A wide class of composite materials, which are in this paper referred to as having columnar microstructure, posses the microgeometrical characteristic that the constituent phases are homogeneous along one and only one direction. This class includes as an important subclass all the composites consisting of a homogeneous matrix reinforced by aligned parallel continuous homogeneous fibers. In the present work, considering a transversely isotropic composite with columnar microstructure and with cylindrically anisotropic phases, a number of exact results are established for effective thermoelastic moduli by modelling the composite as a nested composite cylinder assemblage. The results obtained in this work extend those of Hashin and Rosen [Z. Hashin, B.W. Rosen, The elastic moduli of fiber-reinforced materials, ASME J. Appl. Mech. 31 (1964) 223-232] and Hashin [Z. Hashin, Thermoelastic properties and conductivity of carbon/carbon fiber composites, Mech. Mater. 8 (1990) 293-308]. (C) 2007 Elsevier Ltd. All rights reserved.