Photosynthetic mechanisms have been compared in leaves and, separately, in stems of Egeria densa Planch. In order to correlate the structural and functional characteristics of the two organs (1) the ultrastructural features of leaves and stems have been studied and (2) their photosynthetic activity has been evaluated by measuring in vivo both oxygen evolution and the kinetics of chlorophyll fluorescence. The results confirm the aquatic behaviour of the leaf which is able to utilize inorganic C supplied both as CO2 and HCO 3 (-) . In this respect, the different wall organization found in the two cell layers of the leaf is particularly interesting, since it could be related to the known polar mechanism of inorganic-C uptake. The stem, by contrast, behaves rather as an aerial organ, needing very high CO2 concentrations in the aquatic environment in order to carry out photosynthesis. In the stem, the aerenchyma plays a role in supplying the green cells with gaseous respiratory CO2, thus facilitating the photosynthetic activity of the submerged stems.