[en] The Paul Scherrer Institute is a centre for multidisciplinary research in the natural and engineering sciences. It collaborates closely with universities, other research institutions, technical colleges, and industry, both in Switzerland and abroad. It is the largest research institute in Switzerland, with about 1'200 members of staff. Its particular areas of specialisation are solid-state research and material sciences, elementary particle physics and astrophysics, biology and medicine, and energy and environmental research. This annual report presents an overview of the work performed by the PSI research departments including information on new developments connected with the various accelerators and on the status of the Swiss Light Source project (SLS). Details on the organizational and financial structure of the Institute are also provided