Twenty-one healthy women were studied during one menstrual cycle in order to determine whether cortisol and growth hormone responsivity to psychological stress was related to estrogen levels. Blood was drawn approximately three times per week for analysis of estradiol, progesterone, cortisol, and human growth hormone. During either the menstrual or intermenstrual phase, each subject participated in an interview that was designed to be mildly stressful. State and trait anxiety were assessed using the Spielberger State-Trait Anxiety Inventory. Anxiety state was measured prior to and immediately following exposure to the psychological stress; trait anxiety was assessed at the end of the study. Cortisol and growth hormone responses to the psychological stress were not related to menstrual cycle phase. Anxiety levels were also independent of menstrual cycle phase. Subjects who displayed significant cortisol and/or growth hormone responsivity to the interview had significantly higher anxiety levels post stress than did nonresponders, although anxiety level prior to the interview was not different for the two groups.