Time-frequency methods and phase space are well known to most physicists, engineers and mathematicians as is the traditional Fourier analysis. Recently the latter found for quite a few applications a competitor in the concept of wavelets. Crudely speaking a wavelet decomposition is an expansion of an arbitrary function into smooth localized contributions labeled by a scale and a position parameter. This meeting brought together people exploring and applying these concepts in an interdisciplinary framework. The topics discussed range from purely mathematical aspects over signal analysis, seismic and acoustic applications via animal sonar systems to wavelets in computer vision.