  We present the results of a photometric survey for variable stars in the
nearby globular cluster M5. A 14.8x22.8 arcmin^2 field centered on the cluster
was monitored for a total of 37 hours with a CCD camera mounted on the 1.0-m
Swope telescope. Five new variables were identified: four blue stragglers which
are SX Phe pulsating variables, and an eclipsing binary with an orbital period
of 0.466 d. The eclipsing binary lies near the main-sequence turnoff on the
cluster color-magnitude diagram. We do not confirm the variability of any of
the 10 eclipsing binaries identified in the cluster field by Reid (1996) and
Yan & Reid (1996). The dwarf nova M5-V101 exhibited two outbursts with full
amplitudes of about 2.7 mag during our observations. A V/B-V color-magnitude
diagram of the surveyed field was obtained, and a possible extreme HB star
located 2 mag below cutoff of the blue HB was identified.
