In this paper, I have proposed a compositional semantic analysis of exception NPs from which three core properties of exception constructions could be derived. I have shown that this analysis overcomes various empirical and conceptual shortcomings of prior proposals of the semantics of exception sentences. The analysis was first formulated for simple exception NPs, where the EP-complement was considered a set-denoting term and the EP-associate was a monadic quantifier. It was then generalized in two steps: first, in order to account (...) for quantified EP-complements, and second, in order to account for polyadic quantifiers as the EP-associates. An additional assumption that was made in several places was that EPs may operate at the level of implications. The consequences of this assumption, though, still have to be investigated. (shrink)