Byproducts of fuel ethanol production from wet-milled corn, were tested as substrates for growth and pullulan production by Aureobasidium sp. strain NRRL Y-12,974. The strain grew well on core fiber and corn condensed distiller’s solubles (CCDS), and fermented CCDS to pullulan. CCDS compared favorably with starch as a substrate for pullulan production.