diff --git a/modules/angular2/src/transform/template_parser/generator.dart b/modules/angular2/src/transform/template_parser/generator.dart
new file mode 100644
index 0000000000..eb768975c8
--- /dev/null
+++ b/modules/angular2/src/transform/template_parser/generator.dart
@@ -0,0 +1,133 @@
+library angular2.src.transform.template_parser.generator;
+
+import 'dart:async';
+
+import 'package:analyzer/analyzer.dart';
+import 'package:angular2/src/change_detection/parser/ast.dart';
+import 'package:angular2/src/change_detection/parser/lexer.dart' as ng;
+import 'package:angular2/src/change_detection/parser/parser.dart' as ng;
+import 'package:angular2/src/core/compiler/pipeline/compile_element.dart';
+import 'package:angular2/src/core/compiler/pipeline/compile_pipeline.dart';
+import 'package:angular2/src/core/compiler/pipeline/compile_step.dart';
+import 'package:angular2/src/core/compiler/pipeline/property_binding_parser.dart';
+import 'package:angular2/src/core/compiler/pipeline/text_interpolation_parser.dart';
+import 'package:angular2/src/core/compiler/pipeline/view_splitter.dart';
+import 'package:angular2/src/dom/dom_adapter.dart';
+import 'package:angular2/src/dom/html5lib_adapter.dart';
+import 'package:angular2/src/reflection/reflection.dart';
+import 'package:angular2/src/transform/common/asset_reader.dart';
+import 'package:angular2/src/transform/common/logging.dart';
+import 'package:angular2/src/transform/common/names.dart';
+import 'package:angular2/src/transform/common/parser.dart';
+import 'package:barback/barback.dart';
+import 'package:code_transformers/assets.dart';
+
+import 'recording_reflection_capabilities.dart';
+
+Future<String> processTemplates(AssetReader reader, AssetId entryPoint) async {
+  var parser = new Parser(reader);
+  NgDeps ngDeps = await parser.parse(entryPoint);
+
+  var registrations = new StringBuffer();
+  ngDeps.registeredTypes.forEach((rType) {
+    _processRegisteredType(reader, rType).forEach((String templateText) {
+      var values = _processTemplate(templateText);
+      var calls = _generateGetters('${rType.typeName}', values.getterNames);
+      if (calls.isNotEmpty) {
+        registrations.write('..registerGetters({${calls.join(', ')}})');
+      }
+      calls = _generateSetters('${rType.typeName}', values.setterNames);
+      if (calls.isNotEmpty) {
+        registrations.write('..registerSetters({${calls.join(', ')}})');
+      }
+    });
+  });
+
+  String code = ngDeps.code;
+  if (registrations.length == 0) return code;
+  var codeInjectIdx = ngDeps.registeredTypes.last.registerMethod.end;
+  return '${code.substring(0, codeInjectIdx)}'
+      '${registrations}'
+      '${code.substring(codeInjectIdx)}';
+}
+
+RecordingReflectionCapabilities _processTemplate(String templateCode) {
+  var recordingCapabilities = new RecordingReflectionCapabilities();
+  reflector.reflectionCapabilities = recordingCapabilities;
+
+  var compilePipeline = new CompilePipeline(createCompileSteps());
+  var template = DOM.createTemplate(templateCode);
+  // TODO(kegluneq): Need to parse this from a file when not inline.
+  compilePipeline.process(template, templateCode);
+
+  return recordingCapabilities;
+}
+
+List<String> _generateGetters(String typeName, List<String> getterNames) {
+  var getters = [];
+  getterNames.forEach((prop) {
+    // TODO(kegluneq): Include `typeName` where possible.
+    getters.add('\'$prop\': (o) => o.$prop');
+  });
+  return getters;
+}
+
+List<String> _generateSetters(String typeName, List<String> setterName) {
+  var setters = [];
+  setterName.forEach((prop) {
+    // TODO(kegluneq): Include `typeName` where possible.
