  COSY with a maximum beam momentum of ~3.65 GeV/c allows the production of
ground state (Lambda and Sigma) and excited hyperons (Lambda(1405), Sigma(1385)
and Lambda(1520)) in elementary NN interactions. The existing data base in this
field is rather poor. A systematic study of the hyperon production at COSY will
result in an improvement of our understanding concerning topics like
hyperon-nucleon interaction, kaon-nucleon interaction, nucleon resonances,
strangeness production mechanism and structure of the Lambda(1405). Precise
data on Lambda and Sigma production have been produced at the COSY-11 and TOF
installation. With the WASA detector at COSY these studies can be continued and
extended to channels including photons in the final state.
