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This research aimed to investigate the physiological strategies that allow Phillyrea angustifolia, a sclerophyllous shrub widespread in the Mediterranean maquis, to cope successfully with the most stressful conditions of the Mediterranean climate i.e. summer drought and winter cold. Gas exchange and chlorophyll a fluorescence measurements as well as pigment content determinations were performed periodically throughout one whole year (spring 2004–spring 2005) on plants growing outdoor in the Botanical Garden of the Naples University. In June and July 2004 and in February 2005 the light-saturated net photosynthetic rate (P N) and stomatal conductance (gH2O) were lower compared to May and October 2004. Carboxylation rate (v c) was negatively affected by summer drought and low temperature. The quantum yield (ΦPSII) and maximum photochemical efficiency of PSII (F v/F m) significantly declined in February. All monitored parameters increased after each stressful period. The highest carotenoid content was detected in July whereas total pigment content was lower both in July and in February as compared to May and October, respectively. The photosynthetic apparatus of P. angustifolia is able to cope with summer drought and winter cold by different strategies: in summer, efficient stomatal control reduces water loss whereas in winter, PSII efficiency is down-regulated to avoid irreversible damage. [ABSTRACT FROM AUTHOR]