The most recent developments in the field of time-resolved spectroscopy concerned with transient vibrational phenomena and their application to fundamental scientific and engineering studies are summarized in this proceedings volume. In more than 90 contributions from internationally well known research groups, this volume presents chapters on biological systems including protein dynamics, bacteriorhodopsin, and photosynthesis, metal complexes and organometallic systems, photochemical reactions, transient species, excited state and vibrational dynamics, dynamics in solids, aggregates, and liquid crystals. Further sections are devoted to theoretical aspects and innovative methods and techniques. The contributions to this volume clearly indicate that the field continues to expand into new areas of physics, chemistry, biology, and materials science.