We study the reactions K --> <pi pi nu(nu)over bar> within the minimal
standard model. We use isospin symmetry to relate the matrix elements
to the form factors measured in K-l4. We argue that these modes are s
hort distance dominated and can be used for precise determinations of
the CKM parameters rho and eta. Depending on the value of the CKM angl
es we find branching ratios in the following ranges: B(K-L --> pi(+)pi
(+)<nu(nu)over bar>) = [2-5] x 10(-13) B(K-L --> pi(0) pi(0)<nu(nu)ove
r bar>) = [1-3] x 10(-13); B(K+ --> pi(+)pi(0)<nu(nu)over bar>) = [1-2
] x 10(-14). We also discuss a possible CP-odd observable.