Horizontal treadmill exercise induced a marked (P less than 0.001) but transitory increase in the level of circulating corticosterone in the plasma of adult male ducks. The decline in corticosterone concentration during exercise is unlikely to be due to a depletion of adrenocortical stores since a marked (P less than 0.001) corticosterone response to adrenocorticotrophin (ACTH) administration was observed immediately after exercise, and was of similar magnitude to that induced in nonexercised controls. The corticosterone response to repeated exercise is also transitory, habituating completely within 28 days of the start of daily training. The corticosterone response (P less than 0.001) to ACTH challenge is not, however, diminished by training. These results indicate that the habituation of the corticosterone response to either acute or repeated exercise is due to a reduction in endogenous ACTH secretion. A similar mechanism appears to be responsible for the habituation of the corticosterone response to handling and confinement in nonexercised control birds. A marked (P less than 0.001) increase in the level of circulating corticosterone was, however, elicited when these birds were exercised, indicating that despite adaptation to handling and confinement the birds remained responsive to the novel stressor of exercise. The corticosterone response of these birds was, however, less than that in untrained birds indicating that the corticosterone response in untrained birds is due to both workload and the stress of handling and confinement.