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abstract This paper examines how the current relevance of social capital derived from a task-advice network affects an actor's exploratory learning environment. Building on Burt's (1992) structural holes hypothesis that a large, sparse task advice network enhances an actor's exploratory learning environment, I propose that such effects hold only when the direct and indirect network ties are composed of current network contacts (ones that have been updated since the last change in positions of an actor). Analyses of data from a sample of 230 salaried employees of a high-technology manufacturing corporation support my arguments. In addition to the focus of social capital research on network structure, therefore, this study emphasizes the time-contingent value of social capital.