Since the inositol phospholipids are present in small amounts in platelets and turn over rapidly during platelet shape change, aggregation and release, they are thought to have a functional rather than structural role in platelets. We have previously reported that within 10 sec of stimulation of prelabeled, washed rabbit platelets with ADP, the amount of triphosphatidylinositol (TPI) is significantly reduced while the specific radioactivity of its [32p]phosphate is increased. One explanation of this result is that ADP- stimulation may divert ATP required for phosphorylation of diphosphatidylinositol (DPI) to TPI, leading to a decrease in the amount of TPI. PGE1 (10 μM) causes conversion of ATP to cAMP and induces a transient platelet shape change. The shape change may be due to the reduction in ATP with a concomitant fall in TPI. We have therefore studied whether PGE1-stimulation of washed rabbit platelets prelabeled with [32P] causes a change in TPI. Within 10 sec the amount of TPI in PGE1-treated platelets was reduced from 2.22 nmoles/ 109 platelets to 1.98 nmoles/109 platelets (p<0.05) although neither the [32P] labeling (51.1 × 103 dpm/109 platelets) nor specific radioactivity (24.1 × 103 dpm/nmole) were significantly changed. These results are compatible with the theory that diversion of ATP by PGE1-stimulation of cAMP formation from ATP, may reduce the amount of TPI. A similar effect was observed previously with ADP-stimulation. PGE1 caused no change in the [32p] labeling of phosphatidic acid (PA) (ADP caused a 290% increase) and caused only a small increase in its specific radioactivity (16% compared to 270% with ADP). If the rates of turnover of TPI and PA which are reflected in their specific radioactivities are Ca2+- dependent, Ca2+ sequestration due to increased cAMP levels induced by PGE1 would, after the initial effects, terminate these changes. The results further support the suggestion that reduction in the amount of TPI may be involved in platelet shape change and initiation of aggregation.