For the screening and the development of the new bio-material, cultural conditions for the exo-biopolymer (EBP) production throught the submerged cultivation of Ganoderma lucidum mycelium were investigated. Also, the fractionations and the purifications of the exo-biopolymer were carried out and the chemical compositions of the exo-biopolymer were examined. The optimal culture conditions for the exo-biopolymer production were pH 5.0, 30$^{circ}C$ and 100 rpm of agitation speed in the medium containing of 5% (w/v) glucose, 0.5%(w/v) yeast extract, 0.1% (w/v) ($(NH_4)_2HPO_4$, and 0.05% (w/v) $KH_2PO_4$. In the flask cultivation for 7 days under these conditions, the concentration of the maximum exo-biopolymer and the cell mass were 15.4g/l and 18.8g/l, respectively. The specific growth rate was 0.039 $hr^{-1}$. In addition, the substrate consumption rate, and the exo-biopolymer production rate were 0.043$gg^{-1}$$hr^{-1}$ and 0.025$gg^{-1}$$hr^{-1}$, respectively. The exo-biopolymer was fractionated into BWS (water soluble exo-biopolymer) and BWI (water insoluble exo-biopolymer) by the water extraction, and the sugar contents of two fractions were higher than 97% (based on dry basis). The components sugar of BWS and BWI fractions were glucose, galactose, mannose, xylose, and fucose. Their molar ratios were 3.6:1.5:2.1:0.5: trace and 2.9:3.1:2.0:1.6:0.3, respectively.