The lipids of Corynebacterium ovis (strain B1/50) were successively extracted by petroleumether, ethanol-ether (1 : I, v/v) and chloroform.The bulk of the petroleum-ether extract consists mainly of sodium corynomycolate together with sodium salts of CI4, C, , and C,, fatty acids. Some triglycerides and free fatty acids were also detected. Isolated from the ethanol-ether extract were : hydrocarbons, palmitone, free corynomycolic acid, a small amount of free corynomycolenic acid and a peptidolipid fraction. The phospholipid fraction contains a mixture of closely related compounds, having about 3.5 Ol0 P. By hydrolysis, they are split into lipid components (50-70°/, of the initial products; mixtures of C,, and C, , fatty acids and corynomycolic acid), and water soluble components (glycerol, glycerophosphoric acid, inositol, arabinose, and small amounts of amino acids).Complex substances, soluble in ether, having a high content of phosphorus (3.2 to 4.5 o/o) were isolated from 6he chloroform extract. All of them contain glycerol, along with ethanolamine and sugars (glucose, galactose, arabinose, and a fast moving unidentified sugar) in one case, and with amino acids (chemically bound) in two other cases. Moreover, one third of the chloroform extract is made of a fraction (10.8 Ol0 N and 1.3 P) insoluble in ether, which gives, by hydrolysis, 1901, of lipid components and a polypeptide containing all the usual amino acids; the structure of this last fraction is discussed.