The impact of an anti-unitary symmetry on the spectrum of non-hermitean operators is studied. Wigner's normal form of an anti-unitary operator is shown to account for the spectral properties of non-hermitean, PT -symmetric Hamiltonians. Both the occurrence of single real or complex conjugate pairs of eigenvalues follows from this theory. The corresponding energy eigenstates span either one-or two-dimensional irreducible representations of the symmetry PT . In this framework, the concept of a spontaneously broken PT -symmetry is not needed.Deep in their hearts, many quantum physicists will renounce hermiticity of operators only reluctantly. However, non-hermitean Hamiltonians are applied successfully in nuclear physics, biology and condensed matter, often modelling the interaction of a quantum system with its environment in a phenomenological way. Since 1998, nonhermitean Hamiltonians continue to attract interest from a conceptual point of view [1]: surprisingly, the eigenvalues of a one-dimensional harmonic oscillator Hamiltonian remain real when the complex potentialV = ix 3 is added to it. Numerical, semiclassical, and analytic evidence [2] has been accumulated confirming that bound states with real eigenvalues exist for the vast class of complex potentials satisfying V † (x) = V (−x). In addition, pairs of complex conjugate eigenvalues occur systematically.PT -symmetry has been put forward to explain the observed energy spectra. The Hamiltonian operatorsĤ under scrutiny are invariant under the combined action of parity P and time reversal T , [Ĥ, PT ] = 0 .