A set of new diperoxovanadate(V) complexes with the dipeptides glycyl-glycine or glycyl-leucine as ancillary ligands of the type, A[VO(O 2 ) 2 (peptide)(H 2 O)] Á H 2 O, A = Na or K have been synthesized and characterized by elemental analysis, thermal analysis, magnetic susceptibility and spectral studies. The complexes contain side-on bound peroxo groups and a dipeptide zwitterion as co-ligand, binding the metal center unidentately through O (carboxylate) atom. The compounds are highly stable toward decomposition in solutions of acidic as well as physiological pH and serve as weak substrates to catalase, undergoing degradation in the presence of the enzyme at a rate much slower than H 2 O 2 . The compounds stoichiometrically oxidize GSH to GSSG. On comparing the GSH oxidizing ability of these compounds with those of previously reported peroxotungsten compounds containing similar co-ligands, a significant difference was noted. The compounds induce a strong inhibitory effect on alkaline phosphatase activity with a potency higher than that of the free peptides, vanadate, or peroxovanadate.