Two years have passed since the first issue of “Stochastics and Dynamics” appeared in March 2001. It was a good start for a new journal on a not so new subject in a new millenium. Due to personal reasons Ludwig Arnold (Bremen) has resigned from the Editorin-Chief position by the end of 2002, and Manfred Denker (Gottingen) took over in January 2003. This occasion is well suited to reflecting past and future of the journal, where we stand and in which direction we should move. There is no doubt that the combination of stochastics and dynamics is a field of research in its own right which has all the features such a field should have: its own examples and paradigms, its theorems, its specific methods and significant applications. It has developed into various branches, like SDE’s, stochasticity in dynamics, or random structures in dynamics, to name some. Other subjects with a natural intertwining of stochastics and dynamics are listed throughout the current classification scheme like, for example, in 28, 34, 35, 37, 47, 58, 60, 62, 70, 74, 76, 80. It is this description we will focus on in the future. An important aspect of the editorial work has been to include contributions to research in applied fields. We especially mention the September 2002 issue on stochastic climate models which grew out of Ludwig Arnold’s interest in the field and two conferences on the subject in Chorin (Germany). All this will be preserved. On the other hand, we believe it is necessary to broaden the scope of the journal to include more trend-setting articles and to incorporate the full spectrum of research as described above. Moreover, the journal should serve the needs of the community as a genuine board of information exchange in the area. In order to come closer to this goal, a new Advisory Board has been created to advise and inform the Editors about new trends and important directions in the field. Its three members will guarantee that the journal will be able to incorporate new scientific developments. The Editorial Board has been changed only slightly — which reflects the continuity of the editorial policy. Survey articles are important means for trend-setting and orientation. This needs to be done on an irregular basis. Also, the publication of important contributions to conferences which to a large part are devoted to stochastics and dynamics are very welcome.