ROUSE COMPANY
424B3, 1996-05-30
OPERATORS OF NONRESIDENTIAL BUILDINGS
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                                                   Rule 424(b)(3)
                                                File No. 33-57347

PRICING SUPPLEMENT NO. 19 DATED MAY 23, 1996
(To Prospectus Dated February 10, 1995 as Supplemented
February 24, 1995)

                       THE ROUSE COMPANY

                       Medium-Term Notes

          Due More Than Nine Months from Date of Issue

                        Fixed Rate Notes
               ---------------------------------

Principal Amount:            $10,000,000
Proceeds to Issuer:          $9,950,000
Trade Date:                  May 23, 1996
Original Issue Date:         May 28, 1996
Issue Price:                 100%
Total Amount of OID:         N/A
Initial Accrual Period OID:  N/A
Yield to Maturity:           N/A
Stated Maturity Date:        May 29, 2001
Interest Rate Per Annum:     7.46%
Interest Payment Dates:      Every May 29 and November 29 until
                             maturity

Book-Entry:    [X]
Certificated:  [ ]

Minimum Denomination:   $1,000.00
Specified Currency:     U.S. Dollars
Exchange Rate Agent:    N/A

Redemption:
     Check box opposite applicable paragraph.
     [X] The Notes cannot be redeemed prior to maturity.
     [ ] The Notes may be redeemed prior to maturity.
     Initial Redemption Date:                    N/A
     Initial Redemption Percentage:              N/A
     Annual Redemption Percentage Reduction:     N/A
     Special Redemption Provisions:              N/A

Additional Terms:       N/A

<PAGE>
                                                   Rule 424(b)(3)
                                                File No. 33-57347

PRICING SUPPLEMENT NO. 20 DATED MAY 23, 1996
(To Prospectus Dated February 10, 1995 as Supplemented
February 24, 1995)

                       THE ROUSE COMPANY

                       Medium-Term Notes

          Due More Than Nine Months from Date of Issue

                      Floating Rate Notes

             --------------------------------------

Principal Amount:              $10,000,000
Proceeds to Issuer:            $9,950,000
Trade Date:                    May 23, 1996
Issue Price:                   100%
Original Issue Date:           May 28, 1996
Total Amount of OID:           N/A
Initial Accrual Period OID:    N/A
Yield to Maturity:             N/A
Stated Maturity Date:          May 29, 2001
Book-Entry:    [X]
Certificated:  [ ]

Specified Currency:            U.S. Dollars

Base Rate:   [ ] Commercial Paper Rate   [X] LIBOR
                                         Telerate Page 3750

             [ ] Certificate of          [ ] Treasury Rate
                 Deposit Rate

             [ ] Federal Funds Rate      [ ] Prime Rate

                                         [ ] Other

Exchange Rate Agent:           N/A
Minimum Denomination:          $1,000.00
Initial Interest Rate:         6.33828%
Interest Determination Dates:  Two London Banking Days prior to
                               the Interest Reset Date
Interest Reset Dates:          Same as Interest Payment Dates
Interest Payment Dates:        Every August 29, November 29,
                               February 28 or 29 and May 29 (or,
                               in each case, the next Business
                               Day), beginning August 29, 1996,
                               until maturity
Index Maturity:                Three months
Maximum Interest Rate:         N/A
Minimum Interest Rate:         N/A
Spread (plus or minus):        Plus 85 bps (bps = basis points)
Spread Multiplier:             N/A
Calculation Agent:             The First National Bank of
                               Chicago
Calculation Date:              N/A

Redemption:
Check box opposite applicable paragraph.
     [X] The Notes cannot be redeemed prior to maturity.
     [ ] The Notes may be redeemed prior to maturity.
     Initial Redemption Date:        N/A
     Initial Redemption Percentage:  N/A
     Annual Redemption Percentage
       Reduction:                    N/A
     Special Redemption Provisions:  N/A

<PAGE>


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