Previous studies of foliar cold tolerance in red spruce ( Picea rubens Sarg.) have been conducted on isolated shoots or needles. These studies therefore could not show either the type or amount of visible injury to attached foliage in a natural environment after controlled freezing stress, or the physiological response, if any, of visibly undamaged foliage. It was hypothesized that even when visible injury did not develop, foliage on frozen, attached branches would show long-term alterations in electrolyte leakage, water balance, and gas exchange capacity as a result of severe freezing stress. In mid-December 1990, intact, attached branches of red spruce saplings which had been exposed to controlled ozone levels (1 × or 2 × ambient) and precipitation acidity (pH 3.1 or 5.1) were frozen to −48 or −54°C. Neither ozone nor precipitation acidity affected any measure of freezing injury at P ⩽ 0.1. During the 3 months following freezing, current-year shoots developed either a brown needle discoloration, needle abscission without visible discoloration, or no obvious needle discoloration or abscission. This is the first experiment to show that severe freezing stress can lead to abscission of visibly undamaged needles from an attached branch. All frozen current-year needles had elevated relative electrolyte loss ( REL) with 24 hr after freezing, but REL subsequently declined for needles without visible discoloration. One day after freezing, average relative water content ( RWC) of needles on frozen and unfrozen shoots was about 85%, and RWC remained above 80% throughout the winter for unfrozen shoots. By mid-January, needle RWC on visibly injured shoots averaged about 50%. RWC of experimentally frozen needles without visible injury feel more slowly to between 65 and 76% by late February. Across all shoot types, REL just after freezing was negatively correlated with needle RWC 1 month later, and also with maximum dark respiration ( R), conductance to water vapor ( g), and light-saturated net photosynthesis ( A) measured on detached shoots at 12–20°C in late January to February. In unfrozen shoots, net photosynthesis reached a maximum of about 5 μmol m −2 s −1. Shoots with visible needle injury and shoots from branches which later showed needle abs cission had very large reductions in mean maximum gas exchange (> 50% for R, > 60% for g, and > 90% for A) compared to unfrozen shoots. On frozen branches which retained needles, non-visibly injured shoots had declining dark respiration rates and reductions of about 40% in maximum conductance and net photosynthesis, suggesting physiological damage from the freezing stress despite a lack of visible needle injury. Net photosynthesis and conductance remained lower in non-visibly injured frozen shoots compared to unfrozen shoots in late March and early April, more than 3 months after freezing. Initial net photosynthesis of frozen shoots placed in the growth chamber in late January was strongly correlated with maximum net photosynthesis. Initial net photosynthesis divided by initial conductance ( A i/ g i) was even more strongly correlated with maximum net photosynthesis ( r =0.95. A i/ g i was also negatively correlated with visible needle injury estimated in late March. A i/ g i measured on detached shoots, under favorable conditions for photosynthesis, may therefore be an early indicator of either latent visible needle injury or reduced photosynthetic capacity for freeze-damaged trees.