The amyloid beta -peptide (A beta) is a principal component of the cerebral plaques found in the brains of patients with Alzeheimer's disease (AD). This insoluble 40- to 42-amino acid peptide is formed by the cleavage of the A beta precursor protein (APP). The three proteases that cleave APP, alpha-, beta-, and gamma -secretases, have been implicated in the etiology of AD. beta -Secretase is a membrane-anchored protein with clear homology to soluble aspartyl proteases, and alpha -secretase displays characteristics of certain membrane-tethered metalloproteases. gamma -Secretase is apparently an oligomeric complex that includes the presenilins, which may be the catalytic component of this protease. Identification of the alpha-, beta-, and gamma -secretases provides potential targets for designing new drugs to treat AD.