In guinea-pig oocytes, at every developmental stage, acid phosphatase is found histochemically in cytoplasmic granules. Ultracytochemically the reaction product is located in lysosomes and is some cisternae of the rough endoplasmic reticulum, but not in cortical granules or in vesicles with a rough endoplasmic reticulum membrane which are filled with a moderately dense homogeneous substance. It is discussed whether the acid phosphatase transforms reserve material into a storable form as has been proposed for the deposition of vitellogenin in the oocytes of lower vertebrates.