Find the number of permutations of the letters $ABCDE$ where the letters $A$ and $B$ are not adjacent and the letters $C$ and $D$ are not adjacent. For example, count the permutations $ACBDE$ and $DEBCA$ but not $ABCED$ or $EDCBA$.
1. **Calculate the total number of permutations of the letters \(ABCDE\):**
   \[
   5! = 120
   \]
   There are \(120\) permutations of the letters \(ABCDE\).

2. **Calculate the number of permutations where \(A\) and \(B\) are adjacent:**
   - Treat \(A\) and \(B\) as a single unit. This gives us the units \(\{AB, C, D, E\}\).
   - The number of permutations of these 4 units is:
     \[
     4! = 24
     \]
   - Since \(A\) and \(B\) can be arranged in \(2!\) ways within their unit:
     \[
     24 \times 2 = 48
     \]
   Thus, there are \(48\) permutations where \(A\) and \(B\) are adjacent.

3. **Calculate the number of permutations where \(C\) and \(D\) are adjacent:**
   - Treat \(C\) and \(D\) as a single unit. This gives us the units \(\{A, B, CD, E\}\).
   - The number of permutations of these 4 units is:
     \[
     4! = 24
     \]
   - Since \(C\) and \(D\) can be arranged in \(2!\) ways within their unit:
     \[
     24 \times 2 = 48
     \]
   Thus, there are \(48\) permutations where \(C\) and \(D\) are adjacent.

4. **Calculate the number of permutations where both \(A\) and \(B\) are adjacent and \(C\) and \(D\) are adjacent:**
   - Treat \(A\) and \(B\) as a single unit and \(C\) and \(D\) as another single unit. This gives us the units \(\{AB, CD, E\}\).
   - The number of permutations of these 3 units is:
     \[
     3! = 6
     \]
   - Since \(A\) and \(B\) can be arranged in \(2!\) ways within their unit and \(C\) and \(D\) can be arranged in \(2!\) ways within their unit:
     \[
     6 \times 2 \times 2 = 24
     \]
   Thus, there are \(24\) permutations where both \(A\) and \(B\) are adjacent and \(C\) and \(D\) are adjacent.

5. **Apply the principle of inclusion-exclusion to find the number of permutations where \(A\) and \(B\) are not adjacent and \(C\) and \(D\) are not adjacent:**
   \[
   120 - 48 - 48 + 24 = 120 - 72 = 48
   \]

The final answer is \(\boxed{48}\).