In this paper, we present the design and evaluation of PeerDB, a peer-to-peer (P2P) distributed data sharing system. PeerDB distinguishes itself from existing P2P systems in several ways. First, it is a full-fledge data management system that supports fine-grain content-based searching. Second, it facilitates sharing of data without shared schema. Third, it combines the power of mobile agents into P2P systems to perform operations at peers' sites. Fourth, PeerDB network is self-configurable, i.e., a node can communicate directly with based on some optimization criterion. By keeping peers that provide most information or services in close proximity (i.e, direct communication), the network bandwidth can be better utilized and system performance can be optimized. We implemented and evaluated PeerDB on a cluster of 32 Pentium II PCs. Our experimental results show that PeerDB can effectively exploit P2P technologies for distributed data sharing.