All hormones act only on their target tissues. The ability of a tissue to react to a hormone is due to the presence of a receptor in or at the cell. There are two classes of hormone receptors: those bound to the membrane and those present in the cytosol. Peptide hormones generally act through membrane receptors. The interaction of a hormone with its receptors leads to an activation of the adenylate cyclase and the production of cyclo-AMP, the second messenger. In cases where several hormones act on the same tissue (example: adipose tissue) they must interact with their specific receptors, but presumably with the same adenylate cyclase. This interaction is discussed. The receptors for steroid hormones are not membrane-bound, but present in the cytosol. They are specific proteins which bind the hormone rather tightly. This results in a change in protein conformation, sometimes accompanied by a dimerization; the modified receptor is then transferred to the cell nucleus where it stimulates transcription. The control mechanisms of transcription are discussed; the most probable mode of action is removal of a repressor or repressor-like component from chromatin which results in deinhibition of transcription. mRNA is then produced and translated into protein. Post-transcriptional controls have been postulated, but never unequivocally demonstrated.