The substrate specificity of beef heart phosphodiesterase activity and of the phosphodiesterase activity at the cell surface of the cellular slime mold Dicfyostelium discoideum has been investigated by measuring the apparent K, and maximal velocity (V) of 24 derivatives of adenosine 3',5'-nionophosphate (CAMP). Several analogs have increased K,,, values, but unaltered V values if compared to CAMP; also the contrary (unaltered X, and reduced V) has been observed, indicating that binding of the substrate to the enzyme and ring opening are two separate steps in the hydrolysis of CAMP.cAMP is bound to the beef heart phosphodiesterase by dipole-induced dipole interactions between the adenine moiety and an aromatic amino acid, and possibly by a hydrogen bond between the enzyme and one of the exocyclic oxygen atoms; a cyclic phosphate ring is not required to obtain binding. cAMP is bound to the slime mold enzyme via a hydrogen bond at the 3'-oxygen atom, and probably via a hydrogen bond with one of the exocyclic oxygen atoms. A cyclic phosphate ring is necessary to obtain binding to the enzyme. A specific interaction (polar or hydrophobic) between the base moiety and the enzyme has not been demonstrated. A negative charge on the phosphate moiety is not required for binding of cAMP to either enzyme.The catalytic reaction in both enzymes is restricted to the phosphorus atom and to the exocyclic oxygen atoms. Substitution of the negatively charged oxygen atom by an uncharged dimethylamino group in axial or equatorial position renders the compound non-hydrolyzable. Substitution of an exocyclic oxygen by a sulphur atom reduces the rate of the catalytic reaction about 100-fold if sulphur is placed in axial position and more than 10000-fold if sulphur is placed in equatorial position. A reaction mechanism for the enzymatic hydrolysis of cAMP is proposed.cAMP is a key regulator of metabolism, function and growth of many cell types [l]. In mammalian cells CAMP is the second messenger of many hormones; it achieves its function via binding to an intracellular receptor, which is a protein kinase. In the cellular slime mold Dicfyostelium discoideum cAMP acts as the first messenger [2]; it is excreted by the cells and achieves its function via binding to a cell surface receptor. In D. discoideum cAMP induces chemotaxis and cell aggregation (for reviews see [3,4]).The level of cAMP is controlled by the rate of synthesis catalyzed by adenylate cyclase, the rate of excretion, and the rate of degradation by cyclic nucleotide phosphodiesterase.In mammalian tissue at least three types of phosphodiesterase have been demonstrated : a calmodulin-dependent enzyme, a CAMP-specific enzyme, and a third form characterized by cGMP activation (for reviews see [5,6]). In the cellular slime molds at least two enzymes have been demonstrated: one enzyme is localized on the cell surface and in the extracellular medium [7,8] and hydrolyzes cAMP and cGMP with about equal rates, and one cGMP-specific enzyme is localized intracellularly [9-111. cAMP and c...