ABSTRACT. We introduce in this paper a class of Abelian groups which includes the torsion totally projective groups and those torsion-free groups which are direct sums of groups of rank one. Characterizations of the groups in this class are given, and a complete classification theorem, in terms of additive numerical invariants, is proved.By a height, we mean a formal product h = Tl p"^p\ where v(p) is either an ordinal or the symbol °°, and the product is taken over all primes p. If G is an Abelian group, we define hG = C\ pv(-p^G. A short exact sequence 0 -■*■ A -*■ B -> C -> 0 is balanced if for every height h, the sequence 0 -* hA -► hB -* hC -> 0 is exact. A group P is a balanced projective if it is projective with respect to all such sequences-i.e., for any such sequence, the induced map Hom(P, B) -► Hom(/>, C) is surjective. A torsion-free group is balanced projective if and and only if it is a direct sum of groups of rank one. A p-group is balanced projective if and only if it is the direct sum of a divisible group and a totally projective group (defined below or in [17], [23], [6]). We will prove a classification theorem for the balanced projectives which will include, as special cases, Baer's 1937 classification of the torsion-free balanced projectives [2], and Hill's classification of totally projective p-groups [7], [23]. We also prove that any balanced projective is a direct sum of groups of torsion-free rank at most one. (Most of these rank one groups are not direct sums of a torsion group and a torsion-free group, so the invariants we need cannot be obtained directly from Baer's invariants and the Ulm invariants.)An important tool in developing the theory is to work first in the local case-with modules over a discrete valuation ring. One then proves many of the results for an Abelian group M by referring to the localization M = M ® Zp