Exocytosis has been demonstrated by electron microscopy in the external zone of the median eminence of the rat. Exocytotic profiles have been observed in nerve fibres characterized by the presence of granular vesicles with median diameters of 90–103 nm and agranular vesicles of about 50 nm. In addition to the small agranular vesicles, coated vesicles of the same size have been found in many nerve fibres, suggesting that at least part of the agranular vesicles in the median eminence originate by micro-pinocytosis. The nature of the fibres showing exocytosis is discussed. Attention is drawn to the possibility of identifying types of fibres in the median eminence by the occurrence of exocytosis.