Rat intestinal alkaline phosphatase exists in two separate forms, diff
ering markedly in the carboxyterminal coding region, as well as in the
3' untranslated regions. It is secreted bound to a phospholipid-rich
particle (surfactant-like particle) which appears to have unique prope
rties, but whose role is still uncertain. Evidence is presented to sug
gest that intestinal alkaline phosphatase secretion is mediated by thi
s particle. The challenge for the future is to study the biology of th
e surfactant-like particle, to ascertain its role in gut physiology, a
nd to determine how the dual alkaline phosphatases are involved in thi
s specialized secretory apparatus.