The purpose of the study was to compare stress values obtained from Acoustic Emission and Compact Conical-Ended Borehole Overcoring stress measurement techniques applied at an underground limestone mine in Japan, and to investigate the effect of rock anisotropy and confining pressure on the Kaiser Effect level which has been used to determine in situ stresses by the Acoustic Emission technique. Initially, Acoustic Emission tests were carried out on limestone cores extracted from horizontal boreholes in a pillar and hanging wall in the underground mine. The stress values obtained were two or three times greater than those obtained by the Compact Conical-Ended Borehole Overcoring method. In the second stage, the anisotropy of a granite block was determined by P-wave measurements. Core specimens extracted from two different directions were pre-loaded under axisymetric triaxial conditions by applying a series of differential stresses. The cores were then re-loaded under uniaxial conditions and the Kaiser Effect levels were determined. It was concluded that both the anisotropy and confining pressure have an important influence on the Kaiser Effect level.