We describe an experimental approach to the measurement of protein subunit exchange in which biotinylated subunits mediate attachment of35S-labeled subunits to a streptavidin column as a result of the exchange process. Application of the method to Escherichia coli catabolite activator protein (CAP) revealed that in the absence of cAMP, the dimerization equilibrium constant is 3 x 1010 M-', with a dimer lifetime of 300 min. Exchange of CAP subunits is accelerated at least 1000-fold by the presence of nonspecific DNA, under low ionic strength conditions. Catalysis of exchange also occurs at physiological ionic conditions. In contrast, physiological concentrations of cAMP stabilize CAP with respect to subunit exchange in either the presence or the absence of DNA. We discuss the functional implications of monomerization of gene-regulatory proteins resulting from kinetic and thermodynamic lability of their dimers.During the past several years there has been rapid growth of structural information about gene-regulatory proteins, particularly prokaryotic helix-turn-helix proteins (1, 2). X-ray crystal structures have been reported for at least two ligandregulated proteins, catabolite activator protein (CAP) and trp repressor (1,3,4), and for several other regulatory proteins (5, 6). These molecules have in common a homodimeric composition, generally thought to be an efficient motif by which to gain greater binding affinity and specificity for their respective pseudosymmetric DNA binding sequences (7). Subunit interchange of dimeric regulatory proteins has been postulated in order to explain phenomena ranging from transcriptional regulation by heterodimers (8, 9) to catalysis by DNA of the dissociation of a protein-DNA complex by stepwise removal of the monomers (10).CAP is a homodimeric protein at physiological ionic strength. The ability of CAP to stimulate DNA-dependent transcription by Escherichia coli RNA polymerase is cAMPdependent. In the absence of polymerase, cAMP stimulates sequence-specific binding of CAP to the DNA region upstream of the promoter; without cAMP only weaker, nonspecific DNA binding is observed. The dimer interaction in CAP is through hydrophobic surfaces of identical subunits, and each of the two cAMP binding sites are composed of elements of both subunits (3). Gel electrophoresis studies have indicated that the dissociation of specific CAPpromoter complexes displays a second-order dependence on competing DNA concentration. One of the mechanisms proposed involves sequential removal of monomers from the specific complex by nonspecific competitor DNA (10).In this article we describe a direct assay to test this hypothesis, employing an approach in which biotinylated CAP subunits act to retain 35S-labeled subunits to a streptavidin column as a result of subunit exchange. The assay was employed to assess the effect ofnatural ligands such as cAMP and DNA. We find that DNA alone destabilizes the CAP dimer, whereas cAMP has a stabilizing effect. These results lead us to propose that cAMP regul...