A completely regioselective approach to bicyclic isoxazolines has been found starting from 4‐cyclopentene‐1,3‐dione or 2‐cyclopentenones. 1,3‐Dipolar cycloaddition with nitrile oxides gave different semirigid bicyclic scaffolds with at least four points of elaboration for molecular diversity. From these intermediates, two families of regioisomer isoxazolines can be prepared with complete control of their relative stereochemistry. Further elaboration of functional groups was demonstrated in order to exploit a successive parallel preparation of arrays of compounds. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2003)