Ninety-five women and 95 men undergraduates rated each of their closest friends, and rated themselves with each of those friends on a Relationship Grid evaluating both `structural' dimensions (i.e., age, sex, duration of friendship and frequency of contact) and `affective' dimensions (i.e. self-disclosure, appreciation, assistance, empathic understanding, deepening others' self-awareness, shared activity, authenticity, trust, control, responsibility, connectedness, empowerment of others and satisfaction). Results indicated similarity in the rankings of the importance of those dimensions in the friendships of men and women, and that same-sex friendships were more common and of longer duration than cross-sex friendships. Two broad patterns of differences emerged on the `affective' dimensions: (1) relationships with men friends were less reciprocal than relationships with women friends; and (2) men's same-sex relationships were characterized by less giving and receiving. This study suggests similarities and differences in the nature, meaning and perceived function of friendship for women and men, and illustrates the importance of studying people's conceptions of themselves and their friendships in the context of their specific real-life relationships.