+    setters.add('\'$prop\': (o, String v) => o.$prop = v');
+  });
+  return setters;
+}
+
+List<CompileStep> createCompileSteps() {
+  var parser = new ng.Parser(new ng.Lexer());
+  return [
+    new ViewSplitter(parser),
+//    cssProcessor.getCompileStep(
+//    compiledComponent, shadowDomStrategy, templateUrl),
+    new PropertyBindingParser(parser),
+//    new DirectiveParser(directives),
+    new TextInterpolationParser(parser)
+//    new ElementBindingMarker(),
+//    new ProtoViewBuilder(changeDetection, shadowDomStrategy),
+//    new ProtoElementInjectorBuilder(),
+//    new ElementBinderBuilder(parser)
+  ];
+}
+
+List<String> _processRegisteredType(AssetReader reader, RegisteredType t) {
+  var visitor = new _TemplateExtractVisitor(reader);
+  t.annotations.accept(visitor);
+  return visitor.templateText;
+}
+
+class _TemplateExtractVisitor extends Object with RecursiveAstVisitor<Object> {
+  final List<String> templateText = [];
+  final AssetReader _reader;
+
+  _TemplateExtractVisitor(this._reader);
+
+  @override
+  Object visitNamedExpression(NamedExpression node) {
+    // TODO(kegluneq): Remove this limitation.
+    if (node.name is Label && node.name.label is SimpleIdentifier) {
+      var keyString = '${node.name.label}';
+      if (keyString == 'inline') {
+        if (node.expression is SimpleStringLiteral) {
+          templateText.add(stringLiteralToString(node.expression));
+        } else {
+          logger.error(
+              'Angular 2 currently only supports string literals in directives',
+              ' Source: ${node}');
+        }
+      }
+    } else {
+      logger.error(
+          'Angular 2 currently only supports simple identifiers in directives',
+          ' Source: ${node}');
+    }
+    return super.visitNamedExpression(node);
+  }
+}
diff --git a/modules/angular2/src/transform/template_parser/recording_reflection_capabilities.dart b/modules/angular2/src/transform/template_parser/recording_reflection_capabilities.dart
new file mode 100644
index 0000000000..4dccd492e9
--- /dev/null
+++ b/modules/angular2/src/transform/template_parser/recording_reflection_capabilities.dart
@@ -0,0 +1,39 @@
+library angular2.src.transform.template_parser.recording_reflection_capabilities;
+
+import 'package:angular2/src/reflection/reflection_capabilities.dart';
+import 'package:angular2/src/reflection/types.dart';
+
+class RecordingReflectionCapabilities implements ReflectionCapabilities {
+  void _notImplemented(String name) {
+    throw 'Not implemented: $name';
+  }
+
+  final List<String> getterNames = [];
+  final List<String> setterNames = [];
+  final List<String> methodNames = [];
+
+  Function factory(Type type) => _notImplemented('factory');
+
+  List<List> parameters(typeOrFunc) => _notImplemented('parameters');
+
+  List annotations(typeOrFunc) => _notImplemented('annotations');
+
+  static GetterFn _nullGetter = (Object p) => null;
+  static SetterFn _nullSetter = (Object p, v) => null;
+  static MethodFn _nullMethod = (Object p, List a) => null;
+
+  GetterFn getter(String name) {
+    getterNames.add(name);
+    return _nullGetter;
+  }
+
+  SetterFn setter(String name) {
+    setterNames.add(name);
+    return _nullSetter;
+  }
+
+  MethodFn method(String name) {
+    methodNames.add(name);
+    return _nullMethod;
+  }
+}
diff --git a/modules/angular2/src/transform/template_parser/transformer.dart b/modules/angular2/src/transform/template_parser/transformer.dart
new file mode 100644
index 0000000000..d9c1cdfb3d
--- /dev/null
+++ b/modules/angular2/src/transform/template_parser/transformer.dart
@@ -0,0 +1,65 @@
+library angular2.src.transform.template_parser.transformer;
+
+import 'dart:async';
+import 'package:angular2/src/change_detection/parser/ast.dart';
+import 'package:angular2/src/change_detection/parser/lexer.dart';
