This paper reviews the effect of 50-60 Hz weak electric, magnetic and combined electric and magnetic field exposure on cognitive functions such as memory, attention, information processing and time perception, as determined by electroencephalographic methods and performance measures. Overall, laboratory studies that have investigated the acute effects of power frequency fields on cognitive functioning in humans are heterogeneous, in terms of both electric and magnetic field (EMF) exposure and the experimental design and measures used. Results are inconsistent and difficult to interpret with regard to functional relevance for possible health risks. Statistically significant differences between field and control exposure, when they are found, are small, subtle, transitory, without any clear dose-response relationship and difficult to reproduce. The human performance or event related potentials (ERPs) measures that might specifically be affected by EMF exposure, as well as a possible cerebral structure or function that could be more sensitive to EMF, cannot be better determined.