The physiological characteristics and function of the exopolysaccharide (EPS) produced by Lactobacillus rhamnosus ATCC 9595 were determined. The total quantity of EPS was rapidly increased to 496$pm$20 mg/l during the exponential phase, and then maintained steadily during the stationary phase. During the exponential phase (18 h), the total EPS consisted of 61% cell-bound EPS (cb-EPS) and 39% released EPS (r-EPS), whereas the relative proportion of EPS during the stationary phase (48 h) was convered to 23% cb-EPS and 77% r-EPS. On gel permeation chromatography, cb-EPS was fractionated as a single peak of 8.6$ imes10^6$ Da, whereas r-EPS was fractionated as two peaks with average molecular weights of 4.3$ imes$10$^4$ and 8.6$ imes10^6$ Da. Interestingly, both EPS species exhibited anticancer properties and cholera toxin-binding activities. Our results suggest that the EPS generated by L. rhamnosus ATCC 9595 might be suitable for use as a functional food or food supplement.