Abstract. Re-examination of sediment cores from Deep Sea Drilling Project (DSDP) Site 277 on the western margin of the Campbell Plateau (paleolatitude of ∼ 65 • S) has identified an intact Paleocene-Eocene (P-E) boundary overlain by a 34 cm thick record of the Paleocene-Eocene Thermal Maximum (PETM) within nannofossil chalk. The upper part of the PETM is truncated, either due to drilling disturbance or a sedimentary hiatus. An intact record of the onset of the PETM is indicated by a gradual decrease in δ 13 C values over 20 cm, followed by a 14 cm interval in which δ 13 C is 2 ‰ lighter than uppermost Paleocene values. After accounting for effects of diagenetic alteration, we use δ 18 O and Mg / Ca values from foraminiferal tests to determine that intermediate and surface waters warmed by ∼ 5-6 • at the onset of the PETM prior to the full development of the negative δ 13 C excursion. After this initial warming, sea temperatures were relatively stable through the PETM but declined abruptly across the horizon that truncates the event at this site. Mg / Ca analysis of foraminiferal tests indicates peak intermediate and surface water temperatures of ∼ 19 and ∼ 32 • C, respectively. These temperatures may be influenced by residual diagenetic factors and changes in ocean circulation, and surface water values may also be biased towards warm-season temperatures.