Molecular nano‐composites of two electrically active but chemically deverse components, organic conducting polymers and inorganic metaloxide bronzes, can be formed by the in situ intercalative oxidative polymerization of aniline in FeOCl. Two forms of the normally amorphous polyaniline, in a cryustalline, well‐defined environment have been discovered, one semiconducting and one metallic. These hybrid materials are also suitable for the study of oriented conducting polymers.