SUMMARY1. Nerve terminals of the rat posterior pituitary were acutely dissociated and identified using a combination of morphological and immunohistochemical techniques. Terminal membrane currents were studied using the 'whole-cell' patch clamp technique and channels were studied using inside-out and outside-out patches.2. In physiological solutions, but with 7 mm 4-aminopyridine (4-AP), depolarizing voltage clamp steps from different holding potentials (-90 or -50 mV) elicited a fast, inward current followed by a slow, sustained, outward current. This outward current did not appear to show any steady-state inactivation.3. The threshold for activation of the outward current was -30 mV and the current-voltage relation was 'bell-shaped'. The amplitude increased with increasingly depolarized potential steps. The outward current reversal potential was measured using tail current analysis and was consistent with that of a potassium current.4. The sustained potassium current was determined to be dependent on the concentration of intracellular calcium. Extracellular Cd2+ (80 /LM), a calcium channel blocker, also reversibly abolished the outward current.5. The current was delayed in onset and was sustained over the length of a 150 msduration depolarizing pulse. The outward current reached a peak plateau and then decayed slowly. The decay was fitted by a single exponential with a time constant of 9 0 + 2-2 s. The decay constants did not show a dependence on voltage but rather on intracellular Caa2+. The time course of recovery from this decay was complex with full recovery taking > 190 s. 6. 4-AP (7 mM), dendrotoxin (100 nM), apamin (40-80 nM), and charybdotoxin (10-100 nM) had no effect on the sustained outward current. In contrast Ba21 G. WANG, P. THORN AND J. R. LEMOS most closely to a Ca2+-activated K+ current (IK(ca)) and not to a delayed rectifier or IA-like current. It also has properties different from that of the Ca2+-dependent outward current described in the magnocellular neuronal cell bodies of the hypothalamus.8. A large conductance channel is often observed in isolated rat neurohypophysial nerve terminals. The channel had a unit conductance of 231 pS in symmetrical 150 mM K+.9. With different potassium gradients across the patch of 150:5 and 5:130 (mM), the conductance decreased to 140 and 121 pS, respectively, and the shift in apparent reversal potentials (+ 42 and -25 mV) were consistent with that of a potassiumselective channel.10. The open probability (P.) of the channel was shown to be dependent on the concentration of calcium (Ca2+) at the intracellular side of the patch. The channel was activated at Ca2+ concentrations greater than 0-5 /M, and reached apparent full activation at around 5 /M with a half-maximal effective concentration (EC50) for Ca2+ = 1-53 JM.11. Most patches showed a voltage-sensitive increase in open probability (14-3 mV/e-fold change) with increasing depolarizations of the patch. Other patches showed little voltage-dependent properties. The activation curve for the probability of...