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The role of high‐speed solar wind streams in driving relativistic electron acceleration within the Earth's magnetosphere during solar activity minimum conditions has been well documented. The rising phase of the new solar activity cycle (cycle 23) commenced in 1996, and there have recently been a number of coronal mass ejections (CMEs) and related “magnetic clouds” at 1 AU. As these CME/cloud systems interact with the Earth's magnetosphere, some events produce substantial enhancements in the magnetospheric energetic particle population while others do not. This paper compares and contrasts relativistic electron signatures observed by the POLAR, SAMPEX, Highly Elliptical Orbit, and geostationary orbit spacecraft during two magnetic cloud events: May 27–29, 1996, and January 10–11, 1997. Sequences were observed in each case in which the interplanetary magnetic field was first strongly southward …