  We present a quantum-number projection technique which enables us to exactly
treat spin, momentum and other symmetries embedded in the Hubbard model. By
combining this projection technique, we extend the path-integral
renormalization group method to improve the efficiency of numerical
computations. By taking numerical calculations for the standard Hubbard model
and the Hubbard model with next nearest neighbor transfer, we show that the
present extended method can extremely enhance numerical accuracy and that it
can handle excited states, in addition to the ground state.
