This report outlines the history of Project Information Exchange, describes the metropolitan Toronto continuing education directory and its dissemination, defines methodology used to obtain feedback on the value of the information exchange that occurred, analyzes responses by contributors to the directory and by a sample of users, and states implications of project findings. Project management and expenditures are summarized. The professional user study concentrates on information dissemination practices and on such factors as community and institutional characteristics, attitudes toward information tools, and information needs and resources. Individual users' experiences and resources in seeking courses are also considered, along with results of the testing of a user inquiry device. A sponsor inquiry analyzes uses of the directory by course administrators, changes desired in its content and organization, accuracy of the data, the stability of the information, and adult education practices affecting the above. Finally, the report stresses the complexity of values associated with the directory, suggests future directions, discusses the economic viability of adult education in greater Toronto, and proposes an information handling system. (author/ly)