Micellization of sodium bis(2-ethylhexyl) phosphate in n-heptane has been studied under controlled environmental conditions by dynamic and static light scattering. The results clearly show that a trace amount of water has a very dramatic effect on reversed micellization. In contrast with results in the literature, water can function as an antimicellization agent. The generality of and the evidence for supporting the current view that water is a prerequisite for the formation of reversed micelles are discussed and criticized. ?? 1992 American Chemical Society.