Directed to the heads of executive departments and establishments, this circular establishes policy for the management of federal information resources. Procedural and analytic guidelines for implemented aspects of these policies are included as appendices. The policies apply to the information activities of all agencies of the executive branch of the Federal Government. Sections of the paper include: purpose; recissions; authorities; applicability and scope; background; definitions; basic considerations and assumptions; policies on information management, and information systems and technology management; assignments and responsibilities for all federal agencies, the Departments of State, Commerce, and Defense, the General Services Administration, the Office of Personnel Management, the National Archives and Records Administration, and the Office of Management and Budget; oversight provisions; effective date of policy; inquiries; and sunset review date. Four appendices are included: (1) Federal Agency Responsibilities for Maintaining Records about Individuals; (2) Cost Accounting, Cost Recovery, and Interagency Sharing of Information Technology Facilities; (3) Security of Federal Automated Information Systems; and (4) Analysis of Key Sections (of the circular). (THC)