Let V be a simple vertex operator algebra satisfying the following conditions: (i) V (n) ؍ 0 for n < 0, V0 ؍ ,1ރ and the contragredient module V is isomorphic to V as a V-module; (ii) every -ގgradable weak V-module is completely reducible; (iii) V is C 2-cofinite. We announce a proof of the Verlinde conjecture for V, that is, of the statement that the matrices formed by the fusion rules among irreducible V-modules are diagonalized by the matrix given by the action of the modular transformation ۋ ؊1͞ on the space of characters of irreducible V-modules. We discuss some consequences of the Verlinde conjecture, including the Verlinde formula for the fusion rules, a formula for the matrix given by the action of ۋ ؊1͞ , and the symmetry of this matrix. We also announce a proof of the rigidity and nondegeneracy property of the braided tensor category structure on the category of V-modules when V satisfies in addition the condition that irreducible V-modules not equivalent to V have no nonzero elements of weight 0. In particular, the category of V-modules has a natural structure of modular tensor category. I n 1987, by comparing fusion algebras with certain algebras obtained in the study of conformal field theories on genus-one Riemann surfaces, Verlinde (1) conjectured that the matrices formed by the fusion rules are diagonalized by the matrix given by the action of the modular transformation ۋ Ϫ1͞ on the space of characters of a rational conformal field theory. From this conjecture, Verlinde obtained the famous Verlinde formulas for the fusion rules and, more generally, for the dimensions of the spaces of conformal blocks on Riemann surfaces of arbitrary genera. In the particular case of the conformal field theories associated to affine Lie algebras (the Wess-Zumino-NovikovWitten models), the Verlinde formulas give a surprising formula for the dimensions of the spaces of sections of the ''generalized theta divisors,'' which has given rise to a great deal of excitement and new mathematics. See the works by Tsuchiya et al. In 1988, Moore and Seiberg (6) showed on a physical level of rigor that the Verlinde conjecture is a consequence of the axioms for rational conformal field theories. This result of Moore and Seiberg is based on certain polynomial equations that they derived from the axioms for rational conformal field theories (6, 7). Moore and Seiberg further demonstrated that these polynomial equations are actually conformal-field-theoretic analogues of the tensor category theory for group representations. Their work greatly advanced our understanding of the structure of conformal field theories. In particular, the notion of modular tensor category was later introduced to summarize the properties of the Moore-Seiberg polynomial equations and has played a central role in the development of conformal field theories and 3D topological field theories. See, for example, refs. 8 and 9 for the theory of modular tensor categories, their applications, and references to many important works done by mathematician...