The mathematical sciences in U.S. colleges and universities must respond to dramatic changes in the nature of mathematics in the past 15 years and prepare for the rapidly changing and complex national needs of the future. The project MS2000 will produce a comprehensive assessment of college and university mathematical sciences and an agenda for reinvigoration immediately and for renewal by the year 2000. The present undertaking involves planning, initial staffing, the preparation of a review paper on the supply and utilization of mathematical talent, and the formation and one meeting of an oversight committee.