P300 latency from a simple auditory discrimination counting task was obtained along with a digit span memory task for a large group of neurologically normal subjects. Moderate significant negative correlations between the peak latency of the P3a and P3b subcomponents and total memory score were found, although no relationship was observed for other waveform component latencies and memory score. The data suggest that the P300 component of the event‐related brain potential may index individual variations in memory ability. Copyright © 1983, Wiley Blackwell. All rights reserved