Abstract.A rainbow trout with a malignant lymphoma of probable thymic origin showed direct spread of the tumour to the gills, metastases to the liver and head kidney, and the presence of abnormal circulating lymphocytes. The cells of the tumour possessed plasma membrane immunoglobulin detectable by immuno–fluorescence. Examination of the tumour cells by transmission electron microscopy revealed no evidence of virus associated with the cells. Infectious viruses could not be detected in the tumour tissue, and the tumour was not transmissible by injection of live tumour cells into young rainbow trout. Attempts to establish the tumour in long–term culture were unsuccess