Palisaded myofibroblastoma (hemorrhagic spindle cell tumor) is a recent addition to the group of benign primary spindle cell lesions of lymph nodes. These tumors are characterized histologically by hemorrhage, palisading, and foci of collagen called amianthoid fibers. We report a further typical example with the aim of discussing its differentiation. Tumor cells were positive for smooth-muscle actin and vimentin. The cytoplasm contained moderate numbers of rough endoplasmic reticulum cisternae and some smooth-muscle type myofilaments. Subplasmalemmal densities and plasmalemmal caveolae, as well as material interpreted as external lamina, were identified at the cell surface, whereas the fibronexus junctions typical of myofibroblasts were not seen. Immunostaining for type IV collagen was positive. Intranodal myofibroblastomas have largely been considered as myofibroblastic, but the observations presented here raise the alternative possibility of simple smooth-muscle differentiation. The foci of collagen widely referred to as amianthoid fibers contained fibrils mostly of conventional diameter, 50-83 nm. The giant collagen fibrils typical of true amianthoid change were absent. It is suggested that the term amianthoid be used only after ultrastructural confirmation of the presence of giant collagen fibrils.