Inositol phospholipids are a focus of renewed interest with the discov
ery of their unanticipated pivotal roles in membrane trafficking event
s, Reversible phosphorylation of phosphatidylinositol generates spatia
lly localized signals on membranes that recruit or activate proteins e
ssential for cell membrane budding, fission and fusion. Recent advance
s have taken place in the characterization of lipid kinases and phosph
oinositide-regulated effector proteins, and in the elucidation of phos
pholipase D mediated mechanisms involving ADP ribosylation factor and
Rho family proteins, The roles played by phosphoinositides in aspects
of secretory granule formation, fusion and endocytosis indicate the im
portance of phosphorylated lipids for neurotransmitter release.