Equine leukoencephalomalacia (ELEM) affected 6 of 10 pleasure horses in adjacent paddocks at a boarding facility. Four of the 6 affected horses died or were euthanized. Two of 3 horses presented for treatment survived with complete resolution of clinical signs. Treatment was primarily supportive. Dimethyl sulfoxide, dexamethasone, flunixin meglumine and thiamine were administered as anti-inflammatory agents and to decrease or prevent cerebral edema. Fusarium monileforme was cultured from ear corn fed the affected horses. Fumonisin B1, B2 and B3 were isolated.