RNase S is a complex consisting of two proteolytic fragments of RNase A: the S peptide (residues 1-20) and S protein (residues 21-124). RNase S and RNase A have very similar X-ray structures and enzymatic activities. Previous experiments have shown increased rates of hydrogen exchange and greater sensitivity to tryptic cleavage for RNase S relative to RNase A. It has therefore been asserted that the RNase S complex is considerably more dynamically flexible than RNase A. In the present study we examine the differences in the dynamics of RNase S and RNase A computationally, by MD simulations, and experimentally, using trypsin cleavage as a probe of dynamics. The fluctuations around the average solution structure during the simulation were analyzed by measuring the RMS deviation in coordinates. No significant differences between RNase S and RNase A dynamics were observed in the simulations. We were able to account for the apparent discrepancy between simulation and experiment by a simple model. According to this model, the experimentally observed differences in dynamics can be quantitatively explained by the small amounts of free S peptide and S protein that are present in equilibrium with the RNase S complex. Thus, folded RNase A and the RNase S complex have identical dynamic behavior, despite the presence of a break in polypeptide chain between residues 20 and 2 I in the latter molecule. This is in contrast to what has been widely believed for over 30 years about this important fragment complementation system. Keywords: dynamics; MD simulation; ribonuclease A: ribonuclease S; tryptic cleavage Fragment complementation systems are two or more fragments of a protein that can be reconstituted to form a complex with similar structure and activity to that of the native, uncleaved protein. Fragment complementation systems are a powerful tool in the study of protein folding and stability (Taniuchi et al., 1986). RNase S is one of the most well studied fragment complementation systems. It consists of S peptide (residues 1-20) and S protein (residues 21-124), two proteolytic fragments of the 124 amino acid protein RNase A. These fragments are obtained by cleavage of the peptide bond between Ala 20 and Ser 21 of RNase A by subtilisin. The two fragments can be reconstituted to give a noncovalently bound, active S peptide:S protein complex, RNase S (Richards & Vith-