Phosphatidylinositol transfer protein (PITP) has been identified as a key player in numerous signalling pathways relying on phosphatidylinositol (PI) metabolites. Although its cellular function is most likely linked to its PI/phosphatidylcholine (PC) transfer activity-an in vitro activity shared by all known PITPs-this feature cannot explain all findings from studies with PITP. Here, we review evidence suggesting that one of the main functions of PITP in cellular signalling is to present PI to lipid kinases for localized production of phosphatidylinositol (4,5)-bisphosphate (PIP(2)), either to be used as a signalling molecule (for example, in exocytosis) or as a substrate (for example, by phospholipases).