To study the transport of protein from the blood into and throughout the sparsely vascularized pars intermedia of anurans, the electrondense tracer, horseradish peroxidase (HRP) was injected into the vascular system of adult frogs. A strong reaction product was localized in small vesicles in the cytoplasm of that portion of the stellate cells immediately beneath the vascular spaces. Also, within two minutes after an injection of HRP, which was given during a period of one minute, the reaction product was seen in the extracellular spaces between the stellate and/or MSH secretory cells throughout the gland. Additionally, it appeared that HRP was pinocytosed by the stellate cell processes in the interior of the pars intermedia. Since frogs adapted to different backgrounds were perfused with HRP for a variety of time periods, from 3 to 90 min, it was thought that it would be possible to trace the pathway of the HRP-filled vesicles as they moved through the stellate cells. There did not appear to be a migration of these vesicles within the cells. Because of the electron density of the HRP, the tortuous extensions from the perivascular spaces of the capillary plexus intermedius were obvious as they ramified into the pars intermedia and pars nervosa. In the frogs not injected with HRP, it was possible to observe the substructure of these ramifications which paralleled the stellate cells and formed enlargements at the convergence of the stellate cell processes and sometimes the nerve processes. An extravascular, many-branched transport system that penetrates the parenchyma is discussed in addition to the possible transfer role of the stellate cells.