An analysis of the effects of meson exchange and isobar currents in exclusi
ve (e,e'p) processes from O-16 under quasifree kinematics is presented. A m
odel that has probed its feasibility for inclusive quasielastic (e,e') proc
esses is considered. Sensitivity to final state interactions between the ou
tgoing proton and the residual nucleus is discussed by comparing the result
s obtained with phenomenological optical potentials and a continuum nuclear
shell-model calculation. The contribution of the meson exchange and isobar
currents to the response functions is evaluated and compared to previous c
alculations, which differ notably from our results. These two-body contribu
tions cannot solve the puzzle of the simultaneous description of the differ
ent responses experimentally separated. [S0556-2813(99)01207-8].