Two isoforms of caveolin-1, ␣ and , had been thought to be generated by alternative translation initiation of an mRNA (FL mRNA), but we showed previously that a variant mRNA (5V mRNA) encodes the  isoform specifically (Kogo, H., and Fujimoto, T. (2000) FEBS Lett. 465, 119 -123). In the present study, we demonstrated strong correlation between the expression of the caveolin-1 protein isoforms and mRNA variants in culture cells and the developing mouse lung. The ␣ isoform protein and FL mRNA were expressed constantly during the lung development, whereas expression of the  isoform protein and 5V mRNA was negligible in the fetal lung before 17.5 days post-coitum, and markedly increased simultaneously at 18.5 days post coitum, when the alveolar type I cells started to differentiate. Immunohistochemical analysis revealed the cell type-specific expression of the two isoforms; the alveolar type I cell expresses the  isoform predominantly, while the endothelium harbors the ␣ isoform chiefly. The mutually exclusive expression of caveolin-1 isoforms was verified by Western blotting of the selective plasma membrane preparation obtained from the endothelial and alveolar epithelial cells. The present result indicates that the two caveolin-1 isoforms are generated from distinct mRNAs in vivo and that their production is regulated independently at the transcriptional level. The result also suggests that the ␣ and  isoforms of caveolin-1 may have unique physiological functions.Caveolae are small invaginations of the plasma membrane and have been implicated in many cell functions, including endocytosis, cholesterol transport, signal transduction, and tumor suppression (for reviews, see Refs. 1-4). Although caveolae are present in most tissues, lung has abundant caveolae in both endothelial and alveolar type I cells. Caveolins (caveolin-1, -2, and -3) are major constituents of caveolae (5-7). Among them, caveolin-1 was discovered first and has been characterized most extensively. Caveolin-1 has been shown to interact with many signaling proteins by the scaffolding domain (8, 9). The cholesterol binding property of caveolin-1 (10) appears to be related to the unique lipidic composition of the caveolar membrane and its involvement in cholesterol transport (11). Furthermore, ectopic expression of caveolin-1 is sufficient for de novo formation of caveolae in cells lacking this organelle (12). These observations suggest that caveolin-1 is an indispensable protein for both structure and function of caveolae.There are two isoforms of caveolin-1, termed ␣ and . They are identical except for the additional 31 amino acids of the ␣ isoform at its N terminus. The two isoforms were reported to show an overlapping, but slightly different subcellular distribution in culture cells (13). Our detailed observation by immunogold electron microscopy of a freeze fracture replica revealed that the ␣ isoform preferentially distributed to caveolae with deep invagination in cultured fibroblasts (14). Specific phosphorylation of the ␣ isoform in v-Src...