Examines the sources of stress and the psychological reactions of adolescents displaced by war in the Republic of Croatia. For the study, 45 adolescent girls and boys living with their families in a refugee center in Zagreb were interviewed about traumatic events in their lives, reactions to exile and being refugees, feelings of depression, family relations, and future expectations. The most frequent sources of stress included loss or damage of home, property, or personal belongings, separation from or death of family members, and exposure to enemy attacks. These reactions included, in order of frequency, intrusive images, guilt, loss of interest in formerly enjoyable activities, nervousness, bitterness, and irritability. Post-traumatic stress reactions were related both to adolescents’ depression and to other variables such as low expectations regarding their future, feelings of lack of control, and perceived rejection by their mothers. In addition, stress reactions were more evident among females, adolescents who had been refugees for a longer time, and those whose parents exhibited anxiety upon becoming refugees. The study’s findings underscore the need to help young people in exile overcome psychosocial problems by stimulating their interests, promoting a positive outlook on life, and improving the quality of parent-adolescent relations.