The purpose of this study was to examine the concurrent criterion-related (or convergent) validity of first grade measures from the "Dynamic Indicators of Basic Early Literacy Skills" (DIBELS; Good & Kaminski, 2002). The DIBELS subtests of Phoneme Segmentation Fluency, Nonsense Word Fluency, Oral Reading Fluency, Retell Fluency, and Word Use Fluency were administered to 213 first graders in the middle of the school year, along with the "Test of Word Reading Efficiency" (TOWRE; Torgesen, Wagner, & Rashotte, 1997), a norm-referenced test with documented technical adequacy. Results from correlation, regression, and factor analyses indicated that the DIBELS subtests of Oral Reading Fluency and of Nonsense Word Fluency had the strongest associations with the TOWRE subtests. (Contains 8 tables.)