This document describes the standardization activities which were performed during the first year period of the joint project named ﲁ Standardization and Research Project on an ATM/B-ISDN Switching Fabric System that is being jointly performed by Protocol Engineering Center (PEC) of Electronics and Telecommunications Research Institute (ETRI), Institute for Systems Research (ISR) of the University of Maryland at College Park (UMCP) and Modacom Co., Ltd. These standardization activities are related to the IEEE Bus Architecture Standards Committee (BASC) meetings and ATM Forum Meetings. This document also provides the general information about the IEEE Standards meetings and ATM Forum Standards meetings.