Stimulation of B lymphocytes to high rate Ig secretion is accompanied by increased RNA polymerase initiation on the mu-delta gene complex as well as alterations in the sites of polymerase termination. Stimulation of Ig secretion by in vivo preactivated B lymphocytes with IL-5 seems to operate via a mechanism that only affects polymerase termination so that newly synthesized transcripts are preferentially processed to microS mRNA. The absence of increased polymerase initiation may account for previous observations indicating that IL-5 acts primarily as a terminal differentiation factor.