At one time it was possible to invite everyone interested in algebraic K-theory and its varied applications to one conference. However, that is no longer the case due to the enormous growth of the field. For that reason the algebraic K-theory conference held June of 1980 at the Forschungsinstitut Oberwolfach was to be primarily concerned with lower algebraic K-theory and some limited aspects of higher K-theory. As can be seen from the List of Talks and the Table of Contents, this restriction was not strictly followed, it did contribute to the success of the conference by serving a focal point. The papers appearing in these Proceedings are not limited in scope and reflect the broad interests of the participants. contents of the two volumes are roughly divided along the following lines: the first volume consists of papers which are either algebraic K-theory proper or are very closely connected with it (in the view of the editor) while the second volume contains those papers which are either applications of algebraic K-theory to other fields or those whose connections with K-theory are less direct.