Changes of some photosynthetic properties of high-CO2 grown cells of Chlorella pyrenoidosa during adaptation to low-CO2 conditions have been investigated. The K,,, value of photosynthesis of the high-CO2 grown cells for dissolved inorganic carbon was 3.3 millimolar and decreased to 25 to 30 micromolar within 4 hours after transferring to air. In the presence of saturating CO2 concentrations the photosynthetic activity of the high-CO2 grown cells was 1.5 times as high as that of the low-CO2 grown cells. There was a significant rise of the photosynthetic activity during adaptation of the high-CO2 grown cells to air, followed by a steady decrease. The activity of ribulose 1,5-bisphosphate carboxylase/oxygenase in both the high-and low-CO2 grown cells was close to the photosynthetic activity of the cells. The concentration of ribulose 1,5-bisphosphate (RuBP) was higher in the low-CO2 adapting and low-CO2 grown cells than in the high-CO2 grown cells regardless of the photosynthetic rate.This seems to be due to an increased RuBP regeneration activity during adaptation followed by maintenance of the new higher concentration. The RuBP level always exceeded the concentration of ribulose 1,5-bisphosphate carboxylase/oxygenase RuBP binding sites in both the high-and low-CO2 grown cells at any dissolved inorganic carbon concentration.Rubisco at low CO2 and was decreased to or below the level of the binding sites with increasing atmospheric CO2 concentration. Perchorowicz et al. (17), however, obtained results with wheat leaves that were not consistent with Farquhar's model.A mechanism which seems to regulate the CO2 conditions in the cells occurs in green and blue-green algae (2,11,14,19). Algal cells grown with high-CO2 concentrations seem to lack an effective CO2 concentrating system, but the mechanism to concentrate CO2 in algal cells is induced when they are grown on low-CO2 concentrations such as air (12,13,15,18,20). The adaptation to low-CO2 conditions is completed a few hours after transferring the cells, grown on high-CO2 concentrations, to air, and is suppressed by protein synthesis inhibitors (12, 13). While several studies report the changes in photosynthetic characteristics (12,13,15,19,21) or changes in carbonic anhydrase levels and Rubisco content (8,18,20,21,23,25) that occur when cells are transferred from high-CO2 to low-CO2 conditions, there has been little information on the regulation of the photosynthetic carbon reduction cycle during this adaptation.In the present paper, we determined Rubisco content, RuBP and PGA concentrations, and photosynthetic activity during adaptation of high-CO2 grown cells of Chlorella pyrenoidosa to growth on air. Based on these results and the apparent ability for RuBP regeneration in high-and low-CO2 grown cells of Chlorella during photosynthesis, some comments are offered on the regulation of photosynthesis in Chlorella. To