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T. Rowe Price Follow-up Survey Shows Mutual Fund Investors Less Concerned About Y2K
BALTIMORE, Dec. 17 /PRNewswire/ -- A new survey of T. Rowe Price
(Nasdaq: TROW) mutual fund shareholders indicates that investors are even less
concerned about potential Y2K computer problems than earlier in the year.
When investors were asked if they thought that the Y2K computer issue will
cause problems for them personally, on a scale of 1 (not concerned at all) to
5 (highly concerned), the mean score was 1.4. The same question asked earlier
this summer showed a mean score of 2.1. The December survey reported that
92% rated their concern below average versus 70% in the earlier survey. In
the most recent survey, only 7% expressed an average degree of concern and
just 1% expressed an above average degree of concern. No one indicated that
they were highly concerned.
While the results of the survey show that a large majority of shareholders
are relatively unconcerned about Y2K, the firm is taking additional steps to
meet any investor concern during the Y2K transition.
-- Call Center Open New Year's Holiday Weekend - T. Rowe Price will
operate under regular business hours during the New Year holiday
weekend. Call Centers will be open Friday, December 31, 1999 from
8:00 a.m. to 10:00 p.m. eastern time, and Saturday, January 1, 2000,
and Sunday, January 2, 2000, from 8:30 am to 5:00 pm eastern time.
-- Vacations have been suspended from December 15, 1999 to January 14,
2000.
-- Increased Call Center Staff - T. Rowe Price will be operating a full
call center staff with the ability to increase staff by 50% depending
on call volumes.
-- The firm has increased channel capacity for automated telephone and
Internet account access systems.
-- T. Rowe Price has encouraged shareholders in recent months to use
Tele*Access the automated telephone system (1-800-638-2587) or
activate their accounts online (http://www.troweprice.com/access).
-- Internet Updates - The firm will post periodic Y2K status reports on
its Web site home page at troweprice.com.
T. Rowe Price and its affiliates managed approximately $157.4 billion as
of September 30, 1999 for more than eight million individual and institutional
accounts and serve as investment advisers to the T. Rowe Price family of
no-load mutual funds.
For more complete information, including fees and expenses, on any T. Rowe
Price fund, request a prospectus by calling 1-800-638-5660. Please read it
carefully before investing.
T. Rowe Price Investment Services, Inc.
SOURCE T. Rowe Price Associates, Inc.
Web Site: troweprice.com |
