protein folding ͉ conformational dynamics ͉ diffusion coefficient ͉ unfolded state T he intestinal fatty acid binding protein (IFABP) belongs to a family of proteins that bind a variety of ligands (fatty acids, bile salts, and retinoids) into a large cavity located in the interior of the protein. The structure has been determined by both x-ray (1, 2) and NMR methods (3, 4). The x-ray structure shown in Fig. 1 is believed to represent the closed form of the apo protein, whereas the NMR structure suggests the open form (4). The structure of IFABP consists of 2 -sheets, each containing 5 -strands, and a small helical region. This protein has been an excellent model system for folding studies of -sheet proteins because it is small (15 kDa), monomeric, and does not contain any proline or cysteine residues. Equilibrium unfolding transitions of IFABP monitored by steady state fluorescence or CD measurements can be fit by typical two-state model. However, two recent kinetic studies (5, 6) indicated the presence of intermediates, the first one forming within 200 sec. A second intermediate, formed with a rate constant of Ϸ2,000 sec Ϫ1 , contains the majority of the secondary structure (6). Previous 19 F NMR studies as a function of urea concentration had indicated the presence of an intermediate state in addition to the folded and unfolded forms (7). Hodsdon and Frieden (8), monitoring urea denaturation by NMR, found several unidentified resonances in heteronuclear sequential quantum correlation (HSQC) spectra at low urea concentrations, which disappeared at higher urea concentrations, again indicating the presence of intermediates. In the present study, we have explored the possibility of using fluorescence correlation spectroscopy (FCS) as a tool to measure the conformational dynamics and diffusional properties of apo IFABP in its folded, unfolded, and intermediate states.FCS is emerging as an important technique in chemistry, biophysics, and biochemistry for its applications in measuring diffusional properties and chemical kinetics at low molar concentrations (9, 10). The technique involves measuring fluorescence fluctuations resulting from the changes in the number of fluorophores due to diffusion or chemical reaction under conditions of thermodynamic equilibrium in a small observation volume.There are generally two kinds of applications of FCS in protein biophysics. First, the diffusion time and hence the diffusion coefficient of a protein can be measured very accurately. Second, by suitably optimizing the measurement conditions, FCS can be used to study protein dynamics or conformational events in the microsecond time scale (11).In earlier studies, we mutated specific residues of IFABP to cysteine and examined the properties of the mutated proteins (12) as well as proteins for which the fluorescent probe fluorescein was covalently attached to the cysteine residue (13). These studies showed that the probe attached to cysteine at position 60 (V60C) was located within the interior cavity and that the fluorescence p...