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Pleurotus florida Mont. exudate, appearing as reddish- brown droplets of fluid was characterized for enzymatic properties. Oyster mushroom exudate grown on mango peel residue and wheat straw in 10:1 ratio at 25±1°C possessed high antioxidant value (920 mM/mL) and exhibited pectinase, cellulase, b-glucosidase and endoglucanase activities. Predominant enzyme activity was identified as pectinase with maximum activity of 0.35 U/ ml. The temperature of 35 ºC and pH 5.0 were found optimum for maximum pectinase specific activity. Kinetic analyses of pectinase in terms of Michaelis-Menten constant (Km), velocity maximum (Vmax) were 0.54 mg/ml, 0.25 mole/ml/min, respectively. This is first report of mushroom exudate enzyme characterization.