Epoxy-imide resins obtained through the reaction of epoxy resins such as Araldite 1 GY 250=Araldite 1 EPN 1138 with N-(4-and 3-carboxyphenyl)trimellitimides (IDA-I and IDA-II, respectively) have been modified with 10 wt% of epoxidized hydroxyl-terminated polybutadiene (EHTPB), 10 phr of carboxyl-terminated butadiene-acrylonitrile liquid copolymer (CTBN-L), and 10 phr of carboxyl-terminated butadiene-acrylonitrile solid copolymer (CTBN-S) without sacrificing much of their performance at elevated temperatures. Adhesive lap shear strength on stainless steel substrate at room temperature and at 100, 125, and 150 C has been evaluated for the modified and unmodified systems. CTBN-S offers a remarkable increase of 13 MPa and 8 MPa in the room temperature adhesive strength of GY 250-based system and EPN 1138-based system, respectively. EHTPB gives only a marginal improvement and CTBN-L offers an improvement by 4 MPa for GY 250-based system whereas CTBN-L reduces the adhesive strength of EPN 1138-based system. SEM studies suggest that in general, the modification with EHTPB and CTBN-L results only in improving the ductility of epoxy-imide systems, whereas the modification with CTBN-S results in phase separation of rubber particles in the epoxy-imide matrix.