<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 0000918294
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 EQUITY SERIES, INC.
001 B000000 811-07143
001 C000000 4105472000
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 Y
007 B000000 3
007 C010100 1
007 C020100 T. ROWE PRICE EQUITY INCOME PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 T. ROWE PRICE NEW AMERICA GROWTH PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 T. ROWE PRICE PERSONAL STRATEGY BALANCED PORT
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 73
019 C00AA00 TROWEPRICE
020 A000001 INVESTMENT TECHNOLOGY
020 B000001 95-4339369
020 C000001 20
<PAGE> PAGE 2
020 A000002 INSTINET
020 B000002 13-3443395
020 C000002 5
020 A000003 CITATION GROUP
020 B000003 13-3144415
020 C000003 3
020 A000004 MORGAN STANLEY
020 B000004 13-2655998
020 C000004 2
020 A000005 ROBERT FLEMING
020 B000005 FOREIGN
020 C000005 2
020 A000006 PCS SECURITIES
020 B000006 26-0236746
020 C000006 2
020 A000007 FREIMARK BLAIR
020 B000007 13-3134466
020 C000007 2
020 A000008 BRIDGE TRADING
020 B000008 43-1450530
020 C000008 2
020 A000009 PAINE WEBBER
020 B000009 13-2638166
020 C000009 1
020 A000010 CITIBANK
020 B000010 13-5266470
020 C000010 1
021 000000 71
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 78028
022 D000001 2291
022 A000002 DEUTSCHE BANK
022 B000002 13-6124068
022 C000002 67096
022 D000002 0
022 A000003 GMAC
022 B000003 38-0572512
022 C000003 61878
022 D000003 0
022 A000004 J.P. MORGAN
022 B000004 13-3224016
022 C000004 41101
022 D000004 0
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005 24147
022 D000005 1833
022 A000006 BANKERS TRUST
022 B000006 13-4941247
022 C000006 14941
<PAGE> PAGE 3
022 D000006 0
022 A000007 FIRST BOSTON
022 B000007 13-5659485
022 C000007 14613
022 D000007 21
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008 13840
022 D000008 75
022 A000009 PRUDENTIAL SECURITIES
022 B000009 22-2347336
022 C000009 7098
022 D000009 0
022 A000010 CHEMICAL BANK
022 B000010 13-4995650
022 C000010 3163
022 D000010 0
023 C000000 341329
023 D000000 4935
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
<PAGE> PAGE 4
062 R00AA00 0.0
077 A000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 NONE
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 128
082 A00AA00 N
082 B00AA00 0
024 000100 Y
025 A000101 BANKERS TRUST
025 B000101 13-4941247
025 C000101 E
025 D000101 281
025 A000102 J.P. MORGAN
025 B000102 13-3224016
025 C000102 E
025 D000102 587
025 A000103 DEUTSCHE BANK
025 B000103 FOREIGN
025 C000103 E
025 D000103 14
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 5030
028 A020100 15
028 A030100 0
028 A040100 398
028 B010100 4727
028 B020100 0
028 B030100 0
028 B040100 382
028 C010100 6079
028 C020100 211
028 C030100 0
028 C040100 1904
028 D010100 8504
028 D020100 0
028 D030100 0
028 D040100 1738
028 E010100 9068
028 E020100 0
028 E030100 0
028 E040100 1027
028 F010100 6117
028 F020100 390
028 F030100 0
028 F040100 401
<PAGE> PAGE 5
028 G010100 39525
028 G020100 616
028 G030100 0
028 G040100 5850
028 H000100 0
058 A000100 Y
058 B000100 Y
058 C000100 N
058 D000100 N
058 E000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 10000
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
<PAGE> PAGE 6
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 33985
071 B000100 1985
071 C000100 27216
071 D000100 7
072 A000100 6
072 B000100 172
072 C000100 435
072 D000100 0
072 E000100 0
072 F000100 130
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 0
072 S000100 0
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 130
072 Y000100 0
072 Z000100 477
072AA000100 367
072BB000100 0
072CC010100 1197
072CC020100 0
072DD010100 602
072DD020100 0
072EE000100 14
073 A010100 0.2100
073 A020100 0.0000
073 B000100 0.0100
073 C000100 0.0000
<PAGE> PAGE 7
074 A000100 0
074 B000100 0
