The production of the low-mass dielectrons is considered to be a powerful tool to study the properties of the hot and dense matter created in the ultra-relativistic heavy-ion collisions. We present the preliminary results on the first measurements of the low-mass dielectron continuum in Au+Au collisions and the phi meson production measured in Au+Au and d+Au collisions at sqrt{s_NN} = 200 GeV performed by the PHENIX experiment.
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