A two-dimensional (2D) square-grid coordination polymer, {[Ni(cyclam)]2[BPTC]}n.2nH2O (1), has been assembled from [Ni(cyclam)](ClO4)2 (cyclam = 1,4,8,11-tetraazacyclotetradecane) and H4BPTC (H4BPTC = 1,1'-biphenyl-2,2',6,6'-tetracarboxylic acid) in H2O/MeOH (2.5:1, v/v) in the presence of triethylamine. When solid 1 was immersed in the EtOH solutions of AgNO3 (1.3 x 10(-1) M) and NaAuCl4.2H2O (3.4 x 10(-2) M), respectively, for 5 min at room temperature, solids including Ag (3.7 +/- 0.4 nm, diameter) and Au (2 nm, diameter) nanoparticles were formed by the redox reactions between Ni(II) ions incorporated in 1 and metal ions, as evidenced by HRTEM images, EPR, and XPS spectra. When single-crystal 1 was heated at 180 degrees C under 10(-5) Torr for 24 h, it was transformed to dehydrated compound {[Ni(cyclam)]2[BPTC]}n (2) in the single-crystal-to-single-crystal manner. The X-ray crystal structure of 2 reveals extensive dynamic motions of the molecular components in response to guest removal, involving rotation of the carboxylate and macrocycle, swing of the biphenyl, and bending of the macrocyclic coordination plane toward the carboxylate plane, which reduces the interlayer distance.