
072 A000000 12
072 B000000 12608
072 C000000 6022
072 D000000 0
072 E000000 0
072 F000000 25875
072 G000000 0
072 H000000 0
072 I000000 7676
072 J000000 183
072 K000000 161
072 L000000 167
072 M000000 33
072 N000000 87
072 O000000 0
072 P000000 0
072 Q000000 100
072 R000000 28
072 S000000 11
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 48
072 X000000 34369
072 Y000000 0
072 Z000000 -15739
072AA000000 343501
072BB000000 0
072CC010000 213970
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 399616
073 A010000 0.0000
073 A020000 0.0000
073 B000000 2.1900
<PAGE> PAGE 5
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 69981
074 D000000 2823
074 E000000 7758
074 F000000 4285987
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 18119
074 K000000 0
074 L000000 7946
074 M000000 0
074 N000000 4392614
074 O000000 6711
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 22485
074 S000000 0
074 T000000 4363418
074 U010000 200439
074 U020000 0
074 V010000 21.77
074 V020000 0.00
074 W000000 0.0000
074 X000000 147877
074 Y000000 0
075 A000000 0
075 B000000 3801498
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 N/A
080 C000000 60000
081 A000000 Y
081 B000000 95
082 A000000 Y
082 B000000 100
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
<PAGE> PAGE 6
SIGNATURE JAMES S. RIEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000080248
<NAME> T. ROWE PRICE NEW HORIZONS FUND, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 3099883
<INVESTMENTS-AT-VALUE> 4366549
<RECEIVABLES> 25579
<ASSETS-OTHER> 486
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4392614
<PAYABLE-FOR-SECURITIES> 6710
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22486
<TOTAL-LIABILITIES> 29196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3113984
<SHARES-COMMON-STOCK> 200438409
<SHARES-COMMON-PRIOR> 139238701
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17232)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1266666
<NET-ASSETS> 4363418
<DIVIDEND-INCOME> 6022
<INTEREST-INCOME> 12608
<OTHER-INCOME> 0
<EXPENSES-NET> 34369
<NET-INVESTMENT-INCOME> (15739)
<REALIZED-GAINS-CURRENT> 343501
<APPREC-INCREASE-CURRENT> 213970
<NET-CHANGE-FROM-OPS> 541732
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 399616
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 83019
<NUMBER-OF-SHARES-REDEEMED> 39435
<SHARES-REINVESTED> 17615
<NET-CHANGE-IN-ASSETS> 1508873
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 54622
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 25875
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34369
<AVERAGE-NET-ASSETS> 3801498
<PER-SHARE-NAV-BEGIN> 20.50
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 3.54
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 2.19
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.77
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
