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This work considers the performance of a DS/CDMA system in the presence of narrow-band interference and imperfect channel estimation. A receiver based on MMSE channel estimation and maximum-likelihood data detection is assumed. An adaptive MMSE receiver, based on the LMS algorithm, is also explored. The performance of the DS/CDMA system is compared with that of a recently proposed UWB spectral-encoded system. The formulation and numerical results presented allow for a better understanding of the spectral overlay effects for UWB communication systems.