This invention provides a 2-arylpyrazolo[1,5-a]pyrimidine-3-acetic acid corresponding to the formula: ##STR1## where X is hydrogen or a halogen, hydroxy, C.sub.1 -C.sub.4 alkyl or C.sub.1 -C.sub.4 alkoxy substituent; Y is hydrogen or a halogen, C.sub.1 -C.sub.4 alkyl or C.sub.1 -C.sub.4 alkoxy substituent; Z is a hydroxy, C.sub.1 -C.sub.4 alkoxy or --NRR substituent; and R is hydrogen or a C.sub.1 -C.sub.4 alkyl substituent; or a pharmaceutically acceptable salt thereof which is useful as a therapeutic agent which exhibits anxiolytic, anticonvulsant and muscle relaxant effects in a warm blooded animal.