Has low activity towards the organophosphate paraxon and aromatic carboxylic acid esters. Rapidly hydrolyzes lactones such as statin prodrugs (e.g. lovastatin). Hydrolyzes aromatic lactones and 5- or 6-member ring lactones with aliphatic substituents but not simple lactones or those with polar substituents (By similarity). a phenyl acetate + H2O = a phenol + acetate + H(+) An aryl dialkyl phosphate + H2O = dialkyl phosphate + an aryl alcohol. an N-acyl-L-homoserine lactone + H2O = an N-acyl-L-homoserine + H(+) Binds 2 calcium ions per subunit. Homodimer. Glycosylated. The signal sequence is not cleaved. Belongs to the paraoxonase family.