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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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SIGNATURE HENRY HOPKINS
TITLE VICE PRESIDENT
[ARTICLE] 6
[CIK] 0000912028
[NAME] T ROWE PRICE SUMMIT FUNDS
[SERIES]
[NUMBER] 1
[NAME] T ROWE PRICE SUMMIT CASH RESERVES FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1994
[PERIOD-END] OCT-31-1994
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[ACCUM-APPREC-OR-DEPREC] (83)
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[NET-INVESTMENT-INCOME] 3647
[REALIZED-GAINS-CURRENT] 1
[APPREC-INCREASE-CURRENT] (83)
[NET-CHANGE-FROM-OPS] 3565
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (3647)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 340645
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[NET-CHANGE-IN-ASSETS] 186483
[ACCUMULATED-NII-PRIOR] 0
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</TABLE>
[ARTICLE] 6
[CIK] 0000912028
[NAME]
[SERIES]
[NUMBER] 3
[NAME] T ROWE PRICE SUMMIT LIMITED TERM BOND FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1994
[PERIOD-END] OCT-31-1994
[INVESTMENTS-AT-COST] 21638
[INVESTMENTS-AT-VALUE] 21333
[RECEIVABLES] 467
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[OVERDISTRIBUTION-GAINS] 1132
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[REALIZED-GAINS-CURRENT] (1132)
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[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (1056)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 6654
[NUMBER-OF-SHARES-REDEEMED] 2285
[SHARES-REINVESTED] 181
[NET-CHANGE-IN-ASSETS] 21086
[ACCUMULATED-NII-PRIOR] 0
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[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000912028
[NAME] T ROWE PRICE SUMMIT FUNDS
[SERIES]
[NUMBER] 2
[NAME] T ROWE PRICE SUMMIT GNMA
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1994
[PERIOD-END] OCT-31-1994
[INVESTMENTS-AT-COST] 19492
[INVESTMENTS-AT-VALUE] 18226
[RECEIVABLES] 308
[ASSETS-OTHER] 95
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 18629
[PAYABLE-FOR-SECURITIES] 1365
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[OVERDISTRIBUTION-GAINS] 110
[ACCUM-APPREC-OR-DEPREC] (1266)
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[APPREC-INCREASE-CURRENT] (1266)
[NET-CHANGE-FROM-OPS] (488)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1001
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2285
[NUMBER-OF-SHARES-REDEEMED] 491
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[NET-CHANGE-IN-ASSETS] 17154
[ACCUMULATED-NII-PRIOR] 0
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[PER-SHARE-NAV-BEGIN] 10.00
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[PER-SHARE-GAIN-APPREC] (.85)
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[PER-SHARE-NAV-END] 9.15
[EXPENSE-RATIO] .60
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[AVG-DEBT-PER-SHARE] 0
</TABLE>
