Harnessing the ultra high resolution capabilities of Fourier transform ion cyclotron resonance mass spectrometry (FTICR‐MS) and positive ion electrospray, we have demonstrated the significance and utility of cumulative mass defect high resolution mass separation stable isotope distribution, exact mass measurement and elemental formula as a means of simultaneously identifying 19 components of the dodecapeptide library Ac‐ANKISYQS[X]STE‐NH2. With an instrument resolution of 275 000 (average), isobaric multiplets attributed to monoisotopic and carbon‐13 components of peptides: Ac ∼ SLS ∼ NH2; Ac ∼ SNS ∼ NH2; Ac ∼ SOS ∼ NH2; Ac ∼ SDS ∼ NH2; within the mass window of 1380–1385 Da, and Ac ∼ SQS ∼ NH2; Ac ∼ SKS ∼ NH2; Ac ∼ SES ∼ NH2; Ac ∼ SMS ∼ NH2, within the mass window 1395–1400 Da, were mass resolved, accurately mass measured and identified from the computed molecular formulas. This experimental procedure enabled the separation of monoisotopic and carbon‐13 isobars yielding enhanced selectivity and specificity and serves to illustrate the significance of monoisotopic and carbon‐13 isobars in final product analysis. Chromatographic separation (HPLC) was of limited utility except for monitoring the overall extent of reaction and apparent product distribution. Positive ion electrospray‐FTICR‐MS and fast atom bombardment (FAB) MS were used to assess final product quality and apparent component distribution. Copyright © 2000 John Wiley & Sons, Ltd.