+import 'package:angular2/src/change_detection/parser/parser.dart';
+import 'package:angular2/src/core/compiler/pipeline/compile_element.dart';
+import 'package:angular2/src/core/compiler/pipeline/compile_pipeline.dart';
+import 'package:angular2/src/core/compiler/pipeline/compile_step.dart';
+import 'package:angular2/src/core/compiler/pipeline/property_binding_parser.dart';
+import 'package:angular2/src/core/compiler/pipeline/text_interpolation_parser.dart';
+import 'package:angular2/src/core/compiler/pipeline/view_splitter.dart';
+import 'package:angular2/src/dom/dom_adapter.dart';
+import 'package:angular2/src/dom/html5lib_adapter.dart';
+import 'package:angular2/src/reflection/reflection.dart';
+import 'package:angular2/src/reflection/reflection_capabilities.dart';
+import 'package:angular2/src/transform/common/asset_reader.dart';
+import 'package:angular2/src/transform/common/formatter.dart';
+import 'package:angular2/src/transform/common/logging.dart' as log;
+import 'package:angular2/src/transform/common/names.dart';
+import 'package:angular2/src/transform/common/options.dart';
+import 'package:barback/barback.dart';
+import 'package:html5lib/dom.dart' as html;
+import 'package:html5lib/parser.dart' as html;
+import 'package:path/path.dart' as path;
+
+import 'generator.dart';
+
+class TemplateParser extends Transformer {
+  final TransformerOptions options;
+
+  TemplateParser(this.options);
+
+  @override
+  bool isPrimary(AssetId id) => id.path.endsWith(DEPS_EXTENSION);
+
+  @override
+  Future apply(Transform transform) async {
+    log.init(transform);
+
+    Html5LibDomAdapter.makeCurrent();
+
+    try {
+
+//      var doc = html.parse(inlineTemplate);
+//      parseTemplate(doc);
+
+      var id = transform.primaryInput.id;
+      var reader = new AssetReader.fromTransform(transform);
+      var transformedCode = await processTemplates(reader, id);
+      transform.addOutput(new Asset.fromString(id, transformedCode));
+    } catch (ex, stackTrace) {
+      log.logger.error('Parsing ng templates failed.\n'
+          'Exception: $ex\n'
+          'Stack Trace: $stackTrace');
+    }
+  }
+}
+
+const inlineTemplate =
+    '''<div class=\"greeting\">{{greeting}} <span red>world</span>!</div>
+<button class=\"changeButton\" (click)=\"changeGreeting()\">
+change greeting
+</button>
+''';
diff --git a/modules/angular2/src/transform/transformer.dart b/modules/angular2/src/transform/transformer.dart
index 30a774b8af..a96dc71095 100644
--- a/modules/angular2/src/transform/transformer.dart
+++ b/modules/angular2/src/transform/transformer.dart
@@ -7,6 +7,7 @@ import 'directive_linker/transformer.dart';
 import 'directive_processor/transformer.dart';
 import 'bind_generator/transformer.dart';
 import 'reflection_remover/transformer.dart';
+import 'template_parser/transformer.dart';
 import 'common/formatter.dart' as formatter;
 import 'common/options.dart';
 
@@ -18,7 +19,8 @@ class AngularTransformerGroup extends TransformerGroup {
   AngularTransformerGroup(TransformerOptions options) : super([
         [new DirectiveProcessor(options)],
         [new DirectiveLinker(options)],
-        [new BindGenerator(options), new ReflectionRemover(options)]
+        [new BindGenerator(options), new ReflectionRemover(options)],
+        [new TemplateParser(options)]
       ]) {
     formatter.init(new DartFormatter());
   }
diff --git a/modules/angular2/test/transform/template_parser/all_tests.dart b/modules/angular2/test/transform/template_parser/all_tests.dart
new file mode 100644
index 0000000000..3a108b2dfc
--- /dev/null
+++ b/modules/angular2/test/transform/template_parser/all_tests.dart
@@ -0,0 +1,30 @@
+library angular2.test.transform.directive_processor.all_tests;
+
+import 'dart:io';
+import 'package:barback/barback.dart';
+import 'package:angular2/src/transform/common/asset_reader.dart';
