A glycoprotein resembling the major zymogen granules membrane-associated glycoprotein (GP-2) from the exocrine rat pancreas was detected in a 200 000 g sedimentable subfraction from pancreatic secretion. This glycoprotein had a slightly smaller molecular weight than GP-2 (70 000 D versus 75 000 D), gave a line of identity with GP-2 in a double immunodiffusion test against anti GP-2, and tryptic peptide charts of both glycoproteins were largely similar. Immunofluorescence cytochemistry showed that GP-2 antigens were exclusively located in the exocrine pancreas, where they were preferentially found in the perimeter of secretory granules and in the acinar lumina. These results suggest the possibility of loss of GP-2 from exocrine cells during secretion and raise doubts as to the status of GP-2 as a true membrane glycoprotein.