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The 4th and 5th Newsletters for the SPECTRUM project (Study of Policies regarding Economic instruments Complementing Transport Regulation and the Undertaking of physical Measures) are now available from the SPECTRUM web-site (see below). Newsletter No. 4 contains a summary of the Interurban research, while Newsletter No. 5 includes an overview of the Urban research. The main text of the 5th newsletter has been written by Dr Farideh Ramjerdi (TOI, Oslo) and Dr Paul Timms (ITS, Leeds) on behalf of the SPECTRUM partners involved in the urban research. The Newsletters can be downloaded from: http://www.its.leeds.ac.uk/projects/spectrum/ Yours sincerely Dr. Torben Holvad Transport Studies Unit University of Oxford