Epitaxial FeRh(100) films (CsCl structure, " 10 ML thick), prepared in-situ on a W(100) single crystal substrate, have been investigated via valence band and core level photoemission. The presence of the temperature-induced, first-order, antiferromagnetic to ferromagnetic (AF! FM) transition in these films has been verified via linear dichroism in photoemission from the Fe 3p levels. Core level spectra indicate a large moment on the Fe atom, practically unchanged in the FM and AF phases. Judging from the valence band spectra, the metamagnetic transition takes place without substantial modification of the electronic structure. In the FM phase, the spin-resolved spectra compare satisfactorily to the calculated spin-polarized bulk band structure. Show Partial Abstract