Modern methods of treating waterlogged wood are summarized, including freeze-drying, polymerization of monomers by gamma radiation, and the sucrose method. The PEG method used for preservation of the ship Wasa is detailed, with emphasis on the effects of temperature and concentration of PEG on preservation of oak and pine. Also discussed are shrinkage variations with different molecular weights of PEG. Preservation of loose finds with PEG 4000 and boric acid/borax added as a fungicide is described with details. Question period subjects included methods of taking core borings for test samples; variations in lignin content; and the stability of sucrose-preserved wood. See also <i>AATA 14-168. -- AATA