␥-Secretase is composed of at least four proteins, presenilin (PS), nicastrin (NCT), Aph1, and Pen2. PS is the catalytic subunit of the ␥-secretase complex, having aspartic protease activity. PS has two homologs, namely, PS1 and PS2. To compare the activity of these complexes containing different PSs, we reconstituted them in yeast, which lacks ␥-secretase homologs. Yeast cells were transformed with PS1 or PS2, NCT, Pen2, Aph1, and artificial substrate C55-Gal4p. After substrate cleavage, Gal4p translocates to the nucleus and activates transcription of the reporter genes ADE2, HIS3, and lacZ. ␥-Secretase activity was measured based on yeast growth on selective media and -galactosidase activity. PS1 ␥-secretase was ϳ24-fold more active than PS2 ␥-secretase in the -galactosidase assay. Using yeast microsomes containing ␥-secretase and C55, we compared the concentration of A generated by PS1 or PS2 ␥-secretase. PS1 ␥-secretase produced ϳ24-fold more A than PS2 ␥-secretase. We found the optimal pH of A production by PS2 to be 7.0, as for PS1, and that the PS2 complex included immature NCT, unlike the PS1 complex, which included mature NCT. In this study, we compared the activity of PS1 or PS2 per one ␥-secretase complex. Co-immunoprecipitation experiments using yeast microsomes showed that PS1 concentrations in the ␥-secretase complex were ϳ28 times higher than that of PS2. Our data suggest that the PS1 complex is only marginally less active than the PS2 complex in A production.␥-Secretase consists of at least four subunits, presenilin (PS), 3 nicastrin (NCT), anterior pharynx defective 1 (Aph1), and presenilin enhancer 2 (Pen2) (1). PS is the catalytic subunit of ␥-secretase with aspartic protease activity (2, 3). Amyloid- (A) peptide, which plays a causative role in Alzheimer disease (AD), is produced after sequential cleavage of amyloid- precursor protein (APP) by -secretase and ␥-secretase. The A mainly consists of A40 and A42 containing 40 and 42 amino acids, respectively. A42 is more prone to aggregation (4) and more toxic to neuronal cells. Many studies have reported that familial AD (FAD) mutations in PS and APP result in increased ratios of A42 to A40. The high A42 ratio is believed to lead to AD.PS has two homologs, namely, PS1 and PS2 (67% identical at the amino acid level). Aph1 also has two homologs: Aph1a (with alternative splicing variants Aph1a-S and a-L) and Aph1b. Sato et al. (5) reported that ␥-secretase contained only one of each subunit, and as such, six distinct ␥-secretases exist. Indeed, both PS1 and PS2 form a ␥-secretase complex with the other subunits, producing A (6). ␥-Secretase cleaves many type I transmembrane proteins including APP and Notch, but the mechanism by which the different ␥-secretases select their substrates is unclear. These different ␥-secretases may have different functions and substrate selectivity.Ubiquitous expression of PS1 and PS2 mRNAs in many human and mouse tissues has been reported, with varying expression levels across their tissues and during...