1. Synaptic plasma membrane vesicles (SPMV) from rat brain synthesized ceramide-phosphoethanolamine (SpE), an analogue of sphingomyelin (SpC) from phosphatidylethanolamine (PE) and ceramide. 2. This reaction was catalyzed by PE: ceramide-phosphotransferase. 3. The presence of PC did not modify the SpE synthesis and PI and PS at twice PE concentration seemed to be activators; only PG was an inhibitor at all concentrations. 4. Some cations (Mg2+, Mn2+) were without effect, while Ca2+ increased transferase activity, so was interesting to study. 5. Transferase was compared with sialidase (external enzyme). 6. Kinetics other than those already performed by us were undertaken in order to confirm its location.