STATEMENT OF THE EDITORS OF THE "JOURNAL OF K-THEORY" After several public statements and news articles regarding the Springer journal "K-Theory" (KT), and the new "Journal of K-Theory" (JKT) to be distributed by Cambridge University Press (CUP), the mathematical community has become aware of ongoing changes. On behalf of the entire Editorial Board of the new JKT, we want to give as precise a picture of the situation as we can at the moment, especially to the authors. It is very important to us that the authors should not suffer as a result of the transition. Those authors who submitted papers to KT before August 2007, regardless of whether the paper has already been accepted or is just awaiting review, have three choices: 1) Choose another journal. 2) Maintain submission with KT for final review if necessary and publication if accepted. 3) Transfer their article to the new JKT. All authors who have not yet done so should please notify Professor Bak on the one hand, Professors Lueck and Ranicki on the other hand, about their choice, as soon as possible. For those who opt for choice #2, Professors Lueck and Ranicki have promised to take over the remaining editorial duties. We can guarantee that the authors who choose option (3) will have a smooth transition, with their articles progressing as if there has been no change. We will also do everything we can to help those who choose options (1) and (2). In particular, if the authors instruct us, we will be happy to forward to the journals of their choice the full information regarding the status of their articles. In 2004, because of growing dissatisfaction with Springer, the editorial board of KT authorized Prof. Anthony Bak, the Editor in Chief, to begin negotiations with other publishers. The editorial board was unhappy with the poor quality of the work done by Springer, for example the huge number of misprints in the published version of the articles, the long delay in publication and the high prices Springer was charging. The negotiations came to a conclusion in 2007. A new journal, entitled "Journal of K-theory" (JKT) will commence publication in late 2007. It will be printed by Cambridge University Press. Papers will appear earlier online, as 'forthcoming articles'. The title of JKT is currently owned by a private company. This situation is only meant as a temporary solution to restart publication of K-theory articles as soon as possible. It is the Board's intention to create a non-profit academic foundation and to transfer ownership of JKT to this foundation, as soon as possible, but no later than by the end of 2009, a delay justified by many practical considerations. This shift towards more academic control of journals is not new. We follow here a path opened by Compositio Mathematica, Commentarii Mathematici Helvetici, and others (see for instance the interesting paper of Gerard van der Geer which appeared in the Notices of the AMS in May 2004). We believe that such changes can help keep prices low. We trust in Prof. Bak's leadership for the launching of JKT and forming, together with the editorial board, the foundation to house the Journal. The statutes of the foundation will provide democratic rules governing the future course and development of the journal, including the election of the managing team. We hope to have provided a fair picture of the current situation, and we plan to issue another public statement when new developments come up. In case of further questions, please contact any of the signatories. Let us conclude from a broader perspective: The editorial board is committed to secure the journal's quality and long-term sustainability. Signatures A. Bak P. Balmer S. Bloch G. Carlsson A. Connes E. Friedlander M. Hopkins B. Kahn M. Karoubi G. Kasparov A. Merkurjev A. Neeman T. Porter J. Rosenberg A. Suslin G. Tang B. Totaro V. Voevodsky C. Weibel Guoliang Yu