We isolated a N. crassa cDNA clone encoding a novel-type serine/threonine phosphatase. The gene (mapped to LGVR), designated ppt-1, encodes a 479 amino acid putative polypeptide which contains a conserved tetratricopeptide repeat (TPR) motif. ppt-1 transcript levels are abundant in conidia and decrease during germination, indicating that ppt-1 is developmentally regulated.