Summary. Freeze-fracture electronmicroscopy demonstrates that vasopressin stimulation of isolated toad bladder results in a striking morphologic alteration of epithelial membrane structure. This alteration is characterized by the aggregation of intramembranous particles in orderly linear arrays at multiple sites in the luminal membranes of granular cells specifically. The size ,of these aggregates varies considerably, in terms of area, over a range from 0.5 to 70x 10 -3 gm 2. The median aggregate size is about 10.5x 10 .3 gm 2. Since the extent of vasopressin-associated particle aggregation, in terms of frequency of sites per area of membrane or cumulative area of membrane occupied by them, closely correlates with induced changes in transport function, as measured by osmotic water flow, the aggregates themselves appear to be of physiologic significance in the mechanism of action of vasopressin. This hypothesis is supported by the observations that sites of aggregation occur (a) in response to serosal exposure to hormone specifically, (b) independently of an osmotic gradient, and (c) following stimulation with cyclic adenosine monophosphate.The isolated toad urinary bladder has been used extensively to investigate the mechanism by which vasopressin acts to enhance the transepithelial movement of water and many solutes, especially sodium and urea. It has been established that the permeability barrier in toad bladder which is altered by vasopressin stimulation to permit this effect on these substances is located within its epithelial luminal membrane [7,14,16,19,22,24]. In addition, considerable evidence indicates that the pathways by which these different substances traverse the luminal barrier are selective and distinct [2,3,12,20,21,27,31,34,39]. In the case of water, the luminal permeability barrier which is altered by vasopressin stimulation appears specifically confined to granular cells [6,8,11,33], but for the other substances comparable information is not available.