Research in photo-nuclear and in fundamental particle physics will be carried out at the Bates and Saskatchewan cw electron facilities, at the CERN low energy anti-proton accumulator ring, and at the BNL AGS facility. Photonuclear reactions will concentrate on the role of the nucleon delta resonance in intermediate energy reactions. The particle physics experiments will focus on two areas: (1) sub-ppm measurement of the muon anomalous magnetic moment at the AGS as a test of the renormalizability of electro-weak theory, with interest in the effects of virtual production of very high mass scale particles including the W and Z bosons; and (2), measurement of CP violating decay modes of kaons produced at CERN in proton-antiproton annihilations, with interest in, among other phenomena, observation of direct CP violating amplitudes in two-pion decay of the neutral kaon, and measurement of, or limits on, CP violation in the three-pion decay channel.