Intelligent Peripheral(IP) system is to provide specialized resource functions (SRF) such as playing announcement, collecting user information, and receiving messages in the Advanced Intelligent Network (AIN). We analyze the call processing capacity of an AIN IP system being developed in ETRI through an extensive simulation using SLAM II under a variety of AIN service scenarios. We consider televoting (VOT) and universal personal telecommunication (UPT) services which are to be provided at the fit implementation of the AIN in Korea. As the performance criteria to determine the call processing capacity, processor utilization, delay and call loss probability are considered. It turns out that the major processor called SAMP is the bottleneck processor, the service response delay dominates the delay performance, and the call loss probability becomes the primary criterion in determining the call processing capacity of the AIN IP system. It is also shown that the call processing capacity of the AIN IP system is determined by the utilization of the processor and the delay performance when the VOT ratio is below 70 percent but it is determined by the call loss probability due to the lack of service channels for providing the SRF operations.