Immunoelectrophoresis of water soluble extracts of epidermis obtained from normal individuals showed only the presence of serum proteins. Watery extracts of psoriatic epidermis showed on immunoelectrophoresis in addition the presence of two distinct precipitation lines in the globulin region. These lines are apparently not related to any serum protein, leucocytes, erythrocytes or to bacterial antigens; their further identification is being attempted.