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Purpose - The purpose of this paper is to show how Olin Library has maintained exceptional service to its users before, during and after a periodicals review resulting in deep subscription cuts. Design/methodology/approach - The paper takes the form of a review of activities at the Library during a time of financial restraints. Findings - Although Olin's cancellation project is not entirely completed, there is sufficient anecdotal evidence that the exceptional service has not deteriorated. At some point, soon after the cancellations are in place, a survey should be initiated to confirm this assumption about exceptional service. Practical implications - Several guidelines are presented and discussed that may be useful for other libraries faced with having to make tough periodicals decisions after being directed to cut budgets by their administrations. Originality/value - The paper provides guidelines that should greatly benefit librarians in facilitating a periodicals review and the resulting cuts during difficult economic times while still providing the service to which users are accustomed. [ABSTRACT FROM AUTHOR]