Interpenetrating polymer networks (IPN) of Novolac/poly(ethyl acrylate) have been prepared via in situ sequential technique of IPN formation. Both full and semi IPNs were characterized with respect to their mechanical properties that is, ultimate tensile strength (UTS), percentage elongation at break, modulus, and toughness. Physical properties of these were evaluated in terms of hardness, specific gravity, and crosslink density. Thermal behavior was studied by differential scanning calorimetry (DSC) and thermogravimetric analysis (TGA). The morphological features were observed by an optical microscope. There was a gradual decrease in modulus and UTS, with consequent increases in elongation at break and toughness for both types of IPNs with increasing proportions of PEA. An inward shift and lowering (with respect to pure phenolic resin) of the glass transition temperatures of the IPNs with increasing proportions of PEA were observed, thus, indicating a plasticizing influence of PEA on the rigid, brittle, and hard matrix of crosslinked phenolic resin. The TGA thermograms exhibit two-step degradation patterns. An apparent increase in thermal stability at the initial stages, particularly, at lower temperature regions, was followed by a substantial decrease in thermal stability at the higher temperature region under study. As expected, a gradual decrease in specific gravity and hardness values was observed with increase in PEA incorporation in the IPNs. A steady decrease in crosslink densities with increase in PEA incorporation was quite evident. The surface morphology as revealed by optical microscope clearly indicates two-phase structures in all the full and semi IPNs, irrespective of acrylic content. (c) 2005 Wiley Periodicals, Inc.