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Masses which develop from the rib bones are rare. The differential diagnosis includes benign and malignant lesions. A 43-year-old woman presented at an out-patient clinic with a 9-month history of a painful swelling on the left anterolateral side of her chest wall. The case reported here is of a very rarely seen atypical carcinoid tumor of the rib that was treated with rib partial resection and wedge resection to adherent lung parenchyma. There was no evidence of local recurrence or distal metastasis after 6 months follow-up. Pulmonary carcinoid tumors are uncommon neuroendocrine epithelial malignancies accounting for less than 1% of all lung cancers. They divide into two subcategories: typical carcinoids and atypical carcinoids. Approximately 80% of pulmonary carcinoids occur centrally, and 20% are peripheral and extremely rare on the rib. Although rare, in the differential diagnosis of lesions located on the ribs, atypical carcinoid tumor should be considered.