We look at the algebraic properties of Gevrey, analytic and ultraanalytic function spaces, namely their closure under composition, division and inversion. We show that both Gevrey and ultra-analytic spaces, G s with 1 ≤ s < ∞ and 0 < s < 1 respectively, form algebras. Closure under composition, division and inversion is shown to hold for the Gevrey case. For the ultra-analytic case we show it is not closed under composition. We also show that if a function is in G s , with 0 < s < 1 on a compact set, then it is in G s everywhere.