The relative stability of isomers of borane adducts of 1,3,2-oxazaborolidines was investigated by means of ab initio molecular orbital methods. One open-chain isomer was found to be more stable than the borane N-adduct proposed to be one of the key-intermediates of the catalytic enantioselective reduction of ketones. Borane N-adduct of 1,3,2-oxazaborolidine was found to be 19 kJ mol-1 (6-31G*//6-31G*) more stable than the corresponding O-adduct. Geometry of the ring oxygen of the O-adduct appeared out to be practically planar.