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									Stable Value Common Trust Fund-E                                                                                                  Quarterly Trust Update as of 9/30/2010

OBJECTIVE                                         INVESTMENT STRATEGY                              BENEFITS AND RISKS                            INVESTOR PROFILE
The Trust seeks to provide maximum current        l   The Trust will invest primarily in        l Offers potential stability of principal by     l   The Trust may be suitable for
income while maintaining stability of                 Guaranteed Investment Contracts             purchasing high-quality GICs, BICs, SICs,          retirement plan investors
principal.                                            (GICs), Bank Investment Contracts           and SACs, however, there is no assurance           seeking high credit quality and
                                                      (BICs), Synthetic Investment Contracts      that the credit quality of the issuers will        current income who can accept
                                                      (SICs), and Separate Account Contracts      remain the same over the life of the               some risk.
                                                      (SACs).                                     investment.                                    l   Investments in the Trust may
                                                  l   GICs, BICs, SICs, and SACs are types of   l Because such investments are not actively          not substantially outpace
                                                      investment contracts that are               traded in the open market and generally            inflation over time, so
 Not FDIC-insured. May lose value. No bank                                                        must be held until maturity, there is a risk
                                                      designed to provide principal stability                                                        participants who invest solely in
 guarantee.                                                                                       that, like any investment, one or more of
                                                      and a competitive yield.                                                                       this conservative Trust may not
                                                                                                  the Trust's holdings could fail to make            be able to save enough for their
                                                                                                  scheduled interest and principal payments          retirement years.
                                                                                                  prior to maturity, potentially reducing the
                                                                                                  Trust's income level and causing a loss of
                                                                                                l The Trust attempts to minimize such risks
                                                                                                  by diversifying its investments by issuer,
                                                                                                  quality, and duration.

TRUST MANAGEMENT                                      KEY TRUST DATA                                      RETURNS
Michael J. Wyatt - B.S., Pennsylvania State           Assets (millions):                 $10,364.6        Average Annual Returns
University; M.B.A., Pennsylvania State                                                                                        Stable Value Common        Hueler Pooled Fund
University                                            Inception Date:          September 12, 1988                                 Trust Fund-E               Universe
Edward A. Wiese - B.S., Yale University;                                                                  3 Months                     0.96%                     0.77%
                                                      Trustee Fee:1                          0.45%        Year-to-Date                 2.89                      2.32
M.S., Johns Hopkins University; M.B.A., Tuck                                                              1 Year                       3.95                      3.11
School of Business at Dartmouth                       Manager tenure:2                     11 years       3 Years                      4.11                      3.76
                                                                                                          5 Years                      4.16                      4.17
Brian J. Brennan - B.S., Trinity College; M.A.,                                                           10 Years                     4.45                      4.66
                                                      1 As of 9/30/2010.
Trinity College
                                                      2 Number of years managing the strategy.            The T. Rowe Price Stable Value Common Trust Fund (the "Trust") is
Jason T. Collins - B.S., Excelsior College;
                                                                                                          not a mutual fund. It is a common trust fund established by T.
M.B.A., University of Texas                                                                               Rowe Price Trust Company under Maryland banking law, and its
                                                                                                          units are exempt from registration under the Securities Act of 1933.
Virginia K. Kidd - B.A., SweetBriar College;
                                                                                                          Investments in the Trust are not deposits or obligations of, or
M.B.A., University of North Carolina                                                                      insured or guaranteed by, the U.S. government or its agencies or T.
                                                                                                          Rowe Price Trust Company. Although the Trust seeks to preserve
Antonio L. Luna - B.S., Towson University;
                                                                                                          the value of your investment at $1.00 per unit, it is possible to lose
M.S., Johns Hopkins University                                                                            money by investing in the Trust.
Robert A. Madore - B.A., University of                                                                    Performance figures are shown net of fees and include any
Connecticut                                                                                               changes in principal value and reinvested dividends. All returns are
                                                                                                          historical and do not represent future performance.
Cheryl A. Mickel - B.S., University of
Baltimore; M.B.A., Loyola University                                                                      Portfolio holdings are historical and subject to change. This
                                                                                                          material should not be deemed a recommendation to buy or sell
                                                                                                          any securities mentioned. When assessing performance, investors
                                                                                                          should consider both short-term and long-term returns.
                                                                                                          The Hueler Pooled Fund Universe ("Universe") is provided by
                                                                                                          Hueler Analytics, a Minnesota-based consulting firm, which has
                                                                                                          developed the Universe for use as a comparative database to
                                                                                                          evaluate collective trust funds and other pooled vehicles with
                                                                                                          investments in GICs and other stable value instruments. The
                                                                                                          Universe is comprised of pooled stable value funds with common
                                                                                                          investment objectives of stability of principal; the number of
                                                                                                          participating funds in the Universe may vary over the different
                                                                                                          historic periods. Total return performance is calculated by taking
                                                                                                          the straight average of the monthly returns of the funds
                                                  About T. Rowe Price Trust Company                       participating in the Universe during each month which are then
                                                  ·    Maryland-chartered, limited-purpose trust          linked to derive the index returns for all other time periods.
                                                       company established in 1983                        Universe rates of return are reported gross of management fees.
                                                                                                          All performance figures for periods over one year are annualized.
                                                  ·    Offers a variety of common trust funds (also
                                                       known as collective investment funds)
                                                       exclusively to retirement plans and their
                                                  ·    Part of the T. Rowe Price family of companies
                                                                                                                          Quarterly Trust Update as of 9/30/2010

    Stable Value Common Trust Fund-E
                                                                                                                               More Info about T. Rowe Price
    ASSET ALLOCATION                                               MATURITY ALLOCATION
                                                                                                                               · Founded in 1937
                                                                                                                               · Commitment to fundamental in-house
                                                                                                                                   research with 182 dedicated analysts
                                                                                                                               ·   Portfolio managers have an average tenure
                                                                                                                                   of 14 years with the company
                                                                                                                               ·   Strict adherence to investment style
                                                                                                                               ·   Solid performance with a risk-aware
                                                                                                                                   investment approach
                                                                                                                               ·   Experienced in international investing with
                                                                                                                                   offices in London, Hong Kong, Singapore,
    39.4 Corporate, Foreign, & Gov't Entities                                   12.3% 0 - 1 Years                                  Buenos Aires, and Baltimore

    20.9 Mortgage-Backed Securities                                             2.8% 1 - 2 Years
    15.8 U.S. Treasuries, Agencies, & Other                                     0.3% 2 - 3 Years
    8.7 Cash & Equivalents                                                      84.6% 3 - 4 Years
    7.2 Asset Backed Securities
    7.2 Guaranteed Investment Contracts (GICs)

    PORTFOLIO CHARACTERISTICS                                      TOP HOLDINGS


Weighted-Average Maturity           3.1 years                 Synthetic Investment Contracts (SICs)         74.1%
30-Day Effective Yield               3.87%                    Separate Account Contracts (SACs)             10.1
Number of Holdings                     43                     Cash                                            8.7
                                                              Guaranteed Investment Contracts (GICs)          7.2


                                                                                                                            Maturity — The period of time remaining until
                                                                                                                            the principal is repaid on securities held by the

                                                                                                                            Yield — The income per unit paid by the Trust to
                                                                                                                            its unit holder over a given period of time.

    Certain numbers in this report may not equal stated totals due to rounding.
    The Stable Value Fund (SVF) imposes a 90-day “equity wash” provision on exchanges to competing funds. The SVF is
    interest rate sensitive; therefore, direct exchanges from the SVF to money market funds and certain short-term bond
    funds are not permitted. “Permissible” or “eligible” investment options include most common stock funds and any
    fixed-income fund with a duration that is equal to or greater than three years. Exchanges from the SVF must remain
    invested in eligible investment options for at least 90 days before exchanging into a competing fund.

                                                                                                                                     SVF-E   E-068                  10/2010

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