P, V m , Tdata have been measured for the smectic, nematic and isotropic phases of 4'-n-octyl-biphenyl-4-carbonitrile (8CB) in the temperature range 300-370 K and pressures up to 300 MPa. At atmospheric pressure all phase transitions appear to be of first order due to a discontinuity in the density. The volume change at the smectic A -nematic transition is only a tenth of the volume change at the clearing temperature. At moderate pressures below 80 MPa the S A -N transition could be detected as a discontinuity in the period of oscillation in measurements with a high-pressure vibrating tube densimeter. At higher pressures the discontinuity seems to die away, possibly indicating a change from first order to second order transition. From the volume changes and the slopes of the transition lines we calculate the enthalpy changes at the phase transition. The p, V m , T data enable us to calculate the volume part of the entropy and the molecular field parameter y=9ln 7 N i/3ln V NI .