An ether phosphonate surfactant with a highly branched hydrophobic tail, suitable for the preparation of alcohol-free Winsor III systems, has been synthesized. The three phase system isooctane-middle phase microemulsion-aqueous glycine buffer of pH 8.7 was used as reaction medium for lipase catalyzed hydrolysis of trimyristin to 2-myristoylglycerol and sodium myristate. The enzyme was found to reside almost exclusively in the microemulsion phase together with the phosphonate surfactant. The products formed, monoglyceride and fatty acid soap, preferentially partitioned into the excess hydrocarbon and water phases, respectively. Compared with reaction in a one phase reverse micellar system, the work-up procedure is considerably facilitated. The rate of reaction is lower, however. © 1991.