diff --git a/moto/dynamodb2/responses.py b/moto/dynamodb2/responses.py
index 60886e171..49095f09c 100644
--- a/moto/dynamodb2/responses.py
+++ b/moto/dynamodb2/responses.py
@@ -31,6 +31,67 @@ def get_empty_str_error():
                              ))
 
 
+def condition_expression_to_expected(condition_expression, expression_attribute_names, expression_attribute_values):
+    """
+    Limited condition expression syntax parsing.
+    Supports Global Negation ex: NOT(inner expressions).
+    Supports simple AND conditions ex: cond_a AND cond_b and cond_c.
+    Atomic expressions supported are attribute_exists(key), attribute_not_exists(key) and #key = :value.
+    """
+    expected = {}
+    if condition_expression and 'OR' not in condition_expression:
+        reverse_re = re.compile('^NOT\s*\((.*)\)$')
+        reverse_m = reverse_re.match(condition_expression.strip())
+
+        reverse = False
+        if reverse_m:
+            reverse = True
+            condition_expression = reverse_m.group(1)
+
+        cond_items = [c.strip() for c in condition_expression.split('AND')]
+        if cond_items:
+            exists_re = re.compile('^attribute_exists\s*\((.*)\)$')
+            not_exists_re = re.compile(
+                '^attribute_not_exists\s*\((.*)\)$')
+            equals_re = re.compile('^(#?\w+)\s*=\s*(\:?\w+)')
+
+        for cond in cond_items:
+            exists_m = exists_re.match(cond)
+            not_exists_m = not_exists_re.match(cond)
+            equals_m = equals_re.match(cond)
+
+            if exists_m:
+                attribute_name = expression_attribute_names_lookup(exists_m.group(1), expression_attribute_names)
+                expected[attribute_name] = {'Exists': True if not reverse else False}
+            elif not_exists_m:
+                attribute_name = expression_attribute_names_lookup(not_exists_m.group(1), expression_attribute_names)
+                expected[attribute_name] = {'Exists': False if not reverse else True}
+            elif equals_m:
+                attribute_name = expression_attribute_names_lookup(equals_m.group(1), expression_attribute_names)
+                attribute_value = expression_attribute_values_lookup(equals_m.group(2), expression_attribute_values)
+                expected[attribute_name] = {
+                    'AttributeValueList': [attribute_value],
+                    'ComparisonOperator': 'EQ' if not reverse else 'NEQ'}
+
+    return expected
+
+
+def expression_attribute_names_lookup(attribute_name, expression_attribute_names):
+    if attribute_name.startswith('#') and attribute_name in expression_attribute_names:
+        return expression_attribute_names[attribute_name]
+    else:
+        return attribute_name
+
+
+def expression_attribute_values_lookup(attribute_value, expression_attribute_values):
+    if isinstance(attribute_value, six.string_types) and \
+            attribute_value.startswith(':') and\
+            attribute_value in expression_attribute_values:
+        return expression_attribute_values[attribute_value]
+    else:
+        return attribute_value
+
+
 class DynamoHandler(BaseResponse):
 
     def get_endpoint_name(self, headers):
@@ -220,24 +281,13 @@ class DynamoHandler(BaseResponse):
         # expression
         if not expected:
             condition_expression = self.body.get('ConditionExpression')
-            if condition_expression and 'OR' not in condition_expression:
-                cond_items = [c.strip()
-                              for c in condition_expression.split('AND')]
-
-                if cond_items:
-                    expected = {}
-                    overwrite = False
-                    exists_re = re.compile('^attribute_exists\s*\((.*)\)$')
-                    not_exists_re = re.compile(
-                        '^attribute_not_exists\s*\((.*)\)$')
-
-                for cond in cond_items:
-                    exists_m = exists_re.match(cond)
-                    not_exists_m = not_exists_re.match(cond)
-                    if exists_m:
-                        expected[exists_m.group(1)] = {'Exists': True}
-                    elif not_exists_m:
-                        expected[not_exists_m.group(1)] = {'Exists': False}
+            expression_attribute_names = self.body.get('ExpressionAttributeNames', {})
+            expression_attribute_values = self.body.get('ExpressionAttributeValues', {})
+            expected = condition_expression_to_expected(condition_expression,
+                                                        expression_attribute_names,
+                                                        expression_attribute_values)
+            if expected:
+                overwrite = False
 
         try:
             result = self.dynamodb_backend.put_item(name, item, expected, overwrite)
@@ -590,23 +640,11 @@ class DynamoHandler(BaseResponse):
         # expression
         if not expected:
             condition_expression = self.body.get('ConditionExpression')
-            if condition_expression and 'OR' not in condition_expression:
-                cond_items = [c.strip()
-                              for c in condition_expression.split('AND')]
-
-                if cond_items:
-                    expected = {}
-                    exists_re = re.compile('^attribute_exists\s*\((.*)\)$')
-                    not_exists_re = re.compile(
-                        '^attribute_not_exists\s*\((.*)\)$')
-
-                for cond in cond_items:
-                    exists_m = exists_re.match(cond)
-                    not_exists_m = not_exists_re.match(cond)
-                    if exists_m:
-                        expected[exists_m.group(1)] = {'Exists': True}
-                    elif not_exists_m:
-                        expected[not_exists_m.group(1)] = {'Exists': False}
+            expression_attribute_names = self.body.get('ExpressionAttributeNames', {})
+            expression_attribute_values = self.body.get('ExpressionAttributeValues', {})
+            expected = condition_expression_to_expected(condition_expression,
+                                                        expression_attribute_names,
+                                                        expression_attribute_values)
 
