The empirical pseudopotential method is used to study the electronic properties of two-dimensional isovalent substitutions in A(III)-B(V) semiconductors in a periodic modelling approach. Namely, for InAs/GaAs, InP/GaP, and GaN/GaAs substitution layer/host material systems the bandgap reduction and localization properties of electron and hole states are investigated. As a result we can also decide whether excitons can be effectively bound to the two-dimensional isovalent substitution layer.