The 'Lalith Athulathmudali Memorial Prize' is a prestigious prize and honour awarded to a student of Royal College Colombo[1], the oldest public school in Sri Lanka. Awarded annually to the Most Outstanding Royalist of the Year. (Most Outstanding Student of Royal College Colombo of the Year). First awarded in respect of the academic year 1993 and in memory of Lalith Athulathmudali, PC a distinguished Old Royalist and Statesman.
The award should not be confused with the Turnour Prize the oldest prize in the school which had been awarded since 1846 and the Dornhorst Memorial Prize awarded for General Merit.