This study investigated the efficacy of cognitive behavioural therapy (CBT) techniques in preventing depression and anxiety in a group of adolescent high school students with elevated risk for developing emotional disorders. Students were screened using a measure of depression severity and clinical interview. Following screening procedures, students at risk for, but not currently diagnosed with, depression were randomly assigned to one of two intervention groups: a CBT (n = 25) or an active control group (n = 21). Assessment measures were administered before treatment, after treatment, and at 3- and 6-month follow-up. Both groups exhibited significant improvements in mood symptomatology and self-esteem outcomes over time. Significant differences between groups were not observed at posttreatment and two follow-up points of assessment. The efficacy of CBT techniques was also examined using a "benchmarking" strategy. The limitations of this study and future research directions are discussed. (Contains 4 tables and 1 note.)