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As requested by the National Science Foundation (NSF) and the Interagency Committee for Extramural Mathematics Programs (ICEMAP), this report updates the 1984 Report known as the "David Report." Specifically, the charge directed the committee to (1) update that report, describing the infrastructure and support for U.S. mathematical sciences research; (2) assess trends and progress over the intervening five years against the recommendations of the 1984 Report; (3) briefly assess the field scientifically and identify significant opportunities for research, including cross-disciplinary collaboration; and (4) make appropriate recommendations designed to ensure that U.S. mathematical sciences research will meet national needs in coming years. Of the several components of the mathematical sciences community requiring action, its wellspring--university research departments--is the primary focus of this report. The progress and promise of research--described in the 1984 Report relative to theoretical development, new applications, and the refining and deepening of old applications--have if anything increased since 1984, making mathematics research ever more valuable to other sciences and technology. Although some progress has been made since 1984 in the support for mathematical sciences research, the goals set in the 1984 Report have not been achieved. Practically all of the increase in funding has gone into building the infractructure, which had deteriorated badly by 1984. While graduate and postdoctoral research, computer facilities, and new institutes have benefited from increased resources, some of these areas are still undersupported by the standards of other sciences. And in the area of research support for individual investigators, almost no progress has been made. A critical storage of qualified mathematical sciences researchers still looms, held at bay for the moment by a large influx of foreign researchers, an uncertain solution in the longer term. While government has responded substantially to the 1984 Report's recommendations, particularly in the support of infrastructure, the universities generally have not, so that the academic foundations of the mathematical sciences research enterprise are as shaky now as in 1984. The greatet progress has been made in the mathematics sciences community, whose members have shown a growing awareness of the problems confronting their discipline and increased interest in dealing with the problems, particularly in regard to communication with the public and government agencies and involvement in education. (AA)