Knowledge of the degree of yield reduction due to water stress at different crop growth stages in rice production is important for rational scheduling of irrigation during periods of insufficient water supply. Previous studies to determine the degree of yield reduction duo to water stress suffered from interruptions by rain during experiment. Also the findings did rot relate the degree of water stress to the soil water potential and water deficit status of rice plants. In this study, two years experiments were conducted using the high yielding rice varieties, an Indica x Japonica (Nampoong) and a Japonica variety(Choochung). These were grown in 1/200$^{\circ}$ plastic pots placed under a rainfall autosensing, sliding clear plastic roof facility to control rainfall interruptions. The results obtained were as follows. 1.The two varieties differed in the growth stage most sensitive to water stress as well as the degree of yield reductions. When rice plants were stressed to the leaf rolling score 4 and soil water potential of about - 20 bar at major crop growth stages which included heading, booting, non-effective tillering, panicle initiation and early tillering stages, the yield reductions in the Indica x Japonica variety were 58%, 34%, 27%, 22%, and 21%, respectively, whereas in the Japonica vairety they were 23%, 36%, 1%, 13% and 22%, respectively. This result show that the recommended drainage during non-effective tillering is valid only for the Japonica variety. Sufficient irrigation at booting, heading and early tillering stages are necessary for both varieties. 2.The two varieties showed visible wilting symptoms when the soil water potential dropped to about - 3.0 bar. The Japonica variety showed more leaf rolling than the Indica X Japonica. However, it had a higher retention of leaf water content and greater stomatal diffusive resistance. When the soil water potential dropped, the Japonica variety showed leaf rolling score (LRS) 1 at 0 soil-5. 0 bar and LRS 2 at 0 soil -6.0 bar while the Indica X Japonica showed LRS 1 at 0 soil - 5.5 bar and LRS 2at 0 Soil - 9.0 bar. The stomatal diffusive resistance was maximum at the second top leaf blade in both varieties at intermediate water stress of 0 soil - 4.5 bar. 3.The number of days that was required for the soil water potential to drop to-3. 0 bar and to - 20.0 bar after drainage of irrigation water from the 20cm deep silty clay loam soil in the pots were 6 and 13 days, respectively for booting stage, and 7 and 11 days, respectively for heading stage, 9 and 12 days, respectively for panicle initiation stage, and 12 and 19 days, respectively for early tillering stage. 4.Water stress during the early tillering stage recorded the longest delay in beading time, the largest reduction in panicle numbers and a substantial yield decrease of 20%. This calls for better water management to ensure the availability of water at this stage, particularly during drought periods. In addition, a reexamination of the conventional inter-drainage practice during the non-effective tillering stage is necessary for the high yielding Indica X Japonica varieties.