With rare exceptions, mRNAs whose synthesis originates within nuclei contain a 3Ј poly(A) tail. Poly(A) tracts are not encoded within genes but are added to nascent pre-mRNAs in a processing reaction that involves site-specific cleavage and subsequent polyadenylation (11,16,40,42). In Saccharomyces cerevisiae, newly synthesized poly(A) tails of different transcripts are relatively homogeneous, with their final lengths determined by the combined actions of poly(A) polymerase holoenzyme (Pap1p and Fip1p), poly(A)-binding protein (Pab1p), poly(A) nuclease (PAN), and the Pab1p-associated factor, Pbp1p (10,24,43).Poly(A) tracts are generally bound by Pab1p, a highly conserved protein with four RNA recognition motifs (RRMs) connected to a carboxy-terminal helical domain via a prolineand methionine-rich segment (25,31). Association of Pab1p with poly(A) requires a minimal binding site of 12 adenosines, and multiple molecules can bind via RRMs 1 and 2 to the same poly(A) tract, spaced approximately 25 nucleotides apart (1, 2, 31, 33). In yeast, the relatively abundant 70-kDa poly(A)-binding protein is encoded by the PAB1 gene. Mutations in PAB1 cause a significant increase in the average steady-state poly(A) tail length of total cellular mRNA (32), and these effects have been attributed to two apparently nuclear functions of Pab1p: the regulation of a switch between processive and distributive activities in poly(A) polymerase (43) and the stimulation of PAN activity (7, 9, 21).Yeast poly(A) tails are initially synthesized to default lengths of 70 to 90 A's and then trimmed to mRNA-specific lengths by PAN. Analyses of three different mRNAs indicate that such trimmed tails have lengths ranging from 55 to 71 A's (8). PAN, a Pab1p-dependent 3Ј to 5Ј poly(A) exoribonuclease, requires magnesium, releases AMP as a product, and is regulated by cis-acting mRNA sequences (21). Purified PAN contains two proteins which are essential for nuclease activity: Pan2p is a 127-kDa protein with homology to the RNase T family of 3Ј35Ј exoribonucleases, while Pan3p is a 76-kDa protein which apparently acts as a positive activator of PAN activity (8). Deletion of PAN2 and/or PAN3 eliminates poly(A) nuclease activity but does not hinder cell growth. Physical interaction between Pan2p and Pan3p has been inferred from coimmunoprecipitation and two-hybrid analyses of the full-length proteins (9).Pbp1p (Pab1p-binding protein 1) specifically interacts with a 74-amino-acid segment encompassing the proline-and methionine-rich domain of the Pab1p C terminus. PBP1 is not essential for viability, but its disruption can suppress the lethality associated with a PAB1 deletion (23). In the absence of Pbp1p, 3Ј termini of pre-mRNAs are properly cleaved but receive poly(A) tails that are, on average, 15 to 30 nucleotides shorter than normal (23,25). In vitro polyadenylation reactions using extracts from wild-type and pbp1⌬ strains demonstrated that the mutant extracts initially produced full-length tails equivalent to their wild-type counterparts but subseque...