Centrin and calmodulin (CaM) are closely related four-EF-hand Ca2+-binding proteins. While CaM is monomeric, centrin 2 is dimeric and binds only two Ca2+ per dimer, likely to site IV in each monomer. Ca2+ binding to centrin 2 displays pronounced negative cooperativity and a [Ca2+]0.5 of 30 μM. As in CaM, Ca2+ binding leads to the exposure of a hydrophobic probe-accessible patch on the surface of centrin 2. Provided Ca2+ is present, centrin 2 forms a 1:1 peptide:monomer complex with melittin with an affinity of 100 nM. The complex binds four instead of two Ca2+. Our data point to surprising differences in the mode of activation of these homologous proteins.