The oxygen consumption (Vo2) of 12 normal women was measured at monthly intervals during pregnancy and 2, 6 and 12 weeks and 6 months postpartum. At each study session measurements were made sitting at rest, during standard steady-state exercise on a bicycle ergometer, and for 10 minutes of recovery. A significant increase in exercise Vo2 was observed in late pregnancy when compared to paired postpartum values. The oxygen debt incurred by standard exercise was also greater in late pregnancy than 12-14 weeks postpartum.