Soybean seeds and seedlings contain monophosphatase (MP), phosphodiesterase (PDE), and a calmodulin (CAM) that stimulates PDE activity. Interactions of these proteins likely regulate phosphate metabolism in the seed. This paper identifies proteins that interact with CAM and defines the function of CAM in soybeans. We find that an M P enzyme can inhibit CAM activity and is associated with CAM in soybean whey. MP enzyme is separated into a single peak by DEAE chromatography in the presence of a calcium chelator, EGTA, and further chromatography on a calmodulin affinity column. Its binding to the calmodulin affinity column is reversible and depends on the presence of Ca2+ ions. HPLC, gel electrophoresis, and gel filtration analyses of the MP enzyme show that it contains two subunits (24 and 20 kDa), but neither of the subunits alone exhibits phosphatase activity. The 20-kDa subunit retains the ability to inhibit CAM stimulation of PDE. Recombination of the two subunits yields MP activity that can be further enhanced by the addition of CAM. MP activity appears to be less stable than the CAM inhibitor activity.As part of studies on CAM in soybeans, we isolated the protein from soybean whey by chromatographing extracts on DEAE and then subjecting collected fractions to affinity chromatography on W-7 agarose to obtain pure CAM. The purified protein is similar to calmodulin from spinach and bovine brain in terms of ability to stimulate PDE activity and electrophoretic mobility as a 18-kDa protein (unpublished result). Its behavior during purification suggests that it is associated with other calcium-binding proteins in the whey, particularly in the presence of Ca2+ ions. A calcium chelator (EGTA) is required during DEAE chromatography to separate CAM from other whey proteins. We now have evidence that the proteins to which CAM binds include an MP enzyme that hydrolyzes p-nitrophenyl phosphate. This MP enzyme also inhibits the stimulatory action of CAM on PDE. It is a multisubunit