Portico and Ithaka have released Digital Preservation of E-Journals in 2008: Urgent Action Revisited.
Here's an excerpt from the announcement:
In September 2005, library directors from 17 universities and colleges met to discuss the current state of electronic journal preservation and endorsed a statement calling for “Urgent Action” to preserve scholarly e-journals. Over two years later in January 2008, in the Portico and Ithaka invited 1,371 library directors of four-year colleges and universities in the United States to respond to a survey examining current perspectives on preservation of e-journals. A strong response has yielded interesting findings that we now share with the community in the hope they will spark useful discussion among library directors, funders, and administrators regarding strategic library priorities.
The survey finds that a large majority of library directors across the spectrum strongly agree or agree that the potential loss of e-journals is unacceptable, and a significant majority believe their own institution has a responsibility to take action to prevent an intolerable loss of the scholarly record. Most larger libraries responding now support one or more e-journal preservation initiatives; however, the majority of respondents from smaller libraries have yet to support any preservation effort and secure permanent access to e-journals for their institutions. The survey shows that this majority is significantly uncertain about their options for e-journal preservation and how urgent is the need to act.