Highlighted in this newsletter are the following points, made through charts, tables, and diagrams: (1) Federal obligations to institutions of higher education for all purposes climbed by $643 million, or 18% in fiscal year 1972. (2) Federal academic science funding, that includes all funding categories except the nonscience area, increased by $256 million, or 11%, to a level of $2,599 million. (3) Federal support of academic R&D activities rose by $302 million, or 19%, to $1,853 million. (4) The life sciences received $896 million in Federal academic R&D obligations in 1972--$154 million, or 21% more than in 1971. Other significant R&D increases occured in the environmental sciences--up $51 million to $187 million (38%), and in engineering--up $35 million to $193 million (22%). (5) In 1972 the first 100 universities and colleges in total Federal support received $2,670 million--some $257 million more than in 1971. Their share of total funds to all institutions, however, declined from 69% in 1971 to 65% in 1972. (Author/PG)