The SEMAPHORE mesoscale air/sea experiment was conducted in the Azores-Madeira region from July to November 1993. TOPEX/POSEIDON (T/P) and ERS 1 were flying simultaneously at that time. The main purposes of this paper are to evaluate the estimation of the oceanic mesoscale circulation from the two different sets of altimetric data (T/P and ERS 1) and to compare the results with in situ measurements provided by the SEMAPHORE hydrographic surveys and surface drifters (three expendable bathytermograph conductivity-temperature-depth surveys in a 500-km(2) box and a set of 47 Lagrangian surface drifters drogued at 150 m). Comparisons are carried out through the maps obtained by objective analysis from the four data sets. The mapping accuracy of T/P, ERS 1, T/P and ERS 1 combined, and in situ data is investigated, as well as the sensitivity of the mapping to the correlation functions used. There is a good qualitative agreement between altimetric maps and corresponding drifter and hydrographic maps for the three hydrographic surveys. Correlations are about 0.8, and the regression fit is about 0.6-0.7; the lower values are due to the smooth climatology used to reference the altimetric maps. The correlation for time differences is better, with regression lines not significantly different from 1, especially when ERS 1 and T/P are combined. T/P mapping is almost as good as ERS 1 mapping, which was rather unexpected since the ERS 1 space-time sampling is better suited for the mesoscale. This may reflect the fact that the signal mapped by the hydrography and drifters does not contain the high frequency/wavenumber components. T/P and ERS 1 combined provide better results, although the improvement is not as large as expected, probably for the same reason.