The third course of the International School on Physics with Low Energy Antiprotons was held in Erice, Sicily at the Ettore Majorana Centre for Scientific Culture, from 10 to 18 June, 1988. The School is dedicated to physics accessible to experiments using low energy antiprotons, especially in view of operation of the LEAR facility at CERN with the upgraded antiproton source AAC (Antiproton Accumulator AA and Antiproton Collector ACOL). The first course in 1986 covered topics related to fundamental symmetries; the second course in 1987 focused on spectroscopy of light and heavy quarks. This book con- tains the Proceedings of the third course, devoted to the experimental and theoretical aspects of the interaction of antinucleons with nucleons and nuclei. The Proceedings contain both the tutorial lectures and contributions presented by participants during the School. The papers are organized in several sections. The first section deals with the theoretical aspects of NN scattering and annihilation, and the underlying QCD. The experimental techniques and results concerning NN scattering are contained in Section II. Section III contains theoretical reviews and contributions on anti- proton-nucleus scattering and bound states. Section IV is devoted to the experimental results on the antiproton- nucleus systems and their phenomenological analysis. Finally, some possible developments of the antiproton machines are presented.