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The Fifth ACM Conference on Electronic Commerce (EC'04) is taking place in New York City in May 2004, co-located with the 2004 World Wide Web conference (WWW'04). Now in its fifth iteration, the ACM EC conference has become one of the most interesting and diverse computer-science conferences on the scene, attracting submissions by leading researchers in Theory, Systems, Artificial Intelligence, Databases, Security, and many application areas, as well as Economics, Law, and other relevant disciplines. We received 146 submissions, of which 24 were accepted as full length papers and 21 as brief announcements.The best student-paper award has been given to Ryan Porter of Stanford University for his paper entitled "Mechanism Design for Online Real-Time Scheduling." Udi Manber, CEO of A9.com, is giving an invited talk entitled "Customer-centric Innovations for Search and E-Commerce" jointly to EC'04 and WWW'04.We would like to take this opportunity to congratulate Ryan and to thank Udi, the General Chair Jack Breese, the Tutorial Chair David Parkes, the Program-Committee members, and the external reviewers for all of their hard work on what promises to be a fascinating conference.