T. Rowe Price Mid-Cap Growth Fund

The fund's primary objective is to achieve substantial long-term capital appreciation. It typically allocates a minimum of 80% of its net assets (which may include borrowed funds for investment) to a diverse collection of common stocks. The focus is on mid-sized companies that T. Rowe Price anticipates will demonstrate earnings growth rates superior to the average corporation. For the purpose of this fund, mid-cap companies are defined as those whose market capitalization falls within the ranges of either the S&P MidCap 400® Index or the Russell Midcap® Growth Index. While the majority of the portfolio will generally comprise U.S. common stocks, the fund retains the flexibility to invest in international equities when consistent with its investment aims.