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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
The one before the cat controls the air/fuel mixture the one after just monitors the cat to see if it is working. If you are looking to try to get better gas mileage replace the front one.
I know mine only has two. I'd replace them both, they are only like 38 bucks and I think they are both important for the system to run properly. The only downside is getting them plugged in because the plugs are on top of the tranny where you can't see them.