Electron microscope observations of glutaraldehyde-osmium tetroxide fixed oocytes of the tunicate Ciona intestinalis indicate that nuclear-cytoplasmic exchanges are prominent in young oocytes. Dense granular accumulations are noted at various regions on both sides of the nuclear envelope, and under favorable conditions they can be demonstrated to be continuous through the nuclear pores. The basophilic staining reaction of this product and the structural similarity to nucleolar components suggest that the exchange is from the nucleus to the ooplasm. The product transferred (which is Feulgen negative) appears to accumulate in the ooplasm adjacent to the nuclear envelope. The morphological variations observed suggest a subsequent transformation of this material into particulate ribosomes. Mitochondria often show a close association with the extruded ooplasmic masses.