  We discuss the consequences of including both electron-phonon and
electron-electron couplings in multi-band models, focusing on numerical studies
of a one-dimensional two-band model in the intermediate regime for both
coupling strengths. Spin-Peierls as well as long-period, frustrated ground
states are identified, reminisent of those found in antiferromagnetic
next-nearest neighbor (ANNNI) models. We speculate on experimentally observable
signatures of this rich phase diagram. 1992 PACS: 75.30.Fv, 71.45.Lr, 71.38+i,
64.70.Rh
