This study was designed to examine whether there is a relationship between phonological memory and reading ability in Greek-speaking children aged between 6 and 9 years. An additional aim of the study was to investigate whether training of phonological memory during preschool years enhances reading achievement during early school years. In Experiment I, the phonological memory ability of 136 first graders, 134 second graders and 132 from each of the third and fourth grades was assessed with a nonword repetition test. A reading test was also used to evaluate the reading skills of the above subjects. The results revealed strong links between reading performance and nonword repetition scores. 120 kindergarten children randomly assigned to a control and an experimental group participated in Experiment 2. Training that involved practice in the repetition of nonwords was used as a means of promoting the phonological memory of the children in the experimental group over the course of one year in school. Subjects' reading ability was tested during the last month of their first year in the primary school. The findings showed that the performance of the trained subjects in the reading test was superior to that of the control subjects. Such evidence underlines the importance of teaching children of preschool years phonological strategies in order to boost their reading skills during early school years. (Contains 4 tables.)