The serotonergic system plays a key role in regulating cognitive behaviours and emotional processes in the central nervous system (Buhot, 1997; Deakin, 1998; Davidson et al. 2000). Dysfunction of serotonergic neurotransmission has been implicated in the pathogenesis of neuropsychiatric disorders including schizophrenia, depression and anxiety (Breier 1995; Dubovsky & Thomas 1995; Abi-Dargham et al. 1997; Stockmeier 1997). One of the main target structures of the serotonergic system is the prefrontal cortex (PFC), a brain region critically involved in a variety of functions, such as attention, response selection, planning, and particularly, a form of short-term information storage described as 'working memory' (Goldman-Rakic, 1995). The PFC is composed of two major neuronal populations: glutamatergic pyramidal projection neurons and GABAergic interneurons. The axon terminals of local GABAergic neurons form numerous synapses with pyramidal projection neurons (Somogyi et al. 1983), exerting powerful inhibitory control over the excitatory output of the PFC. The balance in the excitatory (glutamatergic) and inhibitory (GABAergic) transmission determines the neuronal activity of the PFC. Serotonergic projections target both types of PFC neurons in a synaptic and non-synaptic manner (Smiley & Goldman-Rakic, 1996). Recent evidence shows that serotonin (5-HT) neurotransmission is predominantly paracrine, raising the possibility that 5-HT can act on receptors that are distant from its release site (Bunin & Wightman, 1999). Serotonin receptors mediate a modulatory response, which can be either excitatory or inhibitory (for review, see Andrade, 1998), implicating a role in information processing by controlling the signal-to-noise ratio. Specific changes in serotonin signalling and neuronal activity have been found in PFC neurons of subjects with various neuropsychiatric disorders (Jaffe et al. 1993; Gurevich & Joyce, 1997), suggesting that serotonin plays a crucial role in neural computation associated with execution of complex tasks involved in cognition and emotion. Among the multiple G protein-coupled serotonin receptor subtypes, 5-HT 4 receptors are highly enriched in the frontal cortex (Domenech et al. 1994). Emerging evidence argues for a significant role of 5-HT 4 receptors in cognition and anxiolysis (for review, see Eglen et al. 1995b). Activation of 5-HT 4 receptors exerts ameliorative effects on spatial memory tests and reverses cognitive