Monitoring of telluric current, which is practically a synonym for geoelectric potential difference, was conducted on Kozu-shima Island about 170 km south of Tokyo from May 14, 1997 to June 25, 2000. During the monitoring period, 19 anomalous telluric current changes (ATCs) were observed. Their possible correlation with nearby earthquakes was statistically examined by assuming various lead times for different ranges of magnitude and focal distance. The best correlation may be obtained for earthquakes with a magnitude greater than 3.0 occurring within 20 km of focal distance. There were 23 such earthquakes, of which 11 were preceded by ATCs within 30 d. Of these 11 earthquakes, preceding ATCs of 5 and 6 were positive and negative polarities of telluric current, respectively. Their epicenters were spatially well clustered in the east and west of the island. These facts were clearly beyond those expected by chance and led to a simple speculative model.