A systematic study of the electronic structure and reactivity of a new class of molecular carbon clusters (fullerenes) is proposed. The program is aimed at the following issues: investigating the electronic energy level distributions for isolated and derivatized fullerene molecules, studying the changes in occupied and empty electronic states due to solid-state formation, with an emphasis on energy band formation, surface and interfacial studies of bond formation and stability of Fullerenes with metal and semiconductor adatoms and overlayers; catalysis, and photon- and electron- enhanced oxidation.