Kindergarteners (M age = 6;2) were exposed to novel spoken nonwords and their written forms within a storybook reading context. Following each of 12 stories, the children were required to spell and identify 12 novel written nonwords and then verbally produce and comprehend the spoken version of those words. Results indicated the children acquired initial specific phonological and orthographic representations. Spoken and written word learning skills were strongly associated and both were influenced by the words' linguistic regularities. Spoken word learning ability explained 62% of the variance on a spelling measure, whereas written word learning ability predicted 42% of the variance on a reading measure. The results provide evidence that beginning readers employ simultaneously a mutually shared learning mechanism that is sensitive to statistical regularities of words when engaged in the process of learning new spoken words and their written forms. (Contains 4 tables and 1 footnote.)