The University of Aarhus has more than 20,000 students, making it the second-largest university in Denmark. It is also the second-oldest university in the country, and is celebrating its 75th anniversary in 2003. Like the other Danish universities, the University of Aarhus is currently facing major challenges. Changes in the Danish University Act and a strong political wish for closer partnerships between the private business community, the public sector and the country's universities have gradually altered the role of the universities in Denmark today. This paper looks more closely at the history of the University of Aarhus, the importance of the University for the Aarhus region, and the opportunities and barriers facing an ?old? comprehensive University in its attempts to adapt to the new role of universities in the modern world.