Selected lobules of term human placenta were extracorporeally perfused and human immunoglobulin-G complexed to horseradish peroxidase (IgG-HRP) was added to the maternal perfusate. After different durations of perfusion IgG-HRP was visualised by use of diamino-benzidine cytochemistry. Within the first 10 min of perfusion IgG-HRP was found bound to microvilli and coated pits of the syncytiotrophoblast; internalisation into coated vesicles and tubulo-vesicular bodies was also observed. Subsequently, IgG-HRP was found in multivesicular bodies and by 30 min appeared in basal vesicles, the frequency of the latter event increasing with time. No routing of IgG-HRP into Golgi regions or lysosomes could be detected. by 60 min IgG-HRP was found in a few caveolae of fetal endothelium of both terminal and intermediate villi. IgG-HRP was not found in intercellular clefts of the endothelium. The pattern of uptake and routing observed suggests a receptor-mediated transcytosis of IgG-HRP across the syncytiotrophoblast and a transcellular pathway through the endothelium.