A phosphate-solubilizing strain of Penicillium bilaii was tested for the production of gliotoxin and other toxic compounds. The strain was fermented under five different conditions to allow the expression of various metabolites, including gliotoxin. These included Czapek-yeast extract medium under both shaken and still conditions as well as Czapek-yeast extract/malt extract/peptone medium and sucrose/glycerol medium in shake flasks. In addition, culture filtrate from an industrial fermentation of the fungus was examined. No gliotoxin was produced in any of the media. No other expected P. bilaii metabolites were found. Three compounds were identified in all samples: dibutyl phthalate, 1-(4-hydroxy-phenyl)ethanone and 4-hydroxy-3,6-dimethyl-2H-pyran-2-one. The production of other metabolites was dependent on the culture conditions. Two hyalodendrin derivatives were found in some fermentations and two related compounds were tentatively identified. None of the compounds found have been reported as toxic. The identity of the culture was confirmed by comparison with the ex-type culture of P. bilaii.