The phase diagram of the system water-hexane-Aerosol OT and information on its phase properties were obtained by polarizing microscopy, turbidity, Na-23 and H-2 quadrupole splitting, electrical conductance, and self-diffusion. The hydrocarbon has some influence on the extension and stability of the mesophases: it does not dissolve in the viscous isotropic phase, has a nonspecific influence on the extension of the lamellar one, and has a significant effect on extension and location of the reverse hexagonal phase. The reverse solution phase, extending in a wide part of the phase diagram, contains a molecular and a reverse micellar region; the dimensions of the aqueous droplets are 40 +/- 15 angstrom in diameter. The micellar region is of limited extension and able to dissolve small amounts of oil. Experimental evidence indicates that polyphasic lamellar dispersions and/or lamellar samples at high water content are extremely sensitive to shear stresses, transform into stiff lamellar-like structures, and retain such appearance for a long time.