Definitions of the variables used and the units are given in Table 1 The literature reports enormous variation between species in the extent of stomatal responses to rising CO2. This paper attempts to provide a framework within which some of this diversity can be explained. We describe the role of stomata in the short-term response of leaf gas exchange to increases in ambient CO2 concentration by developing the recently proposed stomatal model of Jarvis & Davies (1998). In this model stomatal conductance is correlated with the functioning of the photosynthetic system so that the effects of increases in CO2 on stomata are experienced through changes in the rate of photosynthesis in a simple and mechanistically transparent way. This model also allows us to consider the effects of evaporative demand and soil moisture availability on stomatal responses to photosynthesis and therefore provides a means of considering these additional sources of variation. We emphasize that the relationship between the rate of photosynthesis and the internal CO2 concentration and also drought will have important effects on the relative gains to be achieved under rising CO2.