This volume constitutes the proceedings of the 2nd International Conference on TrustManagement,heldinOxford,UK,during29March-1April2004.Thec- ference followed a very successful 1st International Conference on Trust Ma- gement held in Crete in 2003. Both conferences were organized by iTrust, which is a working group funded as a thematic network by the Future and Emerging Technologies (FET) unit of the Information Society Technologies (IST) program of the European Union. The purpose of the iTrust working group is to provide a forum for cro- disciplinary investigation of the applications of trust as a means of increasing security, building con?dence and facilitating collaboration in dynamic open - stems. The notion of trust has been studied independently by di?erent academic disciplines, which has helped us to identify and understand di?erent aspects of trust. The aim of this conference was to provide a common forum, bringing together researchers from di?erent academic branches, such as the technolo- oriented disciplines, law, social sciences and philosophy, in order to develop a deeper and more fundamental understanding of the issues and challenges in the area of trust management in dynamic open systems. The response to this conference was excellent; from the 48 papers submitted to the conference, we selected 21 full papers and 6 short papers for presentation. Theprogramalsoincludedthreekeynoteaddresses,givenbyJe?Bradshawfrom theInstituteforHumanandMachineCognitionattheUniversityofWestFlorida (USA), Ian Walden who is Director of the Computer-Related Crime Research Centre at Queen Mary, University of London (UK), and Massimo Marchiori from the World Wide Web Consortium, as well as three panels and a full day of tutorials.