The nature of the coupling between neuronal activity and the hemodynamic response is the subject of intensive research. As a means to simultaneously measure parametric changes of T* 2 , initial intensity (I 0 ) and perfusion with high temporal resolution, a multi-image EPI technique with slice-selective inversion recovery (ssIR) for arterial spin labeling was developed and implemented. Comparative measurements with and without the preceding slice-selective inversion pulse were performed. I 0 and R* 2 changes induced by primary visual stimulation were separated. For ssIR-multi-image EPI the average change of I 0 over all 12 subjects was 3.4%, corresponding to a perfusion change of 40 ml/min/100 g, whereas only minor I 0 changes were observed without inversion. On average, the R* 2 of the activated pixels changed by -0. Most functional magnetic resonance imaging (fMRI) studies are based on the blood oxygenation level-dependent (BOLD) contrast, which relies on changes in the local deoxyhemoglobin concentration (1,2). The mechanisms leading to the BOLD contrast, i.e., the exact relation between the observed T* 2 /T 2 change and the neuronal activity, are still under discussion since the change in T* 2 /T 2 depends on the complex interaction of several physiological parameters (cerebral blood flow (CBF), cerebral blood volume (CBV), and cerebral metabolic rate of oxygen consumption (CMRO 2 )). Conventional fMRI using BOLD contrast cannot separate the different effects leading to activation-induced signal changes such as T* 2 or inflow increase. Furthermore, BOLD-based fMRI techniques depend upon the nonlinear coupling between CBF and CMRO 2 during cortical activation. It cannot necessarily be assumed that this coupling is present under all circumstances and in all regions of the brain (3,4). On the other hand, it is generally accepted that changes in regional CBF are more directly related to neuronal activity than the BOLD contrast. Thus, perfusion-based fMRI (5-8) provides a potentially better spatial localization of activation sites; however, it is less sensitive and has a lower temporal resolution than BOLD-fMRI. A measurement of both BOLD and regional CBF responses in fMRI offers the possibility of separating and comparing these two phenomena, and thus can yield further insight into the underlying mechanisms of the BOLD effect. The nonreproducibility of neuronal activity or hemodynamic changes, subject motion, and system instabilities, however, impedes an accurate comparison of the different effects when performing separate fMRI experiments.Recently, combined measurements of both image contrasts, obtained by interleaving different pulse sequences during a single fMRI session, have been proposed using two different approaches. BOLD and CBF have been measured consecutively during the same task, for example, by alternated acquisition of FAIR-and T* 2 -weighted EPI images (9 -11). The pulsed arterial spin labeling (ASL) techniques used mostly depend on CBF changes, but the individual IR images are inevitably T 2 /T *...