Lake Hume is a significant water storage located at the headwaters of the River Murray. It provides irrigation water, urban water supplies, flood mitigation and recreational benefits to a large and economically significant region. Water quality in Lake Hume has recently been the subject of intense investigation in response to continued evidence of eutrophication, in the form of blue-green algal blooms. As part of this investigation Goulburn-Murray Water has published a draft management plan that endeavours to explore a range of options that might potentially improve water quality. This paper reports the results of some preliminary estimates of recreational and other non-market values of visitors and residents which will ultimately assist in framing the final management strategy.