Results of two hydrographical surveys of the area southeast of Newfoundland, where the Gulf Stream branches in to the North Atlantic Current and the Azores Current, are presented. The surveys were carried out by the R/Vs Vityaz and Professor Shtokman in May--June, 1990, as a part of the Atlantex-90 experiment. The process of detachment of a cyclonic meander and the appearance of a new, extremely strong cyclonic ring are described. Thermohaline structure and local dynamics of the ring and the origin of its water mass are explored. Integral parameters describing the heat and salt content of the ring are defined, and fluxes of heat and salt transferred across the Subarctic Front by such rings are estimated. Volume transport variations of the Gulf Stream are coupled with the appearance of the ring. Structure and variability of individual jets of the Azores Current and the North Atlantic Current and their interaciton with the synoptic scale cyclones and anticyclones are described. From the analysis of the thermohaline structure and parameters of these eddies their orgin can be determined. The hydrological structure of the structure of the Subarctic. Labrador Current, and Azores Fronts is described. ¿ American Geophysical Union 1994