Terry Ehling, Director of Electronic Publishing at Cornell University presented the Cornell University Library's approach to Scholarly Publishing on the Web. Using the example of the the Library's innovative publishing software, DPubS (Digital Publishing System), which was developed to deliver Project Euclid (a Mellon Foundation-supported scholarly communications initiative), she showed how Project Euclid provides cost efficient distribution of serial literature in mathematics and statistics, and now DPubS will be enhanced and released as a general-purpose publishing platform for scholarly literature in diverse fields, supporting peer review, extensive administrative functionality, and interoperability with open source repository systems such as Fedora and DSpace. This flexible online publishing tool will aid institutions of higher education and research in managing and distributing the intellectual efforts of scholars and researchers. DPubS v.2 will significantly expand opportunities for affordable and creative scholarly communication.