A new psycholinguistically motivated and neural network based model of human word recognition is presented. In contrast to earlier models it uses real speech as input. At the word layer acoustical and temporal information is stored by sequences of connected sensory neurons which pass on sensor potentials to a word neuron. In experiments with a small lexicon which includes groups of very similar word forms, the model meets high standards with respect to word recognition and simulates a number of wellknown psycholinguistical effects.