The Tetrahymena ribozyme derived from the self-splicing group I intron binds a 5 -splice site analog (S) and guanosine (G), catalyzing their conversion to a 5 -exon analog (P) and GA. Herein, we show that binding of guanosine is exceptionally slow, limiting the reaction at near neutral pH. Our results implicate a conformational rearrangement on guanosine binding, likely because the binding site is not prearranged in the absence of ligand. The fast accommodation of guanosine (10 2 to 10 3 ⅐s ؊1 ) and prior structural data suggest local rather than global rearrangements, raising the possibility that folding of this and perhaps other large RNAs is not fully cooperative. Guanosine binding is accelerated by addition of residues that form helices, referred to as P9.0 and P10, immediately 5 and 3 to the guanosine. These rate enhancements provide evidence for binding intermediates that have the adjacent helices formed before accommodation of guanosine into its binding site. Because the ability to form the P9.0 and P10 helices distinguishes the guanosine at the correct 3 -splice site from other guanosine residues, the faster binding of the correct guanosine can enhance specificity of 3 -splice site selection. Thus, paradoxically, the absence of a preformed binding site and the resulting slow guanosine binding can contribute to splicing specificity by providing an opportunity for the adjacent helices to increase the rate of binding of the guanosine specifying the 3 -splice site.I n 1894, Fischer proposed that biological recognition could be likened to the fit between a key and lock (1). More than a century later, this view has been refined to incorporate dynamic aspects of protein structure and function. Indeed, nearly all enzymes appear to undergo some motion in the course of catalysis, often in the form of a loop or domain closure that enhances binding interactions (2). More extensive conformational reordering can occur in allosteric or signaling proteins, and recently extreme examples of proteins that may have unfolded resting states have been identified (3,4). Whereas the modern view of protein structure encompasses these dynamics, a large database of protein structures with and without bound ligand suggests that binding sites are largely preformed in most cases and that closure, if it occurs, provides additional binding interactions (e.g., refs. 5-11).In contrast, structural studies with many RNAs reveal extensive local reordering of the structure on ligand binding. These conformational transitions include changes in hydrogen bonding as well as base stacking to accommodate the bound ligand; e.g., binding of the arginine ligand to Tar RNA induces formation of a base triple and unstacking of residues in an internal loop to allow interaction with the arginine (12-14). The frequent observation of such structural changes on ligand binding to the characterized RNAs (Յ40 nt) has led to the notion that small RNAs have great difficulty in preforming ligand-binding sites (refs. 15-18 and refs. therein).Several observations sug...