Composite materials in practical use can be subjected to a wide variety of different loading conditions. The most important conditions are mechanical stresses and environmental attacks. An issue of major concern in the utilization of composites is associated with the occurrence of delaminations or interlaminar cracks, which may be related to manufacturing defects or are induced in service by low-velocity impacts. The main environmental attacks are temperature, humidity, radiation, and chemical exposure. Three materials were investigated; two thermosetting matrices (unmodified and toughness-modified epoxy, EP and EP(mod)) and one thermoplastic matrix (semicrystalline polyetheretherketone, PEEK), all reinforced with unidirectional continuous carbon fibres. Samples of these materials were exposed to water in baths of different temperatures; they were taken for mechanical testing after various time periods. As a result of absorbed moisture, G(IC)-values increased with moisture content of the samples, whereas G(IIC)-values decreased. By means of scanning electron microscopy, fracture surfaces were examined. Evidence was found that the increase of G(IC)-values was due to a greater ductility of the matrix (as a result of the moisture absorbed) and hence more energy-consumptive fibre-bridging. On the other hand, interface failure, as well as a loss of shear strength of the epoxy with increasing amount of moisture absorbed, were responsible for the decrease in the G(IIC)-values. The thermoplastic matrix system (CF/PEEK) exhibited no influence Of moisture on the Mode I property, but a decrease of the values for Mode II.