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  • In most states, mutual fund dividends from interest on direct U.S. government securities are exempt from state and local taxes. To determine this amount for each of your funds, multiply the "% of dividends from U.S. government securities" (shown below in Column 1) by the amount for that fund in Box 1a of your Form 1099-DIV.

    Check the specific requirements for your state. For example, some states only allow exemptions on dividends for those funds holding a minimum percentage, usually 50%, of government securities at the end of each quarter. We indicate in Column 3, below, whether any of your investments meet this requirement.

    State Intangible Property Tax

    If you pay state intangible property tax on the value of your fund, you may be able to exclude a portion of such value attributable to the fund's investments in U.S. government securities. To determine this amount, multiply the "% of fund held in U.S. government securities on December 31, 2013" (shown below in Column 2) by the total value of your shares at year end. Consult your tax advisor or your state tax office for more information.

    Interest on Direct U.S. Government Securities Tables
    T. Rowe Price Domestic Stock Funds
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    Balanced 5% 9% No
    Blue Chip Growth N/A No
    Capital Appreciation 8% No
    Capital Opportunity No
    Diversified Mid-Cap Growth No
    Diversified Small-Cap Growth 1% No
    Dividend Growth 3% No
    Equity Income 4% No
    Equity Index 500 1% No
    Extended Equity Market Index 4% No
    Financial Services 3% No
    Growth & Income No
    Growth Stock 1% No
    Health Sciences 2% No
    Media & Telecommunications 1% No
    Mid-Cap Growth 3% No
    Mid-Cap Value 2% No
    New America Growth 1% No
    New Era No
    New Horizons 3% No
    Personal Strategy Balanced 2% 8% No
    Personal Strategy Growth 1% 5% No
    Personal Strategy Income 3% 15% No
    Real Assets 2% No
    Real Estate 4% No
    Science & Technology N/A 7% No
    Small-Cap Stock 5% No
    Small-Cap Value 5% No
    Tax-Efficient Equity No
    Total Equity Market Index 3% No
    U.S. Large-Cap Core 2% No
    Value No

    T. Rowe Price Taxable Bond Funds
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    Corporate Income 2% No
    Floating Rate 10% No
    GNMA 1% 2% No
    High Yield 1% No
    Inflation Protected Bond 98% 89% Yes
    New Income 7% 19% No
    Prime Reserve 12% 14% No
    Short-Term Bond 7% No
    Strategic Income 2% 3% No
    Summit Cash Reserves 12% 14% No
    Summit GNMA 1% 2% No
    Ultra Short-Term Bond 4% 10% No
    U.S. Bond Enhanced Index 14% 28% No
    U.S. Treasury Intermediate 87% 92% Yes
    U.S. Treasury Long-Term 92% 94% Yes
    U.S. Treasury Money 69% 73% No

    T. Rowe Price Tax-Free Bond Funds
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    California Tax-Free Bond N/A No
    California Tax-Free Money N/A No
    Georgia Tax-Free Bond N/A No
    Maryland Short-Term Tax-Free Bond N/A No
    Maryland Tax-Free Bond N/A No
    Maryland Tax-Free Money N/A No
    New Jersey Tax-Free Bond No
    New York Tax-Free Bond No
    New York Tax-Free Money N/A No
    Summit Municipal Income N/A No
    Summit Municipal Intermediate N/A No
    Summit Municipal Money Market N/A No
    Tax-Exempt Money N/A No
    Tax-Free High Yield No
    Tax-Free Income N/A No
    Tax-Free Short-Intermediate N/A No
    Virginia Tax-Free Bond N/A No

