We have observed an outburst of the T Tauri star EX Lup in March 1994. We present both photometric (BVR) and spectroscopic (low and medium resolution) observations carried out during the decline after outburst. The star appears much bluer during outburst due to an increased emission of a hot continuum. This is accompanied by a strong increase of the veiling of photospheric lines. We observe inverse P Cygni profiles of many emission lines over a large brightness range of EX Lup. We briefly discuss these features towards the model of magnetospherically supported accretion of disk material. (orig.)SIGLEAvailable from TIB Hannover: RR 8257(43) / FIZ - Fachinformationszzentrum Karlsruhe / TIB - Technische InformationsbibliothekBundesministerium ...