CAMP-binding ectoprotein (Gcel ) and lipoprotein lipase (LPL) are anchored to plasma membranes of rat adipocytes by glycosylphosphatidylinositol (GPI) moieties as demonstrated by cleavage by bacterial phosphatidylinositol-specific phospholipase C (PI-PLC), reactivity with anti-crossreacting determinant antibodies (anti-CRD), and metabolic labeling with radiolabeled palmitic acid and myoinositol. Quantitative release from the membrane of LPL and Gcel requires both lipolytic removal of their GPI anchors and the presence of either 2 M NaCl or 1 mM inositol 1,2-cyclic monophosphate or inositol 1 -monophosphate. PI-PLC-cleaved and released LPL or Gcel reassociates with isolated plasma membranes of rat adipocytes and, less efficiently, with membranes of 3T3 fibroblasts. The specificity of the reassociation is demonstrated (i) by its inhibition after pretreatment of the membranes with trypsin, (ii) by its competition with inositol 1,2-cyclic monophosphate and inositol 1-monophosphate in a concentration-dependent manner, and (iii) by the limited number of binding sites. Enzymic or chemical removal as well as masking with anti-CRD antibodies of the terminal inositol (cyclic) monophosphate moiety of hydrophilic Gcel and LPL significantly impairs the reassociation. These data suggest that in rat adipocytes GPI-proteins are not readily released from the cell surface upon lipolytic cleavage, but remain associated through a receptor which specifically recognizes the terminal inositol (cyclic) monophosphate epitope of the (G)PI-PLCcleaved GPI moiety. This interaction may have implications for the regulated membrane release of GPIproteins and for their possible internalization.GPI-proteins,' a subclass of ectoproteins in both lower and higher eucaryotes, are anchored to the outer leaflet of the plasma membrane by covalently attached GPI glycolipids which are characterized by a high degree of structural conservation from yeast to man. Their linear core structure is built from phosphatidylinositol bound via nonacetylated glucosamine to three mannose residues. The nonreducing end is linked to ethanolamine via a phosphodiester bridge. From this conserved core glycan various carbohydrate and/ or phosphoethanolamine residues may branch off [for a review see Ferguson and Williams (1988), Low (1989), and McConville and Ferguson (1993l. During the biosynthesis of GPI-proteins, the amino group of ethanolamine of the complete preformed GPI structure is coupled in a pseudo transpeptidation reaction to the carboxy terminus of the mature fully translated polypeptide chain, thereby replacing a transmembrane domain present in the protein precursor [for a review see Doering et al. (1990) and Thomas et al. (1990)l.Despite the lack of a cytoplasmic domain someGPI-proteins seem to have important roles in transmembrane signaling