1. The metabolism of phenol in goldfish (Carassius auratus), rainbow trout (Salmo gairdneri) and goldenorfe ide (Leuciscus ideus melanotus) was compared. All three species produced phenyl sulphate, quinol sulphate and phenyl glucuronide. 2. The dose dependence of metabolism of phenol in goldfish was investigated. When the concn. of phenol was increased from 0.2 to 2 mg/l medium, that glucuronylated increased from 7 to 16% and that sulphated decreased from 63 to 47%. 3. The influence of mode of exposure on metabolism of phenol in goldfish was examined. Dietary exposure and uptake from medium was compared with i.p. injection. There was less metabolism in the order: dietary exposure greater than uptake from medium greater than injection.