Higher fungi collected from Central and Southern Ethiopia were investigated.rnThe ethyl acetate extracts of submerged cultures of fifty fungi were screenedrnfor antimicrobial activity and lethality to brine shrimp (Artemia salina).rnTrametes pubescens and an Agaricus sp. were chosen for further chemicalrnstudies of the bioactive metabolites. Larger scale cultivations of these twornspecies were made and the bioactive secondary metabolites were isolated, thernstructtlres of which were characterized by spectroscopic methods and chemicalrntransformations.rnT. pl.lbescens yielded an antifungal compOlmd which was characterized asrntrans-2,3-epoxy deca-4,6,8-triyn-l-ol. Literature search revealed thisrncompound to be reported for the first time. The Agaricus sp. afforded a knownrncompound responsible for the fungal culture's lethality to brine shrimp andrnidentified as monocerin, which appeared to be the first report from Agaricusrnspecies