The electrostatic interaction between the cationic chloropentaamminecobalt(III) complex and the exterior anionic surface of sodium dihexadecylphosphate (DHP) vesicles in the absence and the presence of varying amounts of the polymer PPG-425 [poly(propylene glycol) with has been studied at 25.0 ¡C by M w\ 425] examining the vesicular retarding e †ects on the kinetics of the alkaline hydrolysis of the cobalt(III) complex. The kinetic data indicate that two reaction paths contribute to the overall hydrolysis rate. In the absence of polymer the interactions involving the cobalt complex, as deduced from the estimated binding constant (K A), are markedly larger than those found previously with anionic micelles of sodium dodecyl sulfate (SDS). Moreover, the rate constant for the pathway involving the hydroxide ion in the outer aqueous vesicular (k v A) compartment and the complex solubilized in the exterior vesicle surface is smaller than the corresponding rate constant obtained with SDS micelles. These results suggest the existence of greater charge density at the DHP vesicular surface. In the presence of polymer both and parameters remain substantially unchanged up to K A k v A the polymer content of 0.30%, but the binding constant undergoes a decrease and the rate constant an k v A increase at higher polymer concentration. These Ðndings are primarily attributed to the decrease in the charge density of the external vesicular surface induced by the polymer penetration.