Ten subjects performed a time production task, in which they were instructed to press a button four seconds after the presentation of an auditory stimulus. Two seconds after the button press they received either auditory or visual feedback on the temporal accuracy of their response. In such a paradigm negative slow brain potentials can be recorded preceding the response (Movement Preceding Negativity, MPN) as well as preceding the feedback stimulus (Stimulus Preceding Negativity, SPN). Spatiotemporal dipole modelling is used to gain insight in the possible generators of MPN and SPN. From the models it follows that the MPN can be described by one contralateral radial dipole and a bilateral pair of tangential dipoles. All three dipoles are located near central electrode positions, so the generators of the MPN probably reside within the motor cortex. The SPN is modelled by a bilateral frontotemporal pair of dipoles, hypothetically representing activation of the Insulae Reili. The insular cortex is involved in the processing of affective-motivational input, such as carried by the feedback in the present paradigm. However, processing of the information content of the feedback stimulus might by itself also activate the frontal cortex. Both the response and the feedback stimulus are followed by a positive peak, which can be described by the same deep posterior dipole. Both peaks probably represent a P3, which is related to context updating.