T. Rowe Price Associates, one the country's leading no-load mutual fund companies, has named James A.C. Kennedy, John H. Laporte, and William T. Reynolds to its board of directors.

The appointments coincide with the retirement of board members Carter O. Hoffman and Thomas H. Broadus Jr. Mr. Hoffman will leave the company this month, but Mr. Broadus plans to stay on as a managing director, a spokesman for the Baltimore-based fund company said.

Mr. Hoffman joined T. Rowe Price in 1961 and has served as a director since 1973. Mr. Broadus joined the fund company in 1966 and has been on the board since 1979.

T. Rowe Price and its affiliates manage more than $80 billion of mutual fund assets in 4 million individual and institutional investment accounts.

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