Research will continue on the structure and decay of the positron-electron bound state positronium (Ps), and the interactions of positrons with matter. Further tests will be made of quantum electrodynamics (QED) and the relativistic bound-state formalism by improving, by factors of 10 and 5, the recent precision measurements of the triplet and singlet Ps decay rates. Other recent measurements of the fine-structure transitions of the excited state of Ps will be improved by a factor of 30. These QED tests have wider implications, including impact upon quantum chromodynamics. Also, a search will be made for CP violation in the leptonic Ps system by means of a search for the 23S1 > 21P1 transition by new techniques. Studies of interactions of spin-polarized positrons with optically active molecules will be continued. Quantitative tests of an hypothesized casual connection between the dominance of L-amino acids and D-sugars in living organisms and parity violation in the weak interaction will then be possible. In a separate experiment positrons will be used to image materials. Continued development of intense, pulsed positron beams will be carried out. The aim will be to produce the first antimatter atom, antihydrogen. The positron beams developed will benefit all aspects of research on Ps and positron interactions with matter.