The lytic effect of oestrogen administered within the first 5 days of ovulation in the guinea-pig can be abolished by hysterectomy and is greatly reduced by hypophysectomy. After Day 9 of the cycle, large doses of oestrogen resulted in the maintenance of the CL for at least 3 weeks after ovulation, and in many instances for more than 4 weeks, and their further growth to sizes seen after hysterectomy or during pregnancy (3\ m=. \ 2 \ m=+-\ 0\m=.\3 mm3). These large CL contained and secreted more progesterone than those of the normal cycle. Hypophysectomy did not abolish the antiluteolytic effect of oestrogen. A luteotrophic, not solely an antiluteolytic, effect of the hormone could be demonstrated. The luteolytic or luteotrophic action of oestrogen did not depend upon the age of the CL but upon pituitary and/or uterine factors. The study used mainly stilboestrol, but similar results were obtained with oestradiol compounds.