<p>A peptide having the formula: X-A-B-Y wherein A and B are the same or different and represent an amino acid residue or a peptide residue; X represents an amino protective group and Y represents a carboxyl protective group, is prepared by reacting an amino acid or peptide having an N-terminal protective group or a salt thereof of the formula: X-A-OH with an amino acid or peptide having a C-terminal protective group or a salt thereof of the formula: H-B-Y in the presence of metalloproteinase in an aqueous solution having a pH which maintains the enzyme activity of said metalloproteinase.</p>
