On treatment with H,SO,/MeOH, epimerization of hexamethyl cis-5,6-dihydroxycobyrinate c,8-lactam (3) takes place quantitatively at C(6), yielding the corresponding trans-diol 4. The corresponding lactone 7, whose structure has been established by X-ray analysis, is obtained from xanthocorrinoids 5 and 6 under similar conditions. Some years ago, Bonnett [2] suggested that coordination of H,O, to the Co-ion of cobyrinic-acid derivatives may be the first step of their transformation into xanthocorrinoids with the Udenfriend reagent (ascorbic acid and 0, in MeOH at pH 7.2) [3]. This mechanism is not only consistent with the observed stereoselectivity of the reaction, which takes place on the more accessible p-face of the Co-complex, but also with the experimental evidence accumulated in our laboratory during the investigation of the influence of the substituent present at C(7) on the structure of the reaction product [4]. Particularly revealing proved to be the reactions of hexamethyl dicyanocob(II1)yrinate c&lactone (la) and hexamethyl dicyanocob(1II)yrinate c,8-lactam (lb) with 0, in the presence of ascorbic acid. Actually, whereas a cis-5,6-diol3 could be isolated as a reaction product of the latter, l a yielded a spirolactone 2 instead of the diol corresponding to 3. These results were interpreted as a consequence of the fact, that lactams are, in general, less prone to nucleophilic cleavage than lactones [4]. Moreover, the low yield of 3 (ca. 8%) may be explained by the loss of a considerable part of the product in the polar fractions of the reaction mixture, provided that during the reaction hydrolysis of the ester