Given operators X and Y acting on a Hilbert space $\mathcal{H}$, an interpolating operator is a bounded operator A such that AX = Y. In this article, the following is proved: Let $\mathcal{L}$ be a subspace lattice on $\mathcal{H}$ and let X and Y be operators acting on a Hilbert space H. Let P be the projection onto the $\overline{rangeX}$. If PE = EP for each E ${\in}$ $\mathcal{L}$, then the following are equivalent: (1) sup ${{\frac{{\parallel}E^{\perp}Yf{\parallel}}{{\parallel}E^{\perp}Xf{\parallel}}}:f{\in}\mathcal{H},\;E{\in}\mathcal{L}}$ < ${\infty},\;\overline{rangeY}\;{\subset}\;\overline{rangeX}$, and there is a bounded operator T acting on $\mathcal{H}$ such that < Xf, Tg >=< Yf, Xg >, < Tf, Tg >=< Yf, Yg > for all f and gin $\mathcal{H}$ and $T^*h$ = 0 for h ${\in}\;{\overline{rangeX}}^{\perp}$. (2) There is a normal operator A in AlgL such that AX = Y and Ag = 0 for all g in range ${\overline{rangeX}}^{\perp}$.