Findings of a study that determined the benefits of mentoring as part of an administrator preparation program are discussed in this paper. In-depth interviews were conducted with nine practicing administrators, who worked directly with aspiring administrators who served as candidates in one cycle of the Danforth Foundation Program for the Preparation of School Principals. Mentors reported that they derived considerable personal satisfaction from participating in the program and identified the ability to "be a teacher again" as one of the most satisfying aspects. Contact with aspiring administrators exposed mentors to ideas from other school systems and to recent research. Finally, mentors viewed their mentoring role as an affirmation of their professional competence. Findings suggest that the mentoring role may be inherently satisfying and provide inservice education to practitioners. (Contains 12 references.) (LMI)