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In 1992, the CIA hired the young historian Nick Cullather to write a history (classified 'secret' and for internal distribution only) of the Agency's Operation PBSUCCESS, which overthrew the lawful government of Guatemala in 1954. Given full access to the Agency's archives, he produced a vivid insider's account, intended as a training manual for covert operators, detailing how the CIA chose targets, planned strategies, and organized the mechanics of waging a secret war. In 1997, during a brief period of open disclosure, the CIA declassified the history with remarkably few substantive deletions. The New York Times called it 'an astonishingly frank account ...which may be a high-water mark in the agency's openness.' Here is that account, with new notes by the author which clarify points in the history and add newly available information.