A pentanuclear dysprosium hydroxy cluster of composition [Dy 5(mu 4-OH)(mu 3-OH) 4(mu-eta (2)-Ph 2acac) 4(eta (2)-Ph 2acac) 6] ( 1; Ph 2acac = dibenzoylmethanide) was prepared starting from [DyCl 3.6H 2O] and dibenzoylmethane. Both static (dc) and dynamic (ac) magnetic properties of 1 have been studied. Below 3 K, the appearance of slow relaxation of the magnetization typical for single-molecule magnets is seen, even if no hysteresis effects on the M vs H data are observed above 1.8 K.