The pathogenesis of Alzheimer's disease (AD) 1 is defined by the accumulation of intracellular neurofibrillary tangles and extracellular deposits of amyloid plaques in the brain parenchyma and cerebral blood vessels (5). Although AD occurs sporadically, inherited factors play an important role in at least half of the cases. Genetic studies of familial Alzheimer's disease (FAD) have led to the identification of three early onset FAD genes, which produce the amyloid precursor protein (APP), and the presenilin 1 (PS1) and presenilin 2 (PS2) proteins (6, 7).To date, more than 60 mutations in PS1 and at least 2 mutations in PS2 have been genetically linked to early onset FAD (8 -10). These mutations result in the altered processing of APP and lead to increases in the amyloid -peptide (A), which is derived from APP and is the main component of amyloid plaques (11)(12)(13)(14). The presenilins are multitransmembrane domain proteins whose primary subcellular location appears to be the membranes of the ER and Golgi. Proteolytic processing of both proteins, which results in a 35-kDa N-terminal fragment for both proteins, a 20-kDa CTF for PS1, and a 25-kDa CTF for PS2, has been reported for the presenilins in mouse and human brain as well as cultured cells (15)(16)(17). In vivo, the majority of detectable presenilin appears in the form of the N-and C-terminal fragments that are tightly regulated at steady-state levels and form a stable complex after endoproteolytic processing (18). The presenilins have also been shown to be substrates for cleavage by caspase-3-like proteases (3,19,20) at a site distal to the regulated cleavage site. This cleavage results in the production of a smaller CTF. Notably, the presence of FAD mutations in the presenilins is associated with increased levels of these caspase-derived fragments, which are normally present at low levels and can only be detected after presenilin transfection. Recently, Walter et al. (4) reported that the phosphorylation of PS2 at a site within the C-terminal domain inhibits cleavage by caspase-3. This finding demonstrates that the phosphorylation state of PS2 controls its cleavage by caspase and suggests that cleavage of PS2 is a regulated biological event that occurs physiologically in the absence of FAD mutations.The normal function of the presenilins is not clear; however, roles in membrane trafficking (21), APP processing (22), Notch signaling (23-25), neuronal plasticity (26), cell adhesion (27),