James Riepe, vice chairman of T. Rowe Price and a 24-year veteran of the firm, plans to retire at the end of 2005.

Riepe will be succeeded by Edward C. Bernard, 49. Bernard currently has responsibility for T. Rowe Price's distribution for retail and intermediaries, corporate marketing and all communications. According to a T. Rowe Price release, Bernard has worked directly with Riepe since 1988.

Bernard has also been a director since 1999 and a member of the management committee since 2000.

Bernard will also stand in Riepe's place as a fund board director, when Riepe's term expires in April.  

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