Look(from Transact-SQL help:SQL Server 7):
@@IDENTITY (T-SQL)
Returns the last-inserted identity value.
Syntax
@@IDENTITY
Return Types
numeric
Remarks
After an INSERT, SELECT INTO, or bulk copy statement completes, @@IDENTITY contains the last identity value generated by the statement. If the statement did not affect any tables with identity columns, @@IDENTITY returns NULL. If multiple rows are inserted, generating multiple identity values, @@IDENTITY returns the last identity value generated. If the statement fires one or more triggers that perform inserts that generate identity values, calling @@IDENTITY immediately after the statement returns the last identity value generated by the triggers. The @@IDENTITY value does not revert to a previous setting if the INSERT or SELECT INTO statement or bulk copy fails, or if the transaction is rolled back.
Examples
This example inserts a row into a table with an identity column and uses @@IDENTITY to display the identity value used in the new row.
INSERT INTO jobs (job_desc,min_lvl,max_lvl)
VALUES ('Accountant',12,125)
SELECT @@IDENTITY AS 'Identity'