+import 'package:angular2/src/transform/common/formatter.dart';
+import 'package:angular2/src/transform/template_parser/generator.dart';
+import 'package:code_transformers/tests.dart';
+import 'package:dart_style/dart_style.dart';
+import 'package:path/path.dart' as path;
+import 'package:unittest/unittest.dart';
+import 'package:unittest/vm_config.dart';
+
+import '../common/read_file.dart';
+
+var formatter = new DartFormatter();
+
+void allTests() {
+  AssetReader reader = new TestAssetReader();
+
+  test('should parse simple inline templates.', () async {
+    var inputPath = 'template_parser/basic_files/hello.ngDeps.dart';
+    var expected =
+        readFile('template_parser/basic_files/expected/hello.ngDeps.dart');
+    var output = await processTemplates(reader, new AssetId('a', inputPath));
+    output = formatter.format(output);
+    expected = formatter.format(expected);
+    expect(output, equals(expected));
+  });
+}
diff --git a/modules/angular2/test/transform/template_parser/basic_files/expected/hello.ngDeps.dart b/modules/angular2/test/transform/template_parser/basic_files/expected/hello.ngDeps.dart
new file mode 100644
index 0000000000..f5350f7119
--- /dev/null
+++ b/modules/angular2/test/transform/template_parser/basic_files/expected/hello.ngDeps.dart
@@ -0,0 +1,22 @@
+library examples.src.hello_world.index_common_dart;
+
+import 'hello.dart';
+import 'package:angular2/angular2.dart'
+    show bootstrap, Component, Decorator, Template, NgElement;
+
+bool _visited = false;
+void setupReflection(reflector) {
+  if (_visited) return;
+  _visited = true;
+  reflector
+    ..registerType(HelloCmp, {
+      'factory': () => new HelloCmp(),
+      'parameters': const [const []],
+      'annotations': const [
+        const Component(selector: 'hello-app'),
+        const Template(inline: '{{greeting}}')
+      ]
+    })
+    ..registerGetters({'greeting': (o) => o.greeting})
+    ..registerSetters({'greeting': (o, String v) => o.greeting = v});
+}
diff --git a/modules/angular2/test/transform/template_parser/basic_files/hello.ngDeps.dart b/modules/angular2/test/transform/template_parser/basic_files/hello.ngDeps.dart
new file mode 100644
index 0000000000..325570824c
--- /dev/null
+++ b/modules/angular2/test/transform/template_parser/basic_files/hello.ngDeps.dart
@@ -0,0 +1,20 @@
+library examples.src.hello_world.index_common_dart;
+
+import 'hello.dart';
+import 'package:angular2/angular2.dart'
+    show bootstrap, Component, Decorator, Template, NgElement;
+
+bool _visited = false;
+void setupReflection(reflector) {
+  if (_visited) return;
+  _visited = true;
+  reflector
+    ..registerType(HelloCmp, {
+      'factory': () => new HelloCmp(),
+      'parameters': const [const []],
+      'annotations': const [
+        const Component(selector: 'hello-app'),
+        const Template(inline: '{{greeting}}')
+      ]
+    });
+}
diff --git a/modules/angular2/test/transform/transform.server.spec.dart b/modules/angular2/test/transform/transform.server.spec.dart
index 214f7f1a54..0296ad80ec 100644
--- a/modules/angular2/test/transform/transform.server.spec.dart
+++ b/modules/angular2/test/transform/transform.server.spec.dart
@@ -7,6 +7,7 @@ import 'bind_generator/all_tests.dart' as bindGenerator;
 import 'directive_processor/all_tests.dart' as directiveProcessor;
 import 'integration/all_tests.dart' as integration;
 import 'reflection_remover/all_tests.dart' as reflectionRemover;
+import 'template_parser/all_tests.dart' as templateParser;
 
 main() {
   useVMConfiguration();
@@ -14,4 +15,5 @@ main() {
   group('Directive Processor', directiveProcessor.allTests);
   group('Reflection Remover', reflectionRemover.allTests);
   group('Transformer Pipeline', integration.allTests);
+  group('Template Parser', templateParser.allTests);
 }