The authors present the clinical history of a 61 year old woman who was treated in the Metropolitan Hospital Complex Arnulfo Arias Madrid of the Social Security. The patient had experienced weight loss, chills and pain in the left chest for a period of one month. The chest X-ray showed an irregular oval shaped pulmonary infiltrate, 5 x 5 cm, in the upper one third of the left lung field. Fiberoptic bronchoscopy revealed an endobronchial lesion in the superior division of the left upper lobe bronchus. Transbronchial biopsy and bronchial brushings showed Crytpcoccus neoformans. Clinical evaluations did not reveal involvement of the central nervous system, the immunological system or evidence of neoplastic disease. The patient was treated with Amphotericin B and Ketoconazole resulting in a complete cure. Amphotericin B was used on an ambulatory basis for the first time in their institution and in Panama.