Gas exchange patterns and water relations of two mistletoes, Tapinanthus oleifolius and Viscum rotundifolium on the same deciduous host tree, Acacia nebrownii, have been studied intensively in the dry and wet seasons in semi-arid south-eastern Namibia, where rain falls only in the summer. Comparative measurements of Tapinanthus oleifolius on the stem-succulent CAM plant, Euphorbia virosa, and on Ziziphus mucronata in the same area were also made. All measurements of CO2 exchange and transpiration were performed in fully acclimatized cuvettes of a gas exchange system which allowed continuous measurements of the host and the parasite simultaneously. The water potential results confirm previous observations that mistletoes have a lower water potential throughout the day than their hosts. In the dry season, pre-dawn and minimum water potential was about 1 MPa lower than in the wet season, for both the leafless and fully foliated host and the evergreen mistletoes. There was an effective stomatal control in all mistletoe plants investigated. The results obtained for transpiration, leaf conductance, internal CO2 concentration and water-use efficiency (WUE) contradicted commonly accepted generalizations. Transpiration and leaf conductance were found to be higher for the host than for any of its common mistletoes as long as the leaf-to-air water vapour pressure difference (Δw) did not exceed 30 mPa Pa− 1, At higher values of Δw, Tapinanthus oleifolius, but not Viscum rotundifolium, transpired at higher rates than the host. CO2 balance over 24 hours and photosynthetic CO2 uptake were significantly higher for the host than for any of its parasites. Although the WUE over 24 h was slightly better for Acacia nebrownii compared with Tapinanthus oleifolius, apparent WUE during photosynthetic CO2 uptake was always better for both mistletoes. Measurements of CO2 and water balance over 24 h, photosynthetic CO2 uptake, night respiration, internal CO2 concentration, leaf conductance and WUE indicate that Tapinanthus oleifolius and Viscum rotundifolium behaved in opposite ways in the dry and wet seasons, indicating that different phenological cycles of both species might be involved in determining mistletoe performance on the same host. The results presented contribute to a better understanding of the host/parasite relationship and indicate that commonly accepted generalizations may not always be applicable. Gaswisselingspatrone en waterverhoudings van twee voelente Tapinanthus oleifolius en Viscum rotundifolium op dieselfde bladwisselende gasheerplant Acacia nebrownii is bestudeer in die droe en nat seisoene in Suid-Oos-Namibie. Vergelykende studies van Tapinanthus oleifolius op Ziziphus mucronata en die stamsukkulente CAM plant Euphorbia virosa is ook uitgevoer. Alle bepalings is in ten voile ge-akklimatiseerde kuvette uitgevoer wat deurlopende bepalings op die gasheer en parasiet moontlik gemaak het. Die resultaat van die waterpotensiaalbepalings bevestig vorige waarnemings dat voelente’n laer waterpotensiaal gedurende die dag het as hulle gashere. Die minimum waterpotensiaal voor dagbreek in die droe seisoen was ongeveer 1 MPa laer as in die nat seisoen vir beide die blaarlose en blaarbevattende gasheerplant en die immergroen voelente wat ondersoek is. In al die voelente was daar effektiewe stomatere beheer teenwoordig. Die resultate wat behaal is vir transpirasie, blaargeleiding, interne koolsuurgaskonsentrasle en waterbenuttingsdoeltreffendheid het nie ooreengestem met aanvaarde veralgemenings nie. Transpirasie en blaargeleiding was hoer vir die gasheer as vir enige van die voelente solank as die blaar-tot-lug waterdampdruk verskil nie 30 mPa Pa− 1 oorskry het nie. By hoer waardes het Tapinanthus oleifolius, maar nie Viscum rotundifolium nie, teen’n hoer tempo as die gasheerplant getranspireer. Die koolsuurgasbalans oor 24 uur en die fotosintetiese koolsuurgasopname was betekenisvol hoer vir die gasheer as vir enige van die parasiete. Alhoewel die waterbenuttingsdoeltreffendheid oor 24 uur effens beter vir Acacia nebrownii as vir Tapinanthus oleifolius was, was die skynbare waterbenuttingsdoeltreffendheid gedurende fotosintetiese koolsuurgasopname altyd beter. Bepaling van die koolsuurgas en waterbalans oor 24 uur, fotosintetiese koolsuurgasopname, nagrespirasie, interne koolsuurgaskonsentrasie, blaargeleiding en waterbenuttingsdoeltreffendheid het aangedui dat die twee parasiete teenoorgesteld gereageer het in die nat en droe seisoene. Dit mag beteken dat verskillende fenologiese siklusse van albei spesies betrokke mag wees in die bepaling van voelentprestasie op dieselfde gasheer. Die resultate lei tot’n beter begrip van gasheer/parasietverwantskappe en dui daarop dat die aanvaarde veralgemenings nie altyd korrek is nie.