In this paper, the synthesis and characterization of a new family of aliphatic/aromatic copolyester resins is described. This new resin is derived from a two component oligomeric system consisting of a mixture of Novolac acetates and several specially designed oligomers with carboxylic acid end groups. In this new material, aliphatic units have been incorporated into the oligomers in order to reduce the processing temperature. When used as an adhesive, the new resin offers good lap shear strength of about 14 MPa (2000 psi) at room temperature and retains useful properties to 80 degrees C-100 degrees C. This new system provides good thermal stability, environmental resistance and char yield of 25-40%.