New ABC type terpolymers of poly(ethoxyethyl glycidyl ether)/poly(ethylene oxide)/poly(D,L-lactide) were obtained by multi-mode anionic polymerization. After successive deprotection of the ethoxyethyl groups front the first block, highly hydroxyl functionalized copolymers of polyglycidol/poly(ethylene oxide)/poly(D,L-lactide) were obtained. These copolymers form elongated ellipsoidal micelles by direct dissolution in water. The micelles consist of a poly(D,L-lactide) core and stabilizing shell of polyglycidol/poly(ethylene oxide). The hydroxyl groups of polyglycidol blocks situated at the micelle surface provide high functionality. which Could be engaged in further chemical modification resulting in a potential drug targeting agents. The micellization process of the copolymers in aqueous media was studied by hydrophobic dye solubilization, static and dynamic light scattering, and transmission electron microscopy. (c) 2005 Elsevier Ltd. All rights reserved.