||Phenylbutazone administered in therapeutic doses to ponies decreased urinary sodium and chloride excretion. The volume and osmolality of the urine was unaffected as was potassium excretion. Faecal excretion of chloride decreased and that of potassium increased, while faecal sodium excretion was unaffected. Plasma pH, bicarbonate and total carbon dioxide decreased after phenylbutazone administration. Packed cell volume, plasma sodium, potassium, carbon dioxide tension and chloride were unchanged.