Dielectric measurements on a compound consisting of banana-shaped molecules were performed. At the I/SmCPA transition the dielectric constant increases due to the positive correlation of the lateral dipole moments. At the SmCPA/B-7 transition the dynamics for the reorientation of the molecules about the long axis becomes not slower but the related intensity is reduced linear with decreasing temperature. Additionally a collective low frequency process is observed. Crystallization was excluded. We interpret these effects as formation of an undulated structure and a transition into a new more solid-like phase.