Elongation factor-1 (EF-1) is a major substrate for cdc2 kinase in Xenopus oocytes. The guanine-nucleotide exchange factor EF-1 beta gamma delta, appears to have a highly complex macromolecular structure containing several GTP/GDP exchange proteins, valyl-tRNA synthetase, and a putative anchoring protein EF-1 gamma. During meiotic cell division, the factor becomes phosphorylated by cdc2 kinase, not only on EF-1 gamma, but also on two different phospho-acceptors on EF-1 delta. Phosphorylation is concomitant with changes in protein synthesis in vivo. Xenopus oocytes, and potentially all cells, contain a multitude of heteromeric forms of the complex which postulates that EF-1 beta gamma delta is not a "house keeping" factor but a sophisticated regulatory element.