The ultrastructure of the areolae in the porcine placenta is described. The areolae occur on day 30 of pregnancy as dome-shaped formation over the openings of the uterine glands. The lumen of the areolae is filled with the secretions of the uterine glands, the so-called histiotroph. The areolae lining epithelium is high collumnar, possessing long microvilli, a well-developed apical tubular system and numerous coated vesicles. This indicates that the epithelium has a high absorptive capacity. Our histochemical investigations reveal a high content of glycoproteins within the areolar lumen. The importance of one of the glycoprotein components of the histiotroph, uteroferrin, is discussed in connection with iron transfer from mother to the fetus.