The invention relates to a portable terminal such as a portable telephone terminal and so forth for effecting communication, information processing and so forth, and to provide the portable terminal and a master slave portable telephone system capable of rendering a transmission and/or reception mode of information to be multi-functional to enhance communication function, thereby enhancing the convenience thereof. The portable terminal comprises an information transmission and/or reception part for effecting transmission and/or reception of information, a radio communication part for effecting communication by radio, and an information processing part for processing information. The portable terminal can effect transmission and/or reception of information relative to another portable terminal by any of a master terminal made up of the information transmission and/or reception part and the information processing part, a slave terminal made up of the information transmission and/or reception part and the radio communication part, and a normal terminal configured by combining the radio communication part with the information processing part via the information transmission and/or reception part.