1. The fluid sacs and bladders of ten foetuses and the allantoic sacs of five foetuses were catheterized between 79 and 96 days gestational age and daily samples were withdrawn until lambs were born naturally at approximately 147 days. Maternal jugular plasma obtained daily allowed the nutritional status of each ewe to be regulated and monitored. All lambs were observed for 7 weeks, and at post-mortem no abnormalities were seen in those operated upon in utero.2. The osmolality, [Na(+)], [K(+)], [Cl(-)], [glucose], [fructose], [urea], [amino acid] and pH of all samples were measured.3. Foetal surgery seemed to affect the actual concentrations of some solutes, but gestational trends in foetal fluid composition were unaltered.4. Until about 7 days before birth the foetal urine osmolality, [Na(+)], [Cl(-)] and [fructose] decreased, its [urea], [amino acid] and pH remained relatively constant, and from about 120 days gestational age the [K(+)] increased. During the last 7 days there was a marked increase in the osmolality and the concentrations of all these solutes, and a decrease in pH.5. Entry of foetal urine into the fluid sacs tended to decrease the osmolality, [Na(+)], [K(+)], [Cl(-)] and [glucose] of both foetal fluids and the [amino acid] of allantoic fluid, and tended to increase the [fructose] and [urea] of both fluids and the [amino acid] of amniotic fluid.6. Changes in urine composition suggested large daily variations in the secretion of foetal antidiuretic hormone and also a rapid increase in its secretion during the last 7 days, and particularly the last 2-4 days before birth.7. Changes in the [Na(+)]/[K(+)] ratios of foetal urine and allantoic fluid were parallel during post-operative recovery, during the course of pregnancy and immediately before birth, and this was consistent with a simultaneous action of foetal plasma corticosteroids on the foetal kidneys and chorioallantois.8. Variations in the [fructose] of foetal urine and allantoic fluid were parallel to changes in their [Na(+)]/[K(+)] ratios and suggested an involvement of foetal corticosteroids in the regulation of the [fructose] of foetal plasma.9. Further evidence has been presented supporting the hypothesis that maternal induced foetal hypoglycaemia effects a relative increase in the secretion of foetal corticosteroids having an action on the chorioallantois. Also, high concentrations of maternal plasma corticosteroids may decrease the permeability of the placenta to glucose.