Objectives: To examine the acute effects of estradiol-17 beta (E-2) and progesterone (P) on serum levels of insulin, lipids and lipoproteins in estrogen-deficient postmenopausal women, whereby, a direct cause-effect relationship could be established without the influence of lifestyle changes. Materials and Methods: Nine postmenopausal women were given oral E-2 (Estrace(TM)) 2 mg/day for 28 days and oral micronized P (Prometrium(TM)) 200 mg/day in the last 14 days or E-2 treatment. Fasting blood samples were obtained before starting E-2 (day 1) and P (day 15) and on day 29. Serum levels of insulin, triglycerides (TG), total cholesterol (TC), low density lipoprotein (LDL), high density lipoprotein (HDL) and lipoprotein (a) (Lp(a)) at the three time points were compared by Friedman analysis of variance (ANOVA). Corresponding levels of glucose, the apolipoproteins (Apo) Al and B and serum androgen levels were also evaluated. Results: E-2 decreased while P increased fasting levels of insulin (32.45 +/- 3.57, 26.36 +/- 2.90 and 37.36 +/- 3.67 pmol/l on day 1, 15 and 29 respectively; P < 0.01). Fasting glucose to insulin ratios changed inversely (P < 0.01). E-2 increased HDL from 1.07 +/- 0.05 mmol/l on day 1 to 1.17 +/- 0.07 mmol/l on day 29 but decreased corresponding levels of Lp(a) from 261 +/- 93 to 211 +/- 83 U/l (P = 0.03 for both). TC and LDL levels fell significantly after 14 days of E-2 treatment with no further decrease when P was added. Androgen levels remained unchanged during hormone treatment. Conclusion: The sequential, acute effects of E-2 and micronized P on insulin and lipids confirm a direct cause-effect relationship. The acute effects of P on insulin in particular, highlights the importance of standardizing the medication days according to estrogen and progestin in the clinical evaluation of their true metabolic impact in longer-term studies and may influence the choice of progestin type, dose and duration in hormone replacement (C) 2000 Elsevier Science Ireland Ltd. All rights reserved.