This report emphasizes the plan of the new President of the Council on Library Resources (CLR) plan to concentrate on the development of leadership in libraries to better manage technologically advanced services, the transition to the electronic library, and the economics of information and information technology. The Council engaged in a project to foster development of leadership within the library and information science community, and has undertaken a study of the costs of interlibrary lending and borrowing. The "Program Review" section highlights activities in human resources, economics, infrastructure, access and processing, and CLR committees; contains a bibliography of 36 publications and reports resulting from CLR programs in 1994/95; and describes program guidelines and grant application procedures. The report concludes with financial statements of active projects. (DGM/BEW)