The influence on the adhesion to some metal surfaces and the damping properties of various modified styrene-ethylene/butylene-styrene (SEBS) materials was evaluated. Modification of the different phases of the SEBS with resins was shown to have a large effect on the damping properties of the polymers, which were evaluated by dynamic mechanical analysis (DMA). A small amount of maleic anhydride grafted onto the EB block was found to lead to a significant improvement in the adhesion of the polymer to some metal surfaces without affecting the damping properties of the polymers. The results of the DMA tests on the polymers were used to calculate the composite loss factor (CLF) for a steel laminate, which consisted of two steel plates with a polymeric layer in between, according to the theory proposed by Ross, Ungar, and Kerwin. The calculated results were compared with the measured CLFs determined in vibrating beam tests (VBTs). The agreement between the calculated and measured values was quite fair, provided that the DMA values used for the calculations were recalculated to the actual higher frequencies used in the VBTs, using the time-temperature superposition principle.