The absence of paraoxonase activity in turkey and chicken blood and in turkey liver indicates that PON2, if expressed, does not hydrolyze paraoxon. a phenyl acetate + H2O = a phenol + acetate + H(+) An aryl dialkyl phosphate + H2O = dialkyl phosphate + an aryl alcohol. Binds 2 calcium ions per subunit. Glycosylated. The signal sequence is not cleaved. Belongs to the paraoxonase family.