Two new benzofuran-derived metabolites of polyketide origin called phaeofurans A and B (1 and 2), along with three sorbicillin analogues (3-5), have been obtained from a fungicolous isolate of the genus Phaeoacremonium (NRRL 32148). The structures were determined by analysis of MS and 2D NMR data. The antifungal effects of the extract were ascribed to the sorbicillin analogues.