Measurements are presented which show that the magnetisation of a system of fine cobalt particles at 77°K is time dependent. The system examined in this work is of fine cobalt particles with median diameter D
v= 70 Å dispersed in toluene. The particles have been found to be in the fcc phase. The time decay of magnetisation has been found to be logarithmic. The time dependence coefficient

varies with the applied field H and is a maximum for H = H
cthe coercive force. These observations are in good agreement with the theory presented in this paper.