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Spectrum efficient multiple relay selection strategy for two-hop cooperative decode-and-forward relay networks is proposed for the case when the sum power among all relay nodes is limited. Based on the outage-multiplexing tradeoff (OMT), the number of active relay nodes is maximized so that the resulting sum-relay capacity is maximized while each relay outage capacity remains greater than or equal to a certain target level. Using asymptotic analysis, it is shown that for the proposed OMT relaying strategy the associated multiplexing and cooperative system diversity gains improve proportionally with the number of active relay nodes. It is also shown analytically that the proposed OMT relaying outperforms the conventional opportunistic single relaying in terms of the sum-relay capacity.