The method of invariant manifold is developed for a derivation of reduced description in kinetic equations of dilute polymeric solutions. It is demonstrated that this reduced description becomes universal in the limit of small Deborah and Weissenberg numbers, and it is represented by the (revised) Oldroyd 8 constants constitutive equation for the polymeric stress tensor. Coefficients of this constitutive equation are expressed in terms of the microscopic parameters. A. systematic procedure of corrections to the revised Oldroyd 8 constants equations is developed. Results are tested with simple flows. (C) 2000 Elsevier Science B.V. All rights reserved.