         # Support spaces between operators in an update expression
         # E.g. `a = b + c` -> `a=b+c`
diff --git a/tests/test_dynamodb2/test_dynamodb.py b/tests/test_dynamodb2/test_dynamodb.py
index ea9be19c1..3d6f1de65 100644
--- a/tests/test_dynamodb2/test_dynamodb.py
+++ b/tests/test_dynamodb2/test_dynamodb.py
@@ -1505,3 +1505,110 @@ def test_dynamodb_streams_2():
     assert 'LatestStreamLabel' in resp['TableDescription']
     assert 'LatestStreamArn' in resp['TableDescription']
     
+@mock_dynamodb2
+def test_condition_expressions():
+    client = boto3.client('dynamodb', region_name='us-east-1')
+    dynamodb = boto3.resource('dynamodb', region_name='us-east-1')
+
+    # Create the DynamoDB table.
+    client.create_table(
+        TableName='test1',
+        AttributeDefinitions=[{'AttributeName': 'client', 'AttributeType': 'S'}, {'AttributeName': 'app', 'AttributeType': 'S'}],
+        KeySchema=[{'AttributeName': 'client', 'KeyType': 'HASH'}, {'AttributeName': 'app', 'KeyType': 'RANGE'}],
+        ProvisionedThroughput={'ReadCapacityUnits': 123, 'WriteCapacityUnits': 123}
+    )
+    client.put_item(
+        TableName='test1',
+        Item={
+            'client': {'S': 'client1'},
+            'app': {'S': 'app1'},
+            'match': {'S': 'match'},
+            'existing': {'S': 'existing'},
+        }
+    )
+
+    client.put_item(
+        TableName='test1',
+        Item={
+            'client': {'S': 'client1'},
+            'app': {'S': 'app1'},
+            'match': {'S': 'match'},
+            'existing': {'S': 'existing'},
+        },
+        ConditionExpression='attribute_exists(#existing) AND attribute_not_exists(#nonexistent) AND #match = :match',
+        ExpressionAttributeNames={
+            '#existing': 'existing',
+            '#nonexistent': 'nope',
+            '#match': 'match',
+        },
+        ExpressionAttributeValues={
+            ':match': {'S': 'match'}
+        }
+    )
+
+    client.put_item(
+        TableName='test1',
+        Item={
+            'client': {'S': 'client1'},
+            'app': {'S': 'app1'},
+            'match': {'S': 'match'},
+            'existing': {'S': 'existing'},
+        },
+        ConditionExpression='NOT(attribute_exists(#nonexistent1) AND attribute_exists(#nonexistent2))',
+        ExpressionAttributeNames={
+            '#nonexistent1': 'nope',
+            '#nonexistent2': 'nope2'
+        }
+    )
+
+    with assert_raises(client.exceptions.ConditionalCheckFailedException):
+        client.put_item(
+            TableName='test1',
+            Item={
+                'client': {'S': 'client1'},
+                'app': {'S': 'app1'},
+                'match': {'S': 'match'},
+                'existing': {'S': 'existing'},
+            },
+            ConditionExpression='attribute_exists(#nonexistent1) AND attribute_exists(#nonexistent2)',
+            ExpressionAttributeNames={
+                '#nonexistent1': 'nope',
+                '#nonexistent2': 'nope2'
+            }
+        )
+
+    with assert_raises(client.exceptions.ConditionalCheckFailedException):
+        client.put_item(
+            TableName='test1',
+            Item={
+                'client': {'S': 'client1'},
+                'app': {'S': 'app1'},
+                'match': {'S': 'match'},
+                'existing': {'S': 'existing'},
+            },
+            ConditionExpression='NOT(attribute_not_exists(#nonexistent1) AND attribute_not_exists(#nonexistent2))',
+            ExpressionAttributeNames={
+                '#nonexistent1': 'nope',
+                '#nonexistent2': 'nope2'
+            }
+        )
+
+    with assert_raises(client.exceptions.ConditionalCheckFailedException):
+        client.put_item(
+            TableName='test1',
+            Item={
+                'client': {'S': 'client1'},
+                'app': {'S': 'app1'},
+                'match': {'S': 'match'},
+                'existing': {'S': 'existing'},
+            },
+            ConditionExpression='attribute_exists(#existing) AND attribute_not_exists(#nonexistent) AND #match = :match',
+            ExpressionAttributeNames={
+                '#existing': 'existing',
+                '#nonexistent': 'nope',
+                '#match': 'match',
+            },
+            ExpressionAttributeValues={
+                ':match': {'S': 'match2'}
+            }
+        )