The authors present the results of an investigation undertaken for a slowly fading Rayleigh channel with additive white Gaussian noise, employing coherent PSK as the modulation scheme. A discrete three-state partitioned Markov channel model, as proposed by Fritchman (1967), is parameterised to generate an error sequence statistically similar to that of the communication system. Tables and graphs of the stationary state and state transition probabilities as functions of the signal-to-noise ratio are presented.<<ETX>>