Complestatin and isomeric chloropeptin I are bicycle hexapeptides isolated from a Streptomyces sp. Both of these compounds are inhibitors of gp120-CD4 HIV fusion activity. In this paper, we describe an efficient acid catalyzed conversion of complestatin to chloropeptin I, provide a plausible mechanism for this transformation, and unambiguously assign the stereochemistry of complestatin. (C) 1998 Elsevier Science Ltd. All rights reserved.