For every fixed-point expression e of alternation-depth r, we construct a n
ew fixed-point expression e' of alternation-depth 2 and size O(r . \e\). Ex
pression e' is equivalent to e whenever operators are distributive and the
underlying complete lattice has a co-continuous least upper bound. We show
that our transformation is optimal not only w.r.t. alternation-depth but al
so w.r.t. the increase in size of the resulting expression. AMS Subject Cla
ssification. 68Q60, 03D70, 06D99, 68Q25.