The effect of perfusion of the human term placenta on the content of hemoglobin, protein, nucleic acids, water and LDH total and isoenzyme activities was determined. Whereas a 7% increase of tissue water was observed upon perfusion, all other parameters showed a significant decrease in the perfused tissue. The most marked reduction in LDH isoenzymes, which were separated by column chromatography, occurred in the main erythrocyte fractions LDH 1 2 and 3 whereas LDH 4 and 5 remained unchanged. The perfused placenta contained all five fractions with a predominance of LDH 3 and 4.