Shevrin and Luborsky have previously shown that subliminal exposure of a rebus (pictures of a tie and of a knee together) to waking subjects tended to elicit 'clang' associations (e.g., title, penny). The rebus reponse of combining the words into a new word (e.g., tiny) was not demonstrated. The present experiments with both waking and hypnotized subjects suggest that the rebus effect does appear in the latter. In describing both the subliminal stimulus and later visual images, they used the word 'tiny' and its synonyms (small, little) much more frequently following exposure to te rebus stimulus than to a control stimulus. Wideawake subjects revealed no such difference. These experiments contribute further experimental evidence of the nature and circumstances of primary process transformations.