To determine the extent to which diffusion may limit the exchange of gases stored in the tissues, nine dogs were allowed to breathe an O2-N2-Ar mixture until saturation was achieved; the inspired gas was then changed to one containing neither N2 nor Ar, and the level of these two species in the arterial and in the mixed venous blood was monitored during the washout. A theoretical analysis shows that in a situation where peripheral gas transport is limited entirely by perfusion, the washout curves should be identical, provided concentrations are expressed as a fraction of the initial value. When the process is restricted by diffusion through the tissues, Ar is expected to lag because of its higher molecular weight. In all animals, the rate of elimination of the two tracers was the same, indicating that the time course of storage or release of inert gas from body stores is governed (mainly or entirely) by perfusion.