February 24, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: Rule 24f-2 Notice for
T. Rowe Price Science & Technology Fund, Inc.
100 East Pratt Street
Baltimore, Maryland 21202
File Number 33-16567
Gentlemen:
In accordance with the provisions of Rule 24f-2, the T. Rowe Price
Science & Technology Fund, Inc. ("Fund") hereby files its Rule 24f-2 Notice.
This "Rule 24f-2 Notice" is being filed for the fiscal year ending
December 31, 1994 ("Fiscal Year").
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29,623,393 shares of the capital stock of the Fund were sold during the
Fiscal Year.
All 29,623,393 shares of the capital stock of the Fund were sold during
the Fiscal Year in reliance upon the Declaration of the Fund of an indefinite
amount of securities under Rule 24f-2 ("24f-2 Declaration").
Attached to this Rule 24f-2 Notice, and made a part hereof, is an opinion
of counsel indicating that the securities, the registration of which the
Notice makes definite in number, were legally issued, fully paid, and
non-assessable.
In accordance with subsection (c) of Rule 24f-2, the registration fee in
the amount of $104,598.48 has been forwarded to Mellon Bank, Pittsburgh,
Pennsylvania. The fee computation is based upon the actual aggregate sale
price for which such securities were sold during the Fiscal Year, reduced by
the difference between:
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(1) The actual aggregate redemption price of the shares
redeemed by the Fund during the Fiscal Year, and
(2) The actual aggregate redemption price of such
redeemed shares previously applied by the Fund
pursuant to Rule 24e-2(a) in filings made pursuant
to Section 24(e)(1) of the Investment Company Act of
1940.
Aggregate Sale Price for Shares Sold
During Fiscal Year in Reliance Upon
the 24f-2 Declaration $582,571,487
Reduced by the Difference Between
(1) Aggregate Redemption Price
of Shares Redeemed During
the Fiscal Year $279,238,020
and,
(2) Aggregate Redemption Price
of Redeemed Shares Previously
Applied by Fund Pursuant to
Rule 24e-2(a) Filings Made
Pursuant to Section 24(e)(1) of
Investment Company Act of 1940 $ - 0 -
Equals $303,333,467
Any questions regarding the matter should be addressed to Henry H.
Hopkins, Esquire at the above address.
Very truly yours,
/s/ CARMEN F. DEYESU
February 24, 1995
T. Rowe Price Science & Technology, Inc.
100 East Pratt Street
Baltimore, Maryland 21202
Dear Sirs:
T. Rowe Price Science & Technology Fund, Inc., a Maryland
corporation (the "Corporation"), is filing with the Securities and Exchange
Commission a Rule 24f-2 Notice containing the information specified in
paragraph (b)(1) of Rule 24f-2 under the Investment Company Act of 1940 (the
"Rule"). The effect of the Rule 24f-2 Notice, when accompanied by this
Opinion and by the filing fee, if any, payable as prescribed by paragraph (c)
of the Rule will be to make definite in number the number of shares sold by
the Corporation during the fiscal year ended December 31, 1994 in reliance
upon the Rule (the "Rule 24f-2 Shares").
We have, as counsel, participated in various corporate and other
proceedings relating to the Corporation and to the Rule 24f-2 Shares. We have
examined copies, either certified or otherwise proven to our satisfaction to
be genuine, of its Charter and By-Laws, as currently in effect, and a
certificate dated February 16, 1995 issued by the Department of Assessments
and Taxation of the State of Maryland, certifying the existence and good
standing of the Corporation. We have also reviewed the Registration Statement
on Form N-1A and the form of the Rule 24f-2 Notice being filed by the
Corporation. We are generally familiar with the corporate affairs of the
Corporation.
The Corporation has advised us that the Rule 24f-2 Shares were
sold in the manner contemplated by the prospectus of the Corporation that was
current and effective under the Securities Act of 1933 at the time of sale,
and that the Rule 24f-2 Shares were sold in numbers within the limits
prescribed by the Charter of the Corporation for a consideration not less than
the par value thereof as required by the laws of Maryland and not less than
the net asset value thereof as required by the Investment Company Act of 1940.
Based upon the foregoing, it is our opinion that:
1. The Corporation has been duly organized and is legally
existing under the laws of the State of Maryland.
2. The Corporation is authorized to issue one billion
(1,000,000,000) shares of Common Stock, par value one cent ($0.01) per share.
Under Maryland law, (a) the number of authorized shares may be increased or
decreased by action of the Board of Directors and (b) shares which were issued
and which have subsequently been redeemed by the Corporation are, by virtue of
such redemption, restored to the status of authorized and unissued shares.
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3. The Rule 24f-2 Shares were legally issued and are fully paid
and non-assessable.
We hereby consent to the filing of this Opinion with the
Securities and Exchange Commission together with the Rule 24f-2 Notice of the
Corporation, and to the filing of this Opinion under the securities laws of
any state.
We are members of the Bar of the State of New York and do not hold
ourselves out as being conversant with the laws of any jurisdiction other than
those of the United States of America and the State of New York. We note that
we are not licensed to practice law in the State of Maryland, and to the
extent that any opinion herein involves the law of Maryland, such opinion
should be understood to be based solely upon our review of the documents
referred to above, the published statutes of the State of Maryland and, where
applicable, published cases, rules or regulations of regulatory bodies of that
State.
Very truly yours,
/s/ Shereff, Friedman, Hoffman & Goodman
