The objective of this study was to compare and analyze the cost effectivenessof antenatal care under maternal and child health care program at Thana HealthComplex (THC) and Health and Family Welfare Center (H&FWC). Providers costs were calculated and effectiveness were measured for THC andH&FWC through a descriptive and cross sectional study in 1998. Fultala thana wasselected as a case study from provider's perspective. 381 pregnant mothers were made901 antenatal visits in THC and 424 pregnant women received 1,345 antenatal visits inH&FWC. Costs were classified by inputs i.e. capital cost and recurrent cost.Effectiveness of antenatal care were measured by percentage of pregnant womencovered, percentage of pregnant women who received at least three ANC visits andpercentage of normal delivery of pregnant mothers. It was found that cost per antenatal visit at THC was Tk 46.30 and in H&FWC wasonly Tk 33.95 in 1998. As effectiveness is considered it is found that H&FWC covereda higher percentage (88.33 %) of targeted pregnant mothers than that covered by THC(79.38 %). As regard to 3 visits more than about two-thirds of the pregnant motherswere covered by the H&FWC but the coverage was below fifty percent (42.52 %) in THC.Pregnant mothers had higher normal delivery at H&FWC (99 %) than at THC (93.37 %).The cost-effectiveness results showed that cost required to cover each pregnantmother at THC was Tk 109.50 and in H&FWC was Tk 107.68. But in THC per pregnantmother got average 3.17 antenatal visits where as in THC 2.36 visits. The costrequired providing each pregnant mother with at least three visits was higher in THC(Tk 257.53) than that incurred at H&FWC (Tk 154.77). The antenatal cost in terms ofhaving normal delivery shows the same trend. Cost of having normal delivery at H&FWCis lower (Tk.114.43) in comparison to that of THC (Tk 123.43). Comparing threeindicators, it is evident that providing antenatal care service is morecost-effective at H&FWC than that at THC.