    T. Rowe Price International Stock and Bond Funds
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    International Stock Funds
    Africa & Middle East No
    Emerging Europe No
    Emerging Markets Stock 2% No
    European Stock 2% No
    Global Allocation 4% 12% No
    Global Growth Stock1 No
    Global Industrials N/A 5% No
    Global Infrastructure No
    Global Real Estate No
    Global Stock 3% No
    Global Technology 5% No
    International Discovery 4% No
    International Equity Index No
    International Growth & Income 2% No
    International Stock 2% No
    Japan 2% No
    Latin America No
    New Asia 2% No
    Overseas Stock 2% No
    International Bond Funds
    Emerging Markets Bond 3% No
    Emerging Markets Corporate Bond 4% No
    Emerging Markets Local Currency Bond 1% No
    International Bond N/A 2% No

    T. Rowe Price Retirement and Spectrum Funds
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    Retirement 2005 3% 18% No
    Retirement 2010 3% 15% No
    Retirement 2015 2% 11% No
    Retirement 2020 2% 8% No
    Retirement 2025 2% 6% No
    Retirement 2030 1% 4% No
    Retirement 2035 1% 3% No
    Retirement 2040 1% 3% No
    Retirement 2045 1% 3% No
    Retirement 2050 1% 3% No
    Retirement 2055 1% 3% No
    Retirement Income 3% 27% No
    Spectrum Growth 2% No
    Spectrum Income 3% 8% No
    Spectrum International 2% No
    Target Retirement 2005 3% 21% No
    Target Retirement 2010 3% 21% No
    Target Retirement 2015 3% 19% No
    Target Retirement 2020 2% 16% No
    Target Retirement 2025 1% 11% No
    Target Retirement 2030 1% 8% No
    Target Retirement 2035 1% 5% No
    Target Retirement 2040 1% 4% No
    Target Retirement 2045 3% No
    Target Retirement 2050 3% No
    Target Retirement 2055 3% No

    T. Rowe Price Variable Annuity Portfolios2
      Column 1
    % of Dividends
    from U.S.
    Government
    Securities
    Column 2
    % of Funds Held
    in U.S. Government
    Securities on
    December 31, 2013
    Column 3
    U.S. Government
    Securities are at
    Least 50% of Holdings
    at each Quarter End
    Blue Chip Growth Portfolio No
    Equity Income Portfolio 4% No
    Equity Index 500 Portfolio No
    Health Sciences Portfolio 2% No
    International Stock Portfolio 2% No
    Limited-Term Bond Portfolio 8% No
    Mid-Cap Growth Portfolio 3% No
    New America Growth Portfolio 2% No
    Personal Strategy Balanced Portfolio 2% 9% No
    Prime Reserve Portfolio 10% No

    Percentages are the same for all fund classes (Investor, Advisor, R, and II Class).

    N/A is indicated where a fund did not pay a dividend or short-term capital gain, or pass through a foreign tax expense in 2013.

    A dash indicates that the fund paid a dividend or short-term capital gain in 2013, but no income was from government securities.

    1Effective 11/1/13, the Global Large-Cap Stock Fund was renamed the Global Growth Stock Fund.

    2For existing clients who are considering an exchange or investment into a new portfolio and would like to request a prospectus, please call 1-800-469-6587. The prospectus includes investment objectives, risks, fees, expenses, and other information that should be read and considered carefully before investing.

    The T. Rowe Price No-Load Variable Annuity is issued by Security Benefit Life Insurance Company (Form V6021). In New York, it is issued by First Security Benefit Life Insurance and Annuity Company of New York, White Plains, New York (FSB201 - 11/96). Security Benefit Life is not licensed in New York and does not solicit business in New York. The Variable Annuity, which has been available since April 1995, and in New York since November 1995, has limitations; contact your representative. It was distributed previously by T. Rowe Price Investment Services, Inc., and T. Rowe Price Insurance Agency, Inc., and is no longer available to new contract holders. The underlying portfolios are managed by T. Rowe Price Associates, Inc. The Security Benefit Group of companies and the T. Rowe Price companies are not affiliated.

    Copyright 2014, T. Rowe Price Investment Services, Inc., Distributor. All rights reserved.