1. Synchronous Chlorella fusca was exposed to light for periods of 0.1 sec-15 min. Subsequent to the illumination, the rate of O 2 exchange passes through a series of transient phenomena. These transients vary greatly with cellular age and depend also upon conditions prior to and during the experiment. However, the individual maxima and minima of O 2 exchange specified as T 1, T 2, T 3..., occur at reproducible times provided that algae of the same developmental stage and pretreatment are used. 2. At least 5 individual components are involved in the complex changes: (a) A sudden photosynthetic O 2 evolution ( T 1) which, after darkening, declines rapidly and without oscillations. (b) A brief and distinct O 2 uptake ( T 2) immediately after switching off the light, which is only observed under special conditions. (c) The next maxima and minima T 3, T 4, T 5, and partly also T 6 obviously are damped oscillations of the respiratory O 2 uptake, started by an inhibition of some respiratory step by photosynthesis. (d) A slow declining stimulation of O 2 uptake superimposed on the foregoing transients occurs after longer light exposures. (e) A very strong stimulation of respiratory O 2 consumption ( T 8), culminating not until 6 to 8 min after the start of illumination, is induced only by irradiation with short-wave light (< 540 nm) after longer dark periods. 3. The individual components differ with respect to their dependence on intensity, wavelength and duration of the light exposure and their sensitivity to several inhibitors. According to their characteristics all transients except T 8 depend on, but in different ways, the function of the photosynthetic apparatus. The components b and c seem to be closely connected with System I.