074 C000100 4990
074 D000100 2464
074 E000100 0
074 F000100 43233
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 482
074 M000100 266
074 N000100 51435
074 O000100 772
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 289
074 S000100 0
074 T000100 50374
074 U010100 3602
074 U020100 0
074 V010100 13.99
074 V020100 0.00
074 W000100 0.0000
074 X000100 13
074 Y000100 0
075 A000100 0
075 B000100 30825
076 000100 0.00
028 A010200 2954
028 A020200 382
028 A030200 0
028 A040200 160
028 B010200 3144
028 B020200 6
028 B030200 0
028 B040200 186
028 C010200 3901
028 C020200 0
028 C030200 0
028 C040200 942
028 D010200 5026
028 D020200 0
028 D030200 0
028 D040200 644
028 E010200 6194
028 E020200 0
<PAGE> PAGE 8
028 E030200 0
028 E040200 295
028 F010200 4799
028 F020200 0
028 F030200 0
028 F040200 713
028 G010200 26018
028 G020200 388
028 G030200 0
028 G040200 2940
028 H000200 0
058 A000200 Y
058 B000200 Y
058 C000200 N
058 D000200 N
058 E000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 10000
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
<PAGE> PAGE 9
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 23653
071 B000200 2764
071 C000200 21491
071 D000200 13
072 A000200 6
072 B000200 79
072 C000200 91
072 D000200 0
072 E000200 0
072 F000200 100
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 0
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 0
072 X000200 100
072 Y000200 0
072 Z000200 70
072AA000200 342
072BB000200 0
072CC010200 2326
072CC020200 0
072DD010200 25
072DD020200 0
072EE000200 363
073 A010200 0.0200
073 A020200 0.0000
073 B000200 0.3800
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 3543
074 D000200 0
074 E000200 0
<PAGE> PAGE 10
074 F000200 34743
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 251
074 M000200 8
074 N000200 38545
074 O000200 107
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 318
074 S000200 0
074 T000200 38120
074 U010200 2264
074 U020200 0
074 V010200 16.84
074 V020200 0.00
074 W000200 0.0000
074 X000200 9
074 Y000200 0
075 A000200 0
075 B000200 23805
076 000200 0.00
028 A010300 1501
028 A020300 44
028 A030300 0
028 A040300 111
028 B010300 1790
028 B020300 0
028 B030300 0
028 B040300 180
028 C010300 2246
028 C020300 64
028 C030300 0
028 C040300 820
028 D010300 2641
028 D020300 0
028 D030300 0
028 D040300 724
028 E010300 4500
028 E020300 0
028 E030300 0
028 E040300 1072
028 F010300 2398
028 F020300 152
028 F030300 0
<PAGE> PAGE 11
028 F040300 313
028 G010300 15076
028 G020300 260
028 G030300 0
028 G040300 3220
028 H000300 0
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 Y
058 B000300 Y
058 C000300 N
058 D000300 N
058 E000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 10000
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
<PAGE> PAGE 12
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 12562
071 B000300 1615
071 C000300 10243
071 D000300 16
072 A000300 6
072 B000300 169
072 C000300 71
072 D000300 0
072 E000300 0
072 F000300 49
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 49
072 Y000300 0
072 Z000300 191
072AA000300 126
072BB000300 0
072CC010300 98
072CC020300 0
072DD010300 217
072DD020300 0
072EE000300 43
073 A010300 0.1900
073 A020300 0.0000
073 B000300 0.0800
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 2077
074 D000300 5693
074 E000300 0
074 F000300 10434
<PAGE> PAGE 13
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 222
074 K000300 0
074 L000300 210
074 M000300 8
074 N000300 18644
074 O000300 489
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 259
074 S000300 0
074 T000300 17896
074 U010300 1412
074 U020300 0
074 V010300 12.67
074 V020300 0.00
074 W000300 0.0000
074 X000300 5
074 Y000300 0
075 A000300 0
075 B000300 10943
076 000300 0.00
SIGNATURE HENRY HOPKINS
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000918294
<NAME> T. ROWE PRICE EQUITY SERIES, INC.
