Epithelial stem cells play a central role in tissue homeostasis, wound repair, and carcinogenesis. Corneal epithelial stem cells have been demonstrated to reside in the limbal epithelium, while the fornical zone of the conjunctiva appears to be a predominant site of conjunctival epithelial stem cells. Stem cells of the corneal and conjunctival epithelia, as well as the hair follicle and interfollicular epidermis share important features: they are capable of self renewal; they are relatively quiescent (slow-cycling); they can be induced to proliferate; and they are multipotent. Its becoming apparent that a certain degree of flexibility exists between corneal and hair follicle keratinocytes.