The fields of extragalactic research and cosmology have continued to progress rapidly over the past three years, as detailed in the reports of the Commission Presidents, and we are pleased to acknowledge the award of the 2011 Nobel Prize in Physics to Saul Perlmutter, Brian P. Schmidt and Adam G. Riess for “the discovery of the accelerating expansion of the Universe through observations of distant supernovae”. The Gruber Cosmology Prize was awarded in 2009 to Wendy L. Freedman, Robert C. Kennicutt and Jeremy Mould for their leadership of the Hubble Space Telescope Key Project on the Extragalactic Distance Scale, in 2010 to Charles Steidel for the identification and study of galaxies in the very distant universe, and in 2011 to Marc Davis, George Efstathiou, Carlos Frenk and Simon D.M. White for pioneering the use of numerical simulations as a tool to model and interpret the large-scale distribution of galaxies and dark matter.