We intend to obtain photometry of a large, high-redshift sample of Ultraluminous IRAS galaxies, over the full spectral range offered by ISO. We will then be able to explore the evolution of the spectral energy distribution with redshift for this very important class of galaxies. Direct comparisons with local high-luminosity samples would reveal any changes in the SED with redshift which might indicate either a change in the dominant source of power, e.g. an increase in AGN activity over star-burst activity, or the dust distribution, e.g. higher optical depth, different geometries. We would be able to deconvolve the observed SED into components due to AGN and starburst and investigate how their relative contributions change with both luminosity and, when compared with a low-z sample, redshift. Radiative transfer modeling of these SEDs would provide vital ingredients to models of AGN and starburst evolution. This kind of study represents a significant advance over traditional methods of studying evolution which are usually limited to studying changes in the luminosity function which can often be ambiguous. ISO data is vital because such galaxies emit the vast bulk of their energy at far-infrared wavelengths not accessible to ground based instruments.