Uranium and lead concentrations and the isotopic compositions of lead were determined on samples of total rock, matrix, white inclusion, pink inclusion, white aggregate and four chondrules from the Allende carbonaceous chondrite. Observed 206Pb/ 204Pb ratios varied from 10.004 to 107.29; 207Pb/ 204Pb ratios from 10.695 to 69.07; 206Pb/ 204Pb ratios from 30.062 to 207.96. In a 207Pb/ 204Pb- 206Pb/ 204Pb diagram a regression line fitted to all of data has a slope of 0.6240 ± 0.0015, corresponding to a single stage model age of 4.565 ± 0.004 AE. The regression line also includes the ratios for primordial lead as determined in previous investigations from Canyon Diablo troilite and the Mezö-Madaras chondrite. Although the lead in the matrix is not very radiogenic, the 207Pb/ 206Pb ages of four samples average 4.505 AE, a value 0.06 AE younger than that of the chondrules and inclusions. The matrix age agrees closely with a total rock Pb/Pb model age previously reported for Allende by Tatsumoto, Knight and Allegre. The matrix Pb/Pb model age is also 0.06 AE younger than the Pb/Pb isochron ages determined by previous investigators on total samples of H and L chondrites. The H and L chondrite and Allende chondrule and inclusion Pb/Pb ages are indistinguishable. The lead isotope systematics require either that the matrix is ca. 0.06 younger than the silicate inclusions and chondrules (or that radiogenic lead was inherited from a younger external source) or that the initial lead in the matrix differed from primordial lead. The lead data cannot be reconciled to a model in which the bulk material of Allende first crystallized 4.57 AE ago, followed by transfer of radiogenic lead between phases since that time. In a concordia diagram four chondrules and three inclusions plot along a chord intersecting concordia at 4.57 and 0.28 ± 0.07 AE. This indicates disturbance of the U-Pb systems relatively recently, perhaps around 0.3 AE ago. The time of disturbance is not readily understood and needs further confirmation. It correlates most closely with a possible cut-off in K-Ar and U, Th-He ages of chondrites. Although the Th/U ratios of the bulk samples and matrix are around the normal value of 3.8, much higher values are observed in some of the inclusions, the highest being 9.0.