Two thermal analysis techniques-Differential Scanning Calorimetry and Thermostimulated Current-have been used to characterize a mica/glass fiber-reinforced composite; the matrix is a novolac epoxy resin. The glass transition temperature of the composite as determined by DSC is 80 degrees C. Below the glass transition temperature, two complex relaxation modes gamma and beta, respectively situated at -90 and -40 degrees C, have been observed. The analysis of the fine structure shows that they are constituted of elementary processes characterized by relaxation times following compensation laws. Because the compensation temperature corresponding to the gamma mode is located in the vicinity of the glass transition, it has been assigned to cooperative movements precursors of the glass transition. The mobile units might be the phenyl rings in the bisphenol A. Considering its dependence upon water content, the beta mode has been related to the molecular mobility of bound water.