Slide cultures of the type strain of P. boydii Shear, showed percurrent production of conidia by light microscopy over a period of several hours. Scanning and transmission electron microscopy were used to examine the conidiogenesis. The conidiogenous cells developed annular ridges rather than typical annellophoric scars. Evidence that these ridges represented sequential spore production was shown by T.E.M. in the form of a discontinuity of the outer conidiophore wall at the widest point of each ridge.