We present a new value for the neutron lifetime of 878.5 +/- 0.7(stat) +/- 0.3(syst). This result differs from the world average value (885.7 +/- 0.8 s) by 6.5 standard deviations and by 5.6 standard deviations from the previous most precise result [Phys. Lett. B 483 (2000) 15]. However, this new value for the neutron lifetime together with a beta-asymmetry in neutron decay, A(0), of -0.1189(7) [Phys. Rev. Lett. 88 (2002) 211801] is in a good agreement with the Standard Model. (C) 2004 Elsevier B.V. All rights reserved.