The activities of FeO and ZnO were measured in iron-saturated slags in the systems FeO-CaO-SiO//2-ZnO and FeO-CaO-SiO//2-Al//2O//3-ZnO by use of an emf technique at 1250 degree C. Liquid silver was used as the zinc and oxygen transfer medium. The effects of basicity and alumina content on the activity coefficients of FeO and ZnO in these slags are discussed. The activity coefficients increase with increase in lime: silica ratio and with increase in alumina content.