The spectral and enzymatic characteristics of chromophoric derivatives of carboxypeptidase Aa (EC 3.4.17.1) have been examined at subzero temperatures in supercooled water-in-oil emulsions. Substrate and temperature dependencies of enzyme kinetics indicated the existence of a solution-like enzyme phase that greatly extends the temperature range (>60'C) over which the activity of this enzyme can be measured. The emulsion spectra were virtually identical to those of solutions over a wide range of temperatures. Subzero temperatures (<-10'C) may induce changes of enzyme conformation but not of geometry at the site of the metal atom, nor do they adversely affect activity at any of the temperatures studied. Both structure and function of carboxypeptidase Aa can be examined in supercooled water under identical reaction conditions. Theoretically, the ultimate verification of reaction mechanisms of enzymes demands the determination of their functional and structural characteristics with the same substrates under identical experimental conditions. In practice, however, the requisite experiments can be performed only with great difficulty, if at all. Generally, ideal circumstances for the performance of standard kinetic and thermodynamic experiments vary widely. Whereas rapid kinetics (1-3) call for excellent substrates, thermodynamic techniques are not only less demanding in this regard but, in fact, often utilize inhibitors or pseudosubstrates. Hence, the two approaches can result in quite divergent views of the formation, characteristics, and breakdown of a given enzyme-substrate complex. At present, the structural basis of enzymatic activity is generally deduced from time-averaged procedures at thermodynamic equilibrium, whereas functional conclusions often rest on pre-steady-state or steady-state conditions at "kinetic equilibrium." Owing to the vastly different time frames in which structure and function of enzymes can be assessed at conventional temperatures, it has proven most difficult to delineate the structure of the enzyme-substrate complex at the moment of catalysis.Reduction of temperature to subzero levels is an obvious potential means to reduce or eliminate this disparity. The establishment of conditions, media, and instrumentation for the study of enzymes in aqueous-organic cryosolvents (4-6) has led to the detection of transient species in enzyme reactions.However, organic solvents can adversely affect enzymatic reactions, of course, and both inhibition by solvent (7,8) and effects on substrate binding (9) are not uncommon. Hence, integration of data obtained at room temperature with those at subzero temperatures in organic solvents may generate problems.A water-in-oil emulsion (a reversed micellar system) provides a medium with a temperature range from at least +380C to -380C by supercooling water without freezing and without requiring changes in composition of that medium. Both the preparation of such emulsions and measurement of some of their physical properties have been described (10, 11)....