Set-shifting is essential to cognitive flexibility and relies on frontal lobe function. Previous studies have mostly focused on feedback processes following shifting rather than set-shifting itself. We designed an MEG paradigm without feedback to directly investigate the neural correlates of set-shifting. Adults (n=16) matched one of two coloured images with a third stimulus, the target, by either the colour or shape dimension of the target. Half of the shift trials involved colour-to-colour or shape-to-shape (intra-dimensional: ID) shifting and the other half involved colour-to-shape or shape-to-colour (extra-dimensional: ED) shifting. MEG was continuously recorded on a 151 channel CTF system. We used beamforming to analyze responses to the first (shift) and the third (repeat) trials in each set. These trials were contrasted separately for ID and ED sets. Shift versus repeat trials showed larger MEG activations for intra-dimensional shifting in the right inferior frontal gyrus (BA 47), left medial frontal gyrus (BA 10) and right superior frontal gyrus (BA 9) as early as 100ms, and in left middle frontal gyrus (BA 11) between 250-500ms. Activations related to extra-dimensional shifting were detected in left inferior frontal gyrus (BA 44), left middle frontal gyrus (BA 11), and right middle frontal gyrus (BA 46) between 100ms and 350ms, followed by superior frontal gyrus (BA 8/BA 10) between 250-500ms. Intra-dimensional and extra-dimensional shifting also activated bilateral and right parietal areas, respectively. This study establishes the location and timing of frontal and parietal activations during an intra-dimensional versus extra-dimensional shifting task.