In experiment I, thresholds for 400‐ms sinusoidal signals were measured in the presence of a continuous 25‐Hz‐wide noise centered at signal frequencies ( fs) ranging from 250 to 8000 Hz in 1‐oct steps. The masker was presented either alone or together with a second continuous 25‐Hz‐wide band of noise (the flanking band) whose envelope was either correlated with that of the on‐frequency band or was uncorrelated; its center frequency ranged from 0.5fsto 1.5fs. The flanking band was presented either in the same ear (monotic condition) as the signal plus masker or in the opposite ear (dichotic condition). The on‐frequency band and the flanking band each had an overall level of 67 dB SPL. The comodulation masking release, CMR(U−C), is defined as the difference between the thresholds for the uncorrelated and correlated conditions. The CMR(U−C) showed two components: a broadly tuned component, occurring at all signal frequencies and all flanking‐band frequencies, and occurring for both monotic and dichotic conditions; and a component restricted to the monotic condition and to flanking‐band frequencies close tofs. This sharply tuned component was small for low signal frequencies, increased markedly at 2000 and 4000 Hz, and decreased at 8000 Hz. Experiment II showed that the sharply tuned component of the CMR(U−C) was slightly reduced in magnitude when the level of the flanking band was 10 dB above that of the on‐frequency band and was markedly reduced when the level was 10 dB below, whereas the broadly tuned component and the dichotic CMR(U−C) were only slightly affected. Experiment III showed that the sharply tuned component of the CMR(U−C) was markedly reduced when the bandwidths of the on‐frequency and flanking bands were increased to 100 Hz, while the broadly tuned component and the dichotic CMR(U−C) decreased only slightly. The argument here is that the sharply tuned component of the monotic CMR(U−C) results from beating between the ‘‘carrier’’ frequencies of the two masker bands. This introduces periodic zeros in the masker envelope, which facilitate signal detection. The broadly tuned component, which is probably a ‘‘true’’ CMR, was only about 3 dB.