Some people's idea of dark horses for the title, the Ospreys have a talented back-line and have signed some exciting prospects, headed by the young back rower Ryan Jones, as well as the Wellington Hurricanes' Super 12 scrumhalf Jason Spice.
However, they let James Storey go and, given Sonny Parker is injury prone, the Ospreys could be light of personnel in midfield.
Likewise outhalf, where Shaun Connor is injury prone and his understudy is the slight 19-year-old Matthew Jones, although they could reconvert Gavin Henson.
Sharing St Helen's and the Gnoll this season, they'll be moving to a state-of-the-art ground at Swansea City FC next season but first need to overcome their tendency toward travel sickness.
In: David Bishop (Celtic Warriors), Brent Cockbain (Celtic Warriors), Ryan Jones (Celtic Warriors), Sonny Parker (Celtic Warriors), Jason Spice (Hurricanes).
Out: Gareth Llewellyn (Narbonne), Andy Lloyd (released), Gareth Morris (Neath RFC), James Storey (Munster), Gavin Thomas (Llanelli Scarlets).
Coach: Lyn Jones.
Last season: 5th.
Odds: 11/2.
Forecast: 6th.