Conclusive evidence is presented that an acid phosphatase catalyzes phosphate (oxygen)-water exchange. Studies conducted with human prostatic acid phosphatase by two independent methods have established that, despite earlier reports to the contrary, the enzyme catalyzes an exchange reaction between oxygen atoms of phosphate ion and of water. Kinetic data were obtained both by chemical conversion to trimethyl phosphate followed by mass spectroscopy and by a totally independent method involving 31P isotope shift nuclear magnetic resonance spectroscopy. Analysis showed that the enzyme catalyzes the exchange in a random, noncoupled process. If any coupled exchange occurs, it must represent less than 10% of the total. By mass spectral analysis, catalytic rate constants kcat = 0.14 sec-1 (4 degrees) and 1.8 sec-1 (37.5 degrees) were obtained. By 31P nuclear magnetic resonance kcat = 1.6 sec-1 (31 degrees) was obtained. The energy of activation for the exchange reaction is approximately 13kcal mol-1. The kcat value for exchange is about 10-fold greater than that observed with Escherichia coli alkaline phosphatase.