ISTCS '92, the Israel Symposium on the Theory of Computing and Systems, cameabout spontaneously as a result of informal interaction between a group of people who viewed the conference as an appropriate expression of Israeli strength in theoretical aspects of computing and systems. The enthusiasm that the symposium created resulted in the submission of a large number of extremely high quality papers, which led in turn to strict acceptance criteria. This volume contains nineteen selected papers representing the cream of Israeli talent in the field, on a variety of active and interesting topics in the theory of computing and systems.