Hi all Thanks for all your answers ! Before overhauling the trans. i'll try to answer to some of your assertions: - You're right in assuming the clutches are the problem;they are seized together hence the drive in Neutral - One of the clutch packs does not release a) water has valve body stuck b) water has swelled frictions or rusted steels locking clutch I think it's the answer of the problem, according to the FSM trans. chart (about clutches pack: front clutches applied in all fwd range / rear clutches applied in R and D / No clutches in N). When the trans. is in N, D, 1 or 2, the car goes forward but ther's no upshift. Whichever the selected gear, the car runs at the same speed (and engine rev. at same rpm). I don't know if it's the 1st, 2 nd or direct drive. I haven't droven the car very far (no R ..). - If the car Locks up when put in reverse that means a clutch is not disengaging. Does it feel and sound like it goes into gear? yes, the car is locked when the trans. is in R. Seems logical if front clutches remains apllied. We can't push or pull the car with engine running . To push rearward the car we must stop the engine .. In R , engine revs free but trans. is locked ! - If you have water in the transmission oil it will turn into a pink milkshake. That is to say it looks white and cannot see through it Difficult to describe the color of the fluid ! Itsn't pink, it is completly unclear with a color between "rust" and "light chocolate". 2 or 3 persons who were in the shop agree that there is water in the fluid. We find some "cream" muds on valve body, cable housing etc.. - My guess would be the problem is a leak in the heat exchanger in the bottom of the radiator. When warmed up, there is greater pressure in the radiator than there is in the coolant lines and exchanger so the radiator solution enters the exchanger but trans fluid does not enter the radiator. i'll take the radiator to a radiator shop to check it. The theory sounds good but when the engine is stop, does the trans.fluid couldn't contaminate the coolant ? And if ther's a leak in the exchanger, the trans. fluid would be higher than normal. On the car the trans. fluid is a the correct mark. - A word of advice, if you don't have all the special tools necessary to do the job properly yourself,save yourself the heartache of pulling it out again later by having it done by a professional now and getting a warranty/guarantee with the job! I have rebuilt 10 Torqueflite (this was the # 2) with no problems (i have made the special tool for the overunning clutch) except bad stuff (clutches) from K....R ! In France ther's at last 2 or 3 trans. shops: very expensive (from 1000 to 3000 $ ..) And thanks to all who say Good Luck !! -- Philippe COURANT (Pau, France) Imperial 57 Crown convertible Buick 58 Roadmaster sedan - American Car Club de France (ACCF) : http://www.accf.com - Chrysler Imperial France : http://www.ifrance.com/c-i-f - Cadillac " Standard of Excellence " : http://www.ifrance.com/accf-cad - SportsCars : http://www.ifrance.com/accf-sprtcar [Non-text portions of this message have been removed]