The present ERP-experiment investigated brain asymmetry in encoding and representation of the formation of conditional associations in a Pavlovian framework. Two consonant-vowel syllables were used as conditional stimuli, one of them paired with an unconditional noise during the acquisition phase (CS+), the other never paired with noise (CS-). During a subsequent test phase, both CS cues were presented dichotically i.e. at the same time. Half of the subjects had the CS+ probe presented to the right ear (contralateral to the left hemisphere). The other half of the subjects had the CS+ presented to the left ear (contralateral to the right hemisphere). ERPs from F3, Fz and F4 leads were recorded. The paradigm used was an adaptation of the standard dichotic listening technique for the study of learned associations. The results showed that conditional associative learning occurred during the acquisition phase in both "groups". The P235 latency was furthermore delayed over the left hemisphere to the CS+ probe. During the dichotic test phase, there was a clear laterality or asymmetry effect between the groups for both the N125 and N450 components, possibly supporting an interpretation of asymmetry in encoding and cortical representation of a conditional association, although alternative interpretations remain open.