<SERIES>
<NUMBER> 01
<NAME> T. ROWE PRICE EQUITY INCOME PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 48066
<INVESTMENTS-AT-VALUE> 50687
<RECEIVABLES> 482
<ASSETS-OTHER> 266
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51435
<PAYABLE-FOR-SECURITIES> 772
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 289
<TOTAL-LIABILITIES> 1061
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 47374
<SHARES-COMMON-STOCK> 3602
<SHARES-COMMON-PRIOR> 1110
<ACCUMULATED-NII-CURRENT> 12
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 367
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2621
<NET-ASSETS> 50374
<DIVIDEND-INCOME> 435
<INTEREST-INCOME> 172
<OTHER-INCOME> 0
<EXPENSES-NET> 130
<NET-INVESTMENT-INCOME> 477
<REALIZED-GAINS-CURRENT> 367
<APPREC-INCREASE-CURRENT> 1197
<NET-CHANGE-FROM-OPS> 2041
<EQUALIZATION> 137
<DISTRIBUTIONS-OF-INCOME> 602
<DISTRIBUTIONS-OF-GAINS> 14
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2873
<NUMBER-OF-SHARES-REDEEMED> 425
<SHARES-REINVESTED> 44
<NET-CHANGE-IN-ASSETS> 35716
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 13704
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 130
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 130
<AVERAGE-NET-ASSETS> 30825
<PER-SHARE-NAV-BEGIN> 13.21
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .79
<PER-SHARE-DIVIDEND> .21
<PER-SHARE-DISTRIBUTIONS> .01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.99
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000918294
<NAME> T. ROWE PRICE EQUITY SERIES, INC.
<SERIES>
<NUMBER> 02
<NAME> T. ROWE PRICE NEW AMERICA GROWTH PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 34453
<INVESTMENTS-AT-VALUE> 38286
<RECEIVABLES> 251
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38545
<PAYABLE-FOR-SECURITIES> 107
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 318
<TOTAL-LIABILITIES> 425
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33843
<SHARES-COMMON-STOCK> 2264
<SHARES-COMMON-PRIOR> 808
<ACCUMULATED-NII-CURRENT> 96
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 348
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3833
<NET-ASSETS> 38120
<DIVIDEND-INCOME> 91
<INTEREST-INCOME> 79
<OTHER-INCOME> 0
<EXPENSES-NET> 100
<NET-INVESTMENT-INCOME> 70
<REALIZED-GAINS-CURRENT> 342
<APPREC-INCREASE-CURRENT> 2326
<NET-CHANGE-FROM-OPS> 2738
<EQUALIZATION> 42
<DISTRIBUTIONS-OF-INCOME> 25
<DISTRIBUTIONS-OF-GAINS> 363
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1613
<NUMBER-OF-SHARES-REDEEMED> 183
<SHARES-REINVESTED> 26
<NET-CHANGE-IN-ASSETS> 25816
<ACCUMULATED-NII-PRIOR> 9547
<ACCUMULATED-GAINS-PRIOR> 368868
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 100
<AVERAGE-NET-ASSETS> 23805
<PER-SHARE-NAV-BEGIN> 15.23
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 1.96
<PER-SHARE-DIVIDEND> .38
<PER-SHARE-DISTRIBUTIONS> .02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.84
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000918294
<NAME> T. ROWE PRICE EQUITY SERIES, INC.
<SERIES>
<NUMBER> 03
<NAME> T. ROWE PRICE PERSONAL STRATEGY BALANCED PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 17594
<INVESTMENTS-AT-VALUE> 18204
<RECEIVABLES> 432
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 18644
<PAYABLE-FOR-SECURITIES> 489
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 259
<TOTAL-LIABILITIES> 748
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17115
<SHARES-COMMON-STOCK> 1412
<SHARES-COMMON-PRIOR> 452
<ACCUMULATED-NII-CURRENT> 23
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 610
<NET-ASSETS> 17896
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 169
<OTHER-INCOME> 0
<EXPENSES-NET> 49
<NET-INVESTMENT-INCOME> 191
<REALIZED-GAINS-CURRENT> 126
<APPREC-INCREASE-CURRENT> 98
<NET-CHANGE-FROM-OPS> 415
<EQUALIZATION> 49
<DISTRIBUTIONS-OF-INCOME> 217
<DISTRIBUTIONS-OF-GAINS> 43
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15012
<NUMBER-OF-SHARES-REDEEMED> 3205
<SHARES-REINVESTED> 260
<NET-CHANGE-IN-ASSETS> 12271
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 49
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49
<AVERAGE-NET-ASSETS> 10943
<PER-SHARE-NAV-BEGIN> 12.43
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .30
<PER-SHARE-DIVIDEND> .19
<PER-SHARE-DISTRIBUTIONS> .08
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.67
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>