The Institute for Prospective Technological Studies (IPTS) is an integral part of the Joint Research Centre (JRC). Its main tasks are: - Monitoring new developments in science and technology using, principally, its European Science and Technology Observatory (ESTO); - Strategic analyses of new areas of science and technology, accomplished for a range of clients and not exclusively the European Commission. Training of young scientists in techniques of prospective analysis is an important subsidiary task which is carried out through the award of fellowships enabling young European scientists to spend one or more years studying within the Institute. 1992 was a year of consolidation rather than rapid development, with the number of both permanent staff and research fellows remaining constant. Major expansion awaits approval of dedicated research funding. ESTO for example has, at present, only one operational module. Studies undertaken during 1992, include: - Energy (systems and technologies for the long-term future); - Environment (industrial opportunities and constraints); - Transport (space markets, high-speed trains); - Industrial competitivity (evaluation of EC strategies).