1. P-Bungarotoxin, a presynaptically active neurotoxin from the venom of Bungarus multicinctus, was radiolabelled with lZsI and its binding to synaptic membranes from rat brain was analyzed. The interaction of these binding sites with those for dendrotoxin (a convulsant polypeptide from mamba venom) and mast-celldegranulating peptide (from bee venom) was examined in the light of the known effects of all three toxins on voltage-dependent K + currents.2. When measured in Krebs/phosphate buffer, the binding appeared monotonic at low concentrations of radioiodinated P-bungarotoxin (& 4. In Krebs medium, /I-bungarotoxin was a very weak antagonist of the binding of 1251-labelled dendrotoxin. In imidazole medium, however, the efficacy of the inhibition was markedly increased; analysis of this inhibition showed it to be non-competitive.5. Dendrotoxin inhibited the binding of radioiodinated P-bungarotoxin in Krebs medium with high potency, although the interaction was by a complex, non-competitive mechanism.6. Mast-cell-degranulating peptide inhibited non-competitively the binding of both radiolabelled dendrotoxin and P-bungarotoxin but with relatively low potency.7. A speculative schematic model of the dendrotoxin/P-bungarotoxin/mast-cell-deganulating peptide binding component(s) is proposed. Findings are discussed in terms of the likely involvement of these sites with voltagedependent K+-channel proteins.In contrast to Na+ [l] or Ca2+ [2] channels, little is known about the molecular architecture of voltage-dependent K + channels. Progress has until recently been hampered by the relative paucity of specific ligands with which to dissect the structure and function of the numerous varieties of channel that mediate voltage-sensitive K + conductances and thereby regulate cell excitability. Two candidates for fulfillment of this role are the snake venom polypeptides dendrotoxin (DTX) and P-bungarotoxin (P-BuTX), which exert potent effects on neurotransmitter release