Mevalonic acid (MVA) is well known as a precursor of cholesterol1, and it is also established that squalene is an intermediate in the biosynthesis of cholesterol2,3. When liver microsomes plus the cell sap are incubated with 2-14C mevalonic acid in air, most of the radioactivity is incorporated into cholesterol and very little radioactivity is associated with squalene. Conversely, in anaerobic conditions squalene accumulates4,5. We have encountered an interesting situation in which squalene accumulates during cholesterologenesis in aerobic conditions. © 1969 Nature Publishing Group.