The *Illinois Journal of Mathematics* has undergone a major overhaul of its operation during the past several years, aimed at saving costs by streamlining the production and distribution process, while at the same time raising the technical and scientific quality of the journal.

These changes have led to drastically reduced production costs, a saving that has been passed on to subscribers. As a result, *IJM* has become the low-cost leader among mainstream math journals, as shown by the most recent AMS Journal Price survey.

Among all 263 print journals included in the survey, *IJM* was ranked 5th lowest in terms of price per page, and lowest among “mainstream” mathematical journals (the only journals with a lower cost per page figure are two publications by the Institute of Mathematical Statistics, the *Notre Dame Journal of Formal Logic*, and *Demonstratio Mathematica*, a journal published by Warsaw University).

The price per page for *IJM* is half that of the *Transactions of the American Mathematical Society*, one fourth that of the *Journal of the London Mathematical Society*, and one tenth that of some well-known commercial journals, such as *Inventiones Mathematicae*.

Other measures also put *IJM* at or near the bottom of the price/value range. For instance, the annual subscription price for *IJM* is second lowest among all print journals publishing more than 1000 pages per year (behind *Annals of Applied Probability*); and *IJM* is one of only 28 out of 263 print journals whose cost per page has decreased over the past 8 years, and it has one of the highest rates of decrease among those journals.

Although operating under the auspices of the University of Illinois, *IJM* is supported entirely through subscription costs and receives no subsidies from the University or the Mathematics Department. In fact, *IJM* provides a significant benefit to the University in the form of exchange subscriptions to several hundred journals which the Mathematics Library receives at no cost.

By keeping its subscription costs low, *IJM* has been able to avoid erosions in subscriptions that many higher priced publishers have experienced in recent years. As a result, *IJM* is in excellent financial shape and one of the few units within the University of Illinois that are not suffering from the current economic downturn.