Butadiene was polymerized with a catalyst system composed of NdCl3, tetrahydrofuran complex and AlEt(3). The cis-1,4-polymer produced was partially hydrogenated with Wilkinson's catalyst (RhCl(PPh(3)),(3)/PPh(3)). The hydrogenated polymers were then brought into contact with a large amount of ethylene in the presence of a WCl6-based metathesis catalyst to obtain alpha,omega-divinyl polyethylene-like oligomers. Both the hydrogenated polybutadiene and final oligomers were analyzed in some detail by H-1 NMR, C-13 NMR, DSC, and GPC. The mechanisms of partial hydrogenation and metathesis degradation were discussed on the basis of these analytical results.