This volume - part of a four-volume set - features a collection of papers in which scientists and engineers from around the world present the latest research results in extreme value analyses for floods and droughts. Two appoaches that are commonly employed in flood frequency analyses are the maximum annual flood and partial duration series or peak over threshold procedures. Recent theoretical advances, as well as illustrative applications, are described in detail for each of these approaches. Additionally, droughts and storms are systematically studied using appropriate probabilistic models. A major part of the volume is devoted to frequency analyses and fitting extreme value distributions to hydrological data. Other thought-provoking topics include regionalization techniques, distributed models, entropy and fractal analysis. This volume should be of interest to researchers, teachers, students and practitioners who wish to place themselves at the leading edge of flood frequency and drought analyses.