An increasing number of surface proteins are found anchored at the plasma membrane of various tissues and cell types by virtue of a glycosyl-phosphatidylinositol (GPI) structure instead of a transmembrane protein domain. This kind of membrane anchor typically contains, in addition to the myoinositol-harboring phospholipid, a carbohydrate core consisting of one nonacetylated glucosamine and three mannose residues in characteristic linkage. The latter may be branched and carry additional mannose, galactose, and/or phosphoethanolamine moieties. The preformed anchor structure is linked by a phosphodiester and an ethanolamine bridge to the carboxy terminus of the respective protein, thereby replacing a proteinaceous transmembrane domain present in the newly synthesized protein precursor (for reviews, see references 14, 17, 31, 52, and 56). The physiological significance of membrane anchorage by a glycolipidic structure has remained greatly obscure. Since GPI-anchored proteins have been detected recently also in lower eucaryotes, including the yeast Saccharomyces cerevisiae (9,35,43,54), the evolutionary conservation from S. cerevisiae to humans of the GPI anchor argues that it confers properties on the respective proteins that are not achieved by a proteinaceous transmembrane domain.It has been proposed that the spatial requirements, clustering behavior, and diffusion properties of GPI-anchored proteins in the outer leaflet of plasma membranes are the parameters critical for the use of either a transmembrane domain or a GPI moiety for membrane anchorage of a protein (7,13,61,62). In addition, it has been proposed, on the basis that, in situ, GPI anchors may be cleaved upon activation of endogenous (glycosyl)-phosphatidylinositol-specific phospholipases ([G]PIPLs), that GPI anchorage plays a role in regulating the concentration of certain proteins at the cell surface or in controlling protein localization and topology: in HeLa cells and in cultured bone marrow stromal cells, GPI-anchored decay-accelerating factor and heparan sulfate proteoglycan, respectively, are apparently removed constitutively from the plasma membrane and released into the culture medium by the action of an endogenous of type D (G)PI-PL ([G]PI-PLD) (32). In the yeast S. cerevisiae, expression of ␣-agglutinin at the cell wall depends on its synthesis as a GPI-anchored protein and occurs via an intermediate which lacks the myo-inositol moiety of the GPI anchor glycan (28, 59). However, other than (G)PI-PLs, which leave the myo-inositol residue attached to the glycan structure, processing enzymes of GPI anchors have not been identified. In addition to these cases of constitutive GPI anchor processing, in some vertebrate cells certain external signals, provided by serum factors like insulin and growth factors or by drugs, have been found to activate phospholipases which are capable of cleaving GPI anchors (20,26,40,48). In the case of the insulin-or sulfonylurea-induced lipolytic cleavage of the GPI anchors of lipoprotein lipase, 5Ј-nucleotidase, and ...