Adopting a similar approach to Beyerlein et al. (1985), void fraction distributions in turbulent two-phase bubbly air/water upflows and downflows in vertical pipes were analyzed using a simple transport model which was based on the assumptions that the lateral shear-induced lift force acting on bubbles (Thomas et al., 1983) is balanced by bubble dispersion, and that bubbles in the Bow are conserved i.e. no bubble breakup or coalescence occurs. The model shows the importance of considering the lateral lift force experienced by bubbles as they move relative to the liquid phase in a non-uniform velocity field. This force causes the bubbles to accumulate near the wall forming a high concentration for upward Bow, while the concentration increases toward the centre of the pipe for downward Bow. The eddy diffusivity, as widely used in calculation of single-phase flow, can be extended to include the effect of pseudo-turbulence (Lance and Bataille, 1991) due to bubbles, and thus can be linked with the bubble dispersion coefficient. It is also demonstrated that the transverse or radial pressure gradient induced by the Reynolds stress exerts a lateral force on the bubbles, and thus affects their distribution in the Bow. A comparison of the model predictions with experimental data from Serizawa et al. (1975) for upflows and Wang et al. (1987) for both upflows and downflows shows that our model predicts void fraction peaking near the wall for upflows and coring at the centre-line for downflows. Compared with similar investigations (e.g., Drew and Lahey, 1982; Lopez de Bertodano et al., 1990) of the same problem, our model approach appears to be simpler and more suitable for engineering calculations.