A high strength adhesive having a good impact strength at low temperatures,
below 0.degree. C., and at temperatures of 90.degree. C. is provided. The
adhesive comprises a copolymer having at least one glass transition
temperature of -30.degree. C. or lower having epoxy reactive end groups or
a reaction product of the copolymer with a polyepoxide, a reaction product
of a polyurethane prepolymer and a polyphenol or polyaminophenol and at
least one epoxy resin.
