A thin film of Pr0.5Sr0.5MnO3 was prepared by laser ablation technique. The film (2500 Å) shows a ferromagnetic (FM) ordering at 250 K for 200 G field followed by a second transition into an antiferromagnetic (AF) state around 150 K. By applying external fields, TC shifts to higher temperatures and the magnetisation maximum at TN shifts to slightly lower temperatures. The onset of the AF behavior in all fields up to 5 T is accompanied by a splitting of the cooling and the warming magnetisation data. The M(T) curve of the bulk sample shows a temperature hysteresis indicating a first order transition. The thermopower (TEP) of the bulk sample remains negative in the temperature range of 77-300 K. We studied the piezoresistance effect of the film under quasi hydrostatic pressure up to 4 kbar. The specific heat data of the bulk sample also indicates FM and AFM transitions by showing small peaks at the respective temperatures. © 2001 Elsevier Science B.V. All rights reserved.