The final report on phase I (1988-1992 ) of RACE (Research and development in Advanced Communications technologies in Europe) has recently been published by the European Commission. This report summarizes and documents the results of the first phase. The context, organization and results of the programme are described and the organization and results of programme evaluations and audits are summarized. Links with other EC and European actions are discussed as is the exploitation of the results of Phase I along with the transition to phase II. Future requirements and options for work at European level are also included. Several annexes give detailed information on the achievements of the different projects and their contributions to standardization. Lists of all scientific and technical publications resulting from the work, including applications for registration of patents, are also provided. A list of all of the projects funded under Phase I of RACE is given, indicating the organizations involved. Financial and participation statistics are also provided.