The pathogenesis of acute myeloid leukemia is associated with the appearance of oncogenic fusion proteins generated as a consequence of speci®c chromosome translocations. Of the two components of each fusion protein, one is generally a transcription factor, whereas the other partner is more variable in function, but often involved in the control of cell survival and apoptosis. As a consequence, AML-associated fusion proteins function as aberrant transcriptional regulators that interfere with the process of myeloid di erentiation, determine a stagespeci®c arrest of maturation and enhance cell survival in a cell-type speci®c manner. The abnormal regulation of transcriptional networks occurs through common mechanisms that include recruitment of aberrant corepressor complexes, alterations in chromatin remodeling, and disruption of speci®c subnuclear compartments. The identi®cation and analysis of common and speci®c target genes regulated by AML fusion proteins will be of fundamental importance for the full understanding of acute myeloid leukemogenesis and for the implementation of disease-speci®c drug design. Oncogene (2001) 20, 5680 ± 5694.