This article investigates how well kindergarten phonological awareness (PA) and naming speed (NS) account for reading development to Grade 5. The authors use regression analyses to predict reading development, with mental ability and prior achievement controlled, and follow the reading development of children having combinations of adequate or inadequate PA and NS. PA was most strongly related to reading in the first 2 years of school, and NS's initially weaker relationship increased with grade level. Children with weak PA and slow NS were most likely to develop reading difficulties by Grade 5, followed by children with slow NS alone. The authors discuss the roles of NS and PA in reading development and the need to clarify the constructs underlying NS.