We investigate a novel aspect of a problem related to the properties o
f low-mass binaries (LMBs) with millisecond pulsars: the pulsations of
the red dwarf (donor) companion of the neutron star (NS). The illumin
ation of the donor star by the pulsar's high-energy nonthermal radiati
on and relativistic wind may substantially affect its structure. We pr
esent a quantitative analysis of the oscillation spectrum of a red dwa
rf which has evolved in an LMB and has undergone the stage of evaporat
ion. We calculate the p- and g-modes for red dwarfs with masses in the
interval (0.2-0.6) M.. For comparison, similar calculations are prese
nted for zero age main-sequence (ZAMS) stars of the same masses. For l
ess massive donor stars (almost-equal-to 0.2 M.), the oscillation spec
trum becomes qualitatively different from that of their ZAMS counterpa
rts. The difference is due to the fact that a ZAMS star of 0.2 M. is f
ully convective, while the donor star in an LMB is expected to be far
from thermal equilibrium and not fully convective. As a result, in con
trast to a low-mass ZAMS star, a red dwarf of the same mass in an LMB
allows the existence of g-modes. We also consider tidally forced g-mod
es, and perform a linear analysis of these oscillations for different
degrees of nonsynchronism between the orbital and spin rotation of the
red dwarf component. We demonstrate the existence of a series of reso
nances for the low-order g-modes which may occur in LMBs at a late sta
ge of their evolution. We discuss the possibility that these oscillati
ons may trigger Roche lobe overflow and sudden mass loss by the donor
star. Further implications of this effect for and X-ray burst phenomen
a are outlined.