Denote by Lip(c)(X, d)(Lip(b)(X, d)) the family of all real valued function
s on a metric space (X, d) which satisfy a Lipschitz condition on the compa
ct (bounded) subsets of X. We prove that every homomorphism on Lip(c)(X, d)
(Lip(b)(X, d)) is the evaluation at some point of X if and only if X is re
alcompact (every closed bounded subset of X is compact).