ARL is the bimonthly report on research library issues and actions from ARL (Association of Research Libraries), CNI (Coalition of Networked Information), and SPARC (Scholarly Publishing and Academic Resources Coalition). ARL reports on current issues of interest to academic and research library administrators, staff, and users; higher education administrators and faculty; information technologists and those who depend on networked information; as well as anyone concerned with the future of scholarly communication or information policy developments. Each issue explores a broad range of education topics of particular importance to research institutions and academic librarians. This June 2004 issue of ARL includes the following articles: (1) Libraries Dealing with the Future Now (Joseph M. Brewer, Sheril J. Hook, Janice Simmons-Welburn, and Karen Williams); (2) Libraries Investing in the Future First--Some Practical Suggestions (Margaret M. Landesman); and (3) Serials Trends Reflected in the ARL Statistics 2002-03 (Martha Kyrillidou). (Individual articles contain references.) [For ARL Number 233, see ED492528. For Number 235, see ED492531.]