Calling 2001 one of the most difficult years in its history, T. Rowe Price said today that its revenues declined 17% in the year to $1 billion compared to $1.2 billion in 2000.

The firm was hard-hit by a loss in assets under management, which slid 3.5% to $58.3 billion at the end of the year, a decline of about $2.2 billion from January of 2001. And revenues from investment advisory fees fell about 15%, from $916,358 in 2000 to just more than $775,000 last year.

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