The uncapped Rashford, 18, has burst onto the scene with United this season, scoring seven goals in 16 games, while Townsend, who made his last England appearance in October, has impressed since joining Newcastle from Tottenham Hotspur in January.
Arsenal’s Jack Wilshere and Liverpool’s Jordan Henderson were both included after recent spells on the sidelines, but there was no place for Wilshere’s club-mate Theo Walcott.
Manager Roy Hodgson must reduce his squad to 23 for the tournament in France, which sees England paired with Slovakia, Russia and neighbours Wales in Group B.
PROVISIONAL ENGLAND SQUAD
GOALKEEPERS: Fraser Forster (Southampton), Joe Hart (Manchester City), Tom Heaton (Burnley)
DEFENDERS: Ryan Bertrand (Southampton), Gary Cahill (Chelsea), Nathaniel Clyne (Liverpool), Danny Rose (Tottenham Hotspur), Chris Smalling (Manchester United), John Stones (Everton), Kyle Walker (Tottenham Hotspur)
MIDFIELDERS: Dele Alli (Tottenham Hotspur), Ross Barkley (Everton), Fabian Delph (Manchester City), Eric Dier (Tottenham Hotspur), Danny Drinkwater (Leicester City), Jordan Henderson (Liverpool), Adam Lallana (Liverpool), James Milner (Liverpool), Raheem Sterling (Manchester City), Andros Townsend (Newcastle United), Jack Wilshere (Arsenal)
FORWARDS: Harry Kane (Tottenham Hotspur), Marcus Rashford (Manchester United), Wayne Rooney (Manchester United, capt), Daniel Sturridge (Liverpool), Jamie Vardy (Leicester City)
