The redox state of the intraluminal pyridine nucleotide pool was investigated in rat liver microsomal vesicles. The vesicles showed cortisone reductase activity in the absence of added reductants, which was dependent on the integrity of the membrane. The intraluminal pyridine nucleotide pool could be oxidized by the addition of cortisone or metyrapone but not of glutathione. On the other hand, intraluminal pyridine nucleotides were slightly reduced by cortisol or glucose 6-phosphate, although glutathione was completely ineffective. Redox state of microsomal protein thiols/disulfides was not altered either by manipulations affecting the redox state of pyridine nucleotides or by the addition of NAD(P) ؉ or NAD(P)H. The uncoupling of the thiol/disulfide and NAD(P) ؉ / NAD(P)H redox couples was not because of their subcompartmentation, because enzymes responsible for the intraluminal oxidoreduction of pyridine nucleotides were distributed equally in smooth and rough microsomal subfractions. Instead, the phenomenon can be explained by the negligible representation of glutathione reductase in the endoplasmic reticulum lumen. The results demonstrated the separate existence of two redox systems in the endoplasmic reticulum lumen, which explains the contemporary functioning of oxidative folding and of powerful reductive reactions.The lumen of the endoplasmic reticulum (ER) 3 is a separate metabolic compartment of the eukaryotic cell (1). Because of the limited and selective permeability of the ER membrane and because of special intraluminal reactions, it differs from the cytosol in numerous parameters. One of the most characteristic differences is that luminal thiols (including protein thiols and glutathione) are present in a more oxidized state than the cytosolic ones. Although the ratio between reduced and oxidized glutathione is 100:1 in the cytosol, this value is around 1-2:1 in the ER lumen (2). The redox potential calculated from these values is Ϫ0.24 and Ϫ0.18 V, respectively. Recent observations suggest an even larger difference between the redox potentials of the two compartments (3).The typical redox potential of a given compartment is a major determinant of rate and direction of redox reactions. The oxidizing environment in the ER lumen is both a prerequisite and a consequence of the oxidative folding of secretory and membrane proteins (4 -6). By generalizing the observations related to the redox state of thiols found in the ER of cells engaged in protein secretion, it is now supposed that the redox conditions in the ER lumen are uniformly oxidizing. However, several intraluminal reactions have been described, which require reducing equivalents. Such reactions involve the isomerization of disulfide bonds (7), the steps of the vitamin K cycle (8), the biotransformation of several endogenous ketones and aldehydes (9), and the reactivation of steroids. One of the main sources of intraluminal reducing equivalents is hexose-6-phosphate dehydrogenase (H6PDH), which generates NADPH at the expense of the oxidation of ...