We give an alternate description of algebras in the class of ultraweakly closed subspaces of q(X) via the preannihilator. We then apply this result to show that proper ultraweakly closed algebras of bounded operators on an infinite-dimensional Hilbert space X have infinite codimension. We also use this alternate description of algebras to say something the structure of rank-one operators in unicellular algebras. We begin with some basic definitions and notation. For ', an infinitedimensional Hilbert space, let 5F(X) denote the set of all bounded linear operators on X and let Y(X) denote the set of all trace-class operators on X'. Then Y('), equipped with the trace norm, is a Banach space whose dual is 5( ). The duality is given by the linear functional on 7(X) x (X) defined by (t, x) tr(tx) for t EzY(X), x E (X), where tr denotes the trace. Thus we get a w*-topology on 5(X), which is also known as the ultraweak topology. The weak-operator topology (which we shall refer to as the weak topology) is actually weaker than the ultraweak topology, so all the results stated in this paper for ultraweakly closed subspaces are true for weakly closed subspaces. An excellent exposition of the role of this duality theory in invariant subspace theory is [ 1]. We shall follow the notation of [ 1], which the reader can consult for more background. As usual, we can use the above duality to define preannihilators. For ? an ultraweakly closed subspace of (X), the preannihilator is X1 = {t EY7(X) I tr(tm) = 0 for all m Ecz}. The codimension of A'(codim(.')) is the vector space dimension of {f(X)/ X'}. If we identify all infinite cardinals, then this is also equal to the vector space dimension of X1 . Given x, y E X, the operator x 0 y is the rank-one operator defined by x X y(z) = (z, y)x for z E X. Received by the editors July 3, 1989. 1980 Mathematics Subject Classification (1985 Revision). Primary 47D25. ? 1990 American Mathematical Society 0002-9939/90 $1.00 